Our MD, Andrew Montlake AKA Monty, appeared on final week’s ITV Martin Lewis Money Show Live as a panelist once more final week. He’s turning into a daily!
He mentioned all issues mortgages and assisted Martin in answering the burning questions the general public had on the present mortgage market and fee rises.
When requested by a member of the general public who was about to resume her mortgage deal and wished to know if she ought to go for the two-year or five-year deal, Andrew Montlake, concluded it was a “difficult” query and that all of it trusted the householders’ circumstances. If householders believed that rates of interest would have fallen by that point and so they “may afford to be mistaken”, then the two-year deal could possibly be “ place to go”.
Alternatively, a five-year deal could possibly be checked out as an “insurance coverage coverage”, Montlake mentioned. “If you’re going to keep up late, worrying about fee rises, …. a five-year repair would possibly ease that peace of thoughts”, the knowledgeable added. Martin concluded that all of it trusted how necessary that certainty was for the house owner.
It was a profitable present that hopefully gave some readability and recommendation for individuals with present mortgages approaching the top of their time period or aspiring house patrons who will probably be seeking to receive one sooner or later.
See a clip from the Martin Lewis Cash Present Mortgage Particular right here:
It’s the query on many householders’ lips…🗣 “Ought to we be taking a look at variable offers now or ready for the fastened charges to drop?”
— The Martin Lewis Cash Present Stay (@itvMLshow) July 17, 2023
You possibly can watch the total episode and different episodes of The Martin Lewis Cash Present on ITVX
If you wish to ask Monty a query or converse to considered one of our pleasant advisers about your mortgage please click here.