London Office, Interest Rates & Secured Loans

London Office

Fox Davidson are proud to announce the opening of our London Office.  1 Royal Exchange Avenue, London, EC3V 3LT.  Opposite the world renowned Royal Exchange building and on top of Bank tube station this office is situated in the heart of the London financial district.

Have fixed rates hit rock bottom?

We have recently seen one lender pull their range of fixed rates due to volatility in the swap rate market.  So what are swap rates?  They are basically a fixed rate of interest which banks secure for a set amount of time, normally 2, 3, 5 or 10 years.  This enables them to then lend money out at fixed rates.  Swap rates therefore reflect the general view of how interest rates may move in the future.  5 year swap rates rose from 0.887% at the start of May to 1.28% on 10th June to 1.787% on 24th June.  That’s an increase of 0.90%.  We therefore expect more fixed rates to be withdrawn and re-priced upwards in the coming weeks.

Secured Loans

Secured lending can be a great way of borrowing additional funds whilst not altering the current terms on your mortgage.  Maybe your existing mortgage is interest only and you do not want to have to change it to repayment?  Maybe you have a great low tracker rate and you do not want to have to leave it? A secured loan sits on top of your mortgage and does not affect your existing mortgage terms in any way. Rates start from 5.592% and can be arranged as interest only or repayment. They can also be arranged for almost any purpose such as: home improvements, buying a car, a holiday, business purposes, to pay a tax bill, debt consolidation, to raise a deposit to purchase another property.

Secured lending can work out as a cheap option because you do not have to alter your original mortgage terms so it’s worth a look to check which would be most suitable for you.