What has been happening to mortgage rates over the last few weeks?
There have been very few changes to fixed and tracker rate mortgages over the last few weeks, meaning a selection of two- and five-year fixes remain available at rates well below 4%. For the first time in quite a while, there were very few amendments when updating our latest £1 million+ mortgage table.
There is little doubt that the upcoming budget has slowed the sales market, as concerns about what the Chancellor will announce in her budget have arisen; however, transactions are still being completed.
Homebuyers paid £10.8bn in Stamp Duty between January and September this year, according to analysis by Coventry Building Society of the latest HMRC data – a rise of 22% on the £8.8bn collected over the same period in 2024.
Which lenders have the most competitive mortgage rates?
Santander for Intermediaries and Nationwide offer a selection of competitively priced two-year fixes, priced around 3.80%. Meanwhile, Santander, NatWest, and Halifax have three-year and five-year fixes available at rates below 4%.
What about inflation figures?
Food prices are increasing at their slowest rate in more than a year as inflation remained unchanged for the third month in a row. The UK inflation rate remained stable at 3.8% in September, which was lower than expected, according to official figures. This means there is a chance the Bank of England base rate could come down again from 4% over the coming months, possibly in December.
How have we been helping our clients?
Trinity’s brokers have been busy helping our clients in various financial situations to buy properties and remortgage.
We recently helped two first-time buyers secure a £750,000 part-interest-only mortgage to help them lower their costs. We also arranged a £500,000 mortgage for one of our longer-term clients, who was going through a divorce, so she could buy out her husband and stay in the family home.
We secured two mortgages worth £2 million for a restaurateur with a gap in his trading figures due to an ongoing premises refurbishment, in addition to ensuring a remortgage for a client with a farmhouse and 25 acres of land.
Call Trinity Financial on 020 7016 0790 to secure a mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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