Evening Standard - Boost for homeowners as average rate on fixed mortgages fall below 5%
Home owners and buyers were given a boost today as the average on a five year fixed rate mortgage fell below the 5% average benchmark amid a price war among leading lenders.
Aaron Strutt of brokers Trinity Financial told The Standard: “Thankfully rates are still getting cheaper as we start the run-up to Christmas and approach the dreaded by many upcoming Budget.
“If you are looking for a five-year fix then there is a lot of choice. Nationwide and NatWest have sub 3.85% five-year fix rates, while Santander has a three-year fix rate priced around 3.8%. Ten-year fixes are priced around 4.5%.
“The rate changes seem unlikely to slow down for a while given the number there have been recently. If you do have a mortgage offer out from your bank or building society it would be a good idea to double check that the lender isn’t offering a better deal before it is too late."
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