If you see a really good mortgage deal on the market, you really need to act fast. Tracker and fixed rate mortgages with impressive rates are vanishing as quickly as they arrive according to industry experts.
The Halifax launched a new tracker mortgage which tracked the base rate at 0.11% below, making it a market leader in a very competetive field. However, many consumers found themselves unable to get on the deal as it was pulled only a few days later and replaced with a much less attractive rate.
This emphasises exactly how important it is to have at least a small awareness of the mortgage market, as you can take advantage of the once in a lifetime deals that come and go in the blink of an eye.
The tracker mortgage market is expected to be incredibly competetive over the coming months as these types of agreements continue to soar in popularity.
Another drop in the base rate could trigger a bidding war between providers up and down the country, so be on the lookout for super mortgages if they become available.