It’s no secret that it’s a worrying time for customers who are looking for a new mortgage product. Interest rates have continually risen and fixed rates have increased. While the end of last year saw them rise quite significantly following the controversial ‘mini-budget’, lenders have now reduced their fixed rate offerings to a more reasonable level. Even so, getting the best fixed rate still needs some careful research and consideration.
New Track and Switch Mortgage
The new Track and Switch facility from NatWest allows customers who are uncertain about fixing their rate to choose a Tracker mortgage and fix their mortgage rate later.
If it’s right for you, you can choose any Tracker mortgage now. These Tracker mortgages are variable rate products which track the National Westminster Bank Plc base rate. Then, if you wish to switch to a Fixed Rate mortgage, you can use the Product Transfer system to switch them easily onto the Fixed Rate that you would like. This can only be done once you’ve had the Tracker mortgage for three months. At this point, you won’t be re-credit scored.
Discover if This is Right for You
If the new Track and Switch from NatWest sounds like a product that would benefit you, or you would like to find out more information, the team at Buzz Financial are here to offer their help and advice and help you discover more about this new service. We have access to the whole of the market and can offer the benefit of our experience with various lenders to help you find that mortgage that is right for you. This isn’t the only lender that will be offering deals and incentives to customers at this time and we expect more to enter the market following this announcement. We can help you find these deals.
All you need to do is give us a call on 01934 756717. Following an initial conversation, we can make an appointment to go through things in more details and start the search for your next mortgage.