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Good News For the Mortgage Market

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Good News For the Mortgage Market

High street lenders reduce rates as Bank of England suggests inflation may have peaked. 

After the Bank of England (BoE) voted to increase the base rate at the beginning of the month many lenders began reducing their fixed mortgage rates.

This is reflected in data (Moneyfacts), which found the average two year fixed deal sat at 5.44% on the day of the voting. One week later it had dropped to 5.40%.

This hasn’t been a sudden trend, however. Fixed rates have been falling since the beginning of the year.

Five weeks ago the average five year fixed deal stood at 5.61%, but this has since been reduced to 5.12% last week.

Below we have listed some of the notable fixed rate reductions over the past week, with some mortgages now offering a fixed rate below 4%.

We can save you time, hassle, and hopefully money too, by finding the perfect mortgage for your house move so you can be left to concentrate on the important things, like preparing for moving day. 

If you need help with your mortgage, or are on the standard variable rate, we can help you re-mortgage your current property, or provide you with information on all of your purchase types including buy to let.

For more information get in contact today on 0118 9122370

Your home may be repossessed if you do not keep up repayments on your mortgage