Moneymatchmaker.com says uk mortgage rates are on the way down

An economist has stated that recent falls in the cost of mortgages represent a ray of light in the overall mortgage picture, raising hopes that the market may recover soon and that those hoping to find a better mortgage quote will have reason for optimism.

Cheif economist at Nationwide, Fionnuala Earley said: "With the cost of mortgages starting to come down, activity could increase and restore some liquidity to the housing market," although she added that this will not be an "overnight" turnaround.

Banks and building societies have been able to trim the cost of their mortgage products because swap rates have passed their peak and have been falling recently.

Mark Leaper of moneymatchmaker.com, a leading UK Price Comparison website commented after the Nationwide monthly house price figures for July were released - revealing a 1.7 % fall - went on to say that interest rates should soon start to reduce as the slowing economy curbs inflation.

Leaper went on to say that the credit crunch, brought about the collapse in confidence within the US investors had caused real pain for the uk homeowner with unusual circumstances. He add that in recent years, people had started to expect that mortgages and loans would be available, even with a poor credit rating and the loss of these products had really stiffled the markets and added huge pressure and stress onto a large proportion of homeowners.

In addition to the worries of borrowing money, the cost of living is on the increase with British Gas has coming in for criticism over news that it is to impose new price increases a day after its parent company Centrica announced large profits.

The firm has said prices will rise by 35 per cent a day after Centrica revealed profits of nearly £1 billion, a move that has sparked anger among bodies concerned that this could add to debt and poverty, such as those struggling with repayments and needing mortgage help.

Child Poverty Action Group said: "These staggering energy price hikes risk hitting the poorest families hardest. With the cost of living on the up, families really don't need more bad news that causes more fuel poverty."

The body called for the company to consider the interests of hard-hit consumers ahead of those of its shareholders.

Energy price comparisons are available from providers right accross the uk, with real savings being made by switched people that are prepared to take the effort to look and switch providers.

UK price comparison website - www.moneymatchmaker.com - Compares mortgages , loans and insurance to find the best uk deals - Home energy bills are on the increase, compare gas and electricity companies to find the best deal for you. With all the publicity surrounding identity theft and credit fraud, access your free credit report to see your credit score and get a 30 day free trial to access your full experian credit file.

 

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