Mortgage Rates have never been so cheap!
Articles in the national press this week say mortgage rates have never been so cheap! and may fall even lower in the coming weeks (1) Buy to let lending has fallen by 44% and seems to be sparking a price war in the residential lending market with lenders desperate for business. (1).
Mortgage rates for first time buyers are as low as 1.09% for two years fixed interest rate, and 1.7% for five years fixed interest rate (2) Depending on factors such as the amount you have available for deposit and whether you are eligible for discounts we can provide tailor made advice to suit your individual circumstances.
Savings can also be made by existing homeowners via remortgage or new mortgage deals. Again fixed rates are at historically low rates. Two year fixed rate mortgage rates this week are as low as 1.14 % and five year fixed rate mortgage rates are as low as 1.7% (2)
Buy to let lending has fallen 44% in a year according to the council of mortgage lenders, due to the recent increases in stamp duty levels. Gross mortgage lending still remains strong and increased 17% from February to March (3).
Contact The Mortgage Clinic now for mortgage advice and to discuss options available to enjoy the long term security of such advantageous rates.
- The Mail online Saturday 21st April 2017
- Trigold Mortgage sourcing software 23/04/2017
- The Council of Mortgage Lenders 20th April 2017