Lenders still offering great fixed rate mortgages
Many of the banks and building societies are offering fantastically low mortgage rates and there are a host of two-year fixes available well below 2%.
Scottish Widows Bank recently launched a two-year fixed rate mortgage at 1.79% and it has an offset facility. This enables many borrowers with savings to lock into a cheaper rate and use their money to reduce the amount of interest they pay. The lender requires borrowers to put down a 40% deposit to access this rate and they charge a £1,499 arrangement fee. The APR is 4.1%.
Over the last few days some of the largest lenders have increased their longer-term mortgage rates, including Santander and Nationwide Building Society.
NatWest for Intermediaries raised their five-year fix from 2.88% to 2.95% but it is still one of the leading deals. It is available for mortgages up to £1 million and borrowers will need a 40% deposit to access this rate. It has a competitively priced £995 arrangement fee and the APR is 3.9%.If you would like help to secure a best buy mortgage, call us on 020 7016 0790. February 7, 2014