Considering a Mortgage?
Rates have never been lower as Bank of England show the average two year fixed rate at 1.99% and 2.98% for five year fixed rate for those with a 25% deposit. Similarly, for those with existing mortgages – many are now on ‘standard variable rates’ and can save £’s by remortgaging and fixing their rate….
Lenders have been steadily cutting rates since summer 2014 and now are some of the lowest we have ever seen.
Speaking to an experienced mortgage broker is always a good idea if you need advice on your options moving forward.
These rates may stick around, they may be swiftly axed. If you are in a position to start considering your mortgage then now is an ideal opportunity to put some time aside to look into your options or if you have an existing fixed rate due to finish this year then most lenders will let you reserve their current rates for a small fee.