Before the credit crunch consumers were urged to take their time and search the market. At this moment in time however, when things are changing so fast if you find a good deal you should go for it as it may not be around for long.


An article in the Daily Mail (Daily Mail – 04/04/08) details, Richard Morea of London & Country mortgages said: ‘Until recently, the companies would tell us with plenty of notice if they were planning to withdraw a product so we could ring up the client and warn them. Now we don’t even get told in advance. It’s just gone.’

Many mortgage deals can be reserved for up to six months, so if your deal is running out before then and you believe that rates are going up then you should maybe reserve it in advance. The article goes on to say “In the past two days, more than 570 mortgages have been withdrawn. Last night saw Nottingham Building Society pull its buy-to-let two and three-year tracker, while the West Bromwich withdrew all its mainstream and buy-to-let mortgages, replacing them with more expensive options.”