| Better mortgage deals could be on the horizon after the world central banks' provided a £54 billion injection of cash to the money markets last month.
That is according to predictions of independent mortgage experts, John Charcol, responding to news the three-month LIBOR – the interest rate at which banks borrow money – has dropped from 6.65 per cent to 5.89 per cent.
If banks can now borrow money cheaply, said John Charcol, then they can lend money more cheaply which is excellent news for borrowers.
And with interest rates set to fall again this month it has urged anyone who is set to remortgage soon to act quickly to avoid shifting to their lenders' standard variable rates (SVR) – a move which could lose them money.
Katie Tucker, technical manager for John Charcol, now expects a number of new product ranges to emerge this week which borrowers can take advantage of.
Source:
http://www.myfinances.co.uk/news | 
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