Average price of two-year fixes increasing
Two-year fixed rate mortgages are increasing at the fastest pace in over two years, according to research by data firm Moneyfacts. The average two-year fixed rate rose by 0.09% from 3.52% on April 1 - to 3.61% by the end of the month. Moneyfacts says fixed rate hikes were seen on 14 (70%) of the 20 business days in April and there were decreases on just three days.
Sylvia Waycot, editor at Moneyfacts, said: "The two-year fixed rate mortgage has been the favoured option for the risk-averse borrower who enjoys the knowledge that they know what their mortgage will cost each month."
Trinity Financial has access to Accord Mortgages two-year fixed rates at 1.79% and it has a competitively priced £975 arrangement fee. Borrowers will need a 35% deposit to access this mortgage and it has a maximum loan size of £1.5 million. After the fixed rate the mortgage reverts to the lender's standard variable rate, which is currently 5.99% and the APR is 5.7%.
Call Trinity Financial on 020 7016 0790 to secure a leading mortgage.
May 9, 2014
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