Enable’s mortgage brokers in Bishop’s Stortford like to keep an eye on fixed rates for all mortgages. It is interesting to see that the average two-, three-, five- and 10-year fixed rates, according to Moneyfacts.
For two-year fixes, there was significant movement at the 95 per cent LTV bracket where the average rate fell 8 basis points to go from 4.27 per cent to 4.19 per cent. Elsewhere, the average rate at 70 per cent LTV dropped from 2.43 per cent to 2.41 per cent. The largest change within the three-year fix took place at 85 per cent LTV, which saw its average rate fall from 2.93 per cent to 2.91 per cent. In five-year fixes, there were few notable changes. The largest was at 95 per cent LTV. Here, the rate decreased from 4.22 per cent to 4.20 per cent. When it comes to 10-year fixes the average rate at 65 per cent LTV gained 4 basis points this week, going from 2.45 per cent to 2.49 per cent.
Several ranges have been refreshed said Eleanor Williams of Monyfacts -“Platform made rate amendments with some fixed rate products seeing a cut of up to a notable 0.58 per cent, while other rates increased by up to 0.27 per cent.” “Indeed the choice for borrowers with 5 per cent deposits increased further this week, with lenders such as Digital Mortgages from Atom Bank being amongst those bringing products to market. Also of note was Virgin Money reducing selected rates in the 85 per cent and 90 per cent LTV brackets by as much as 0.26 per cent, and adding further options to their range.”
Enable’s mortgage brokers in Bishop’s Stortford can help you look at fixing the right fixed rate for your mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage