“We wish you a Merry Christmas, we wish you a Merry Christmas… And a Happy New Year!” We don’t want to burst your Christmas bubble and put a downer on things, but we have a news that the Mortgage Price War
“We wish you a Merry Christmas, we wish you a Merry Christmas… And a Happy New Year!” We don’t want to burst your Christmas bubble and put a downer on things, but we have a news that the Mortgage Price War has seen home Loan rates have fallen to as low as 1.05%. Average rates 5, 10 and 15-year mortgages all at the lowest level on record, with someone fixing their mortgages as little as 1.05% every two years. Stephen Kerrigan of MortgagesRM – Doncaster Fee Free Mortgage Advisor has said:
This is a Christmas Mortgage Price War, and it’s dragged the cost of home loans to record lows of 2019. A slowdown in the property market, which can be expected around this time of year, has fuelled competition among the high street lenders, forcing them to offer the cheapest deals to attract wary borrowers. The average rate for five, ten or even fifteen-year mortgages are all at the lowest level on record, while a two-year fix are close to record lows.
And for those who can stump up a 40% deposit, the best two-year deal comes from Halifax with a rate 1.05%.
Stephen Kerrigan of MortgagesRM – Doncaster Fee Free Mortgage Advisor has said:
“We also found that Mortgages can be fixed for 1.44% for 5 years.”
“Borrowers have never had it so good… Some movers are sitting on their hands as there is not as much activity as anticipated. This only increases the need for lenders to beat their rivals to the mark.”
The Mortgage Rate War is in the run-up to Christmas and it may be well attributed to providers’ appetite to keep the Mortgage and property market moving and to meet end-of-year lending targets. The Average rate on ten-year fixed rate mortgages had fallen to a record low of 2,76% and the cheapest deal was 2.2% from Doncaster, South Yorkshire. However, the best fifteen-year fixed rate deal at 2.55
% and there are also cheaper rates for First-Time Buyers. The Average two-year fixes are with a 5% deposit with a fallen deposit of 3.25% - from 4.21% in 2018. The Best rate is 2.39% from Progressive Building Society.