Mortgages: He who hesitates loses the Best Deal!
The turmoil in the mortgage market has thrown up some interesting statistics.
Moneyfacts has published data showing that the average shelf life of a mortgage product in June was down to just 14 days from a previous 23 days.
The suggested thaw in the mortgage market saw only an additional 33 mortgage products released on to the market in the same period.
It would seem that the best deals are being snapped up immediately by home owners or house hunters, anxious to stay, get on or climb the Housing Ladder, or are being withdrawn by nervous Lenders, anxious not to be seen to be over generous.
Which, makes the announcement by Nationwide Building Society today of a fixed rate for one year of just 3.59% likely to cause a bit of a stampede.