Tag: Moneyfacts
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Cheaper Mortgage Rates Unlikely to Return, Warns Lloyds Boss
Homeowners hoping for a return to the rock-bottom mortgage rates of the last decade are likely to be disappointed, the boss of Lloyds Bank has warned. Charlie Nunn, the chief executive of the UK’s biggest mortgage lender, said that while he expects rates to fall, they are unlikely to plummet to the near-zero levels seen…
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SVR Mortgage Rate Cuts Give Hope to House Buyers
Mortgage rates are finally falling, making it cheaper to buy your dream home. Just a month after the Bank of England slashed interest rates to 5%, we’re seeing some relief in the mortgage market. The average interest rate you’ll pay on a standard variable rate mortgage (SVR) has dipped below 8% for the first time…
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Yorkshire Building Society Lowers Rates (Again!)
Yorkshire Building Society has announced another round of mortgage rate cuts just weeks after their last reduction. This means potential savings for anyone looking to get a mortgage or switch their current deal. How much have rates been cut? The building society has reduced rates across its range of mortgages by up to 0.55%. What…
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Mortgage Rates Fall to Six-Month Low, But Choice is Shrinking for Buyers
According to the latest data from financial experts Moneyfacts, the average two-year fixed-rate mortgage has dropped to 5.56%, while the average five-year fixed-rate deal now sits at 5.20%. This means borrowers could save hundreds of pounds a year on their repayments. This drop in rates is a welcome relief after the turmoil of the mini-Budget…
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Holiday Let Mortgages – More Choice, But What’s the Catch?
The number of holiday let mortgages has exploded, with 445 options now available, compared to just 362 in August 2023. That’s not all – the number of lenders offering these deals has also increased, now sitting at 34 compared to 32 just a few months ago. The majority of these lenders are building societies, so…
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Mortgage Rate Drop – Fixed-Rate Prices Fall
Average two and five-year fixed-rate mortgages have fallen by 0.4% this week, Moneyfacts reports. This means cheaper monthly repayments are now up for grabs! Despite more sub-4% fixed deals hitting the market, the average rate across all loan-to-value (LTV) ratios for two, three, and five-year fixed-rate mortgages remains above 5%. Big Banks Slash Rates This…
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Mortgage Rate Meltdown – This Week’s Best Deals
Fixed mortgage rates are dropping fast, making it cheaper to borrow for your dream home. Good news for anyone looking to buy a home or remortgage! Lenders are slashing their fixed mortgage rates, with some of the lowest deals falling for the second week in a row. This means you could bag yourself a bargain…
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Fixed-Rate Mortgage Drop Offers Hope for Homebuyers
Average fixed-rate mortgages have fallen to their lowest point since March, offering a ray of sunshine in the current economic climate. According to the latest data from Moneyfacts, the average two-year fixed-rate deal has dropped by 18 basis points since July, now sitting at 5.77%. Five-year fixed-rate deals have also seen a welcome decrease, falling…
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Two-Year Fixed-Rate Mortgages Could Cost You More – Five-Year Deals Are Now Cheaper
Bank of England finally cuts interest rates – but experts warn the days of cheap mortgages are over. Last week saw a welcome interest rate cut, but analysts are warning this doesn’t mean mortgages will become more affordable. In fact, experts predict a new average interest rate of 4.5%. This is especially important for those…
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Cheaper Mortgages on the Way – But Should You Wait for a Better Deal?
Mortgage rates are finally falling. But how low will they go, and is it worth waiting for an even better deal? After months of rising costs, there’s finally some relief in sight for mortgage holders. The recent Bank of England base rate cut to 5% has triggered a wave of reductions from major lenders like…