Homeowners advised to snap up mortgage deals quickly

Homeowners have been advised to act quickly if they see a good mortgage deal, as deals are being withdrawn from the market at short notice, according to Mortgage Adviser.

The trade publication has pointed to examples such as Halifax where the bank offered a two year tracker rate which was 0.11 per cent lower than the base rate, only to withdraw it 48 hours later, reports Finance Markets.

Halifax did release a statement saying "A lot of our rates are only available for a very limited period".

Coventry Building Society and Bristol & West have both also had deals withdrawn at short notice in the last few weeks.

In related news the buy-to-let boom has reportedly pushed up the cost of the average house by £14,000, according to research from the National Housing and Planning Advice unit. The report also showed that buy-to-let has added an average of £90 a month to homeowners'' mortgage payments.

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