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Welcome to MFB TV on Thursday the 17th of February. On Tuesday the inflationary figures
came out at above 4 per cent and there is now a furious argument amongst economist as
to whether base rates should move up any time soon. The pressure is on, and as we have commented
before, fixed rates are starting to look increasingly attractive. We sent a mailer out to twenty
thousand of you on our database yesterday talking about a residential mortgage product,
fixed for two years at 2.14 per cent with a flat arrangement fee of 2000 pounds. Overnight
that product has already has been withdrawn and increased in price to 2.44 per cent and
a fee of two per cent, so if you have a large loan you are losing the economy of scale with
the product. We really do think that now is a time to carefully look at fixed rate options
and obviously we'll be monitoring the Buy to Let market soon. If you are looking for
fixed rate products for any remortgages, be they commercial, buy to let, or residential
homeowner do give us a call now on 0845 3456788.