The Times - Cheapest five-year fixed-rate mortgage falls below 4%
The cheapest five-year fixed-rate mortgage has fallen below 4 per cent for the first time since early October as competition between lenders and lower interest rate forecasts bring down the cost of borrowing.
Aaron Strutt, from the mortgage broker Trinity Financial, said: “Rates are still high compared to where they were but this is another step in the right direction. A sub-4 per cent fix of any type looked a long way off a few months ago.”
Strutt said: “Banks and building societies are getting used to the Bank of England’s announcements. They know the higher rates go, the tougher it will be for borrowers to get an affordable mortgage.
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