The expertise of the Moneyfacts team is regularly in demand from news outlets and journalists across the national and financial spectrum, with many relying on our up-to-the-minute data and insightful quotes to inform their stories. Here are just a few places we’ve been in the news this week.
- Our story on the average two-year tracker rate falling was picked up by a number of publications, including Mortgage Strategy, Mortgage Solutions, Financial Reporter, Your Mortgage and Which?. “It appears that an increasing number of products this month, and subsequent intensifying competition, has driven the average variable rate down,” said Darren Cook, one of our resident finance experts. “The amount of interest a borrower is required to pay monthly on a variable tracker rate mortgage could of course change over time, but any fluctuations in rate are likely to be linked to external factors such as the Bank of England Base Rate.”
- The Daily Mail, This is Money and The Times all covered our research on rising easy access rates, in which we revealed that competition from challenger brands is pushing rates further upwards as providers continually look to leapfrog one another to offer the best rate in the market. However, Darren warns that these rates may not be around for long: “The providers that are pushing up rates will be closely monitoring the level of overall deposits they are taking and may cut the rate if it becomes too popular. Savers should keep an eye out: if a market-leading rate appears that suits their requirements, quick action is required as it could disappear as quickly as it arrived.”
- Several publications reported on Yorkshire Building Society launching interest-only mortgage deals – including The Times, Fair Investment, Your Mortgage and Mortgage Solutions – and in doing so picked up on our previous research into the area, in which we found that the number of interest-only mortgages available has doubled in the last six years.