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• Seasoned players in the mortgage market
understand that bank rates are just one of the
influences on mortgage rates.
• For unseasoned players, however, the
mortgage advice Leeds brokers have to offer
will show them what to do when and if the
mortgage rates rise.
• Given the strongest hints from banks that
rates may go up soon, it makes sense to
understand some of the questions hovering
around mortgage rates.
• Basically, some of the things you will learn
from mortgage advice Leeds include:
1. Bank Rates Are Not Sole Players
• Most people often assume that mortgage
rates are affected by bank rates.
• However, this is not entirely true. In general,
bank rates influence interest rates in the
• Therefore, they tend to have a feed – through
effect on mortgage rates as well.
• However, the relationship between these two
rates is not as predictable or as clear – cut as
you may think.
• This is because bank rates do not represent
the actual cost aced by the individual lender.
• In practice, bank rates remain static for some
time while mortgage rates continue falling.
• From the professional mortgage advice Leeds
has to offer, you will learn that new mortgages
often get re-priced when competition
increases, confidence in the economy
strengthens and funding conditions for
mortgage lenders improve.
• In the long run, this reduces the perceived risk
of loan defaults.
• In conclusion, therefore, remember that
inasmuch as mortgage rates may be affected
by bank rates at times, this is not always the
• When you talk to a mortgage broker, they will
explain the relationship between these two
rates more clearly.
• This is why it is always a great idea to benefit
from the independent mortgage advice Leeds
brokers have to offer.
• Your understanding of the relationship will
additionally help you make the right decision
with regards to the mortgage lender you plan
on going to for a loan.