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Today, Platform launched the lowest rate two-year fixed rate mortgage at 0.95% until 31 August 2023. The lender is part of The Co-operative Bank and only offers its mortgages through mortgage brokers. This new deal comes hot on the heels of a 0.99% fixed deal over two years also launched today by Nationwide Building Society. TSB launched the same rate a few weeks ago and there are now three mortgages with a rate of less than 1% fixed over two years.
Those borrowers with the best credit scores, no affordability issues, and a loan-to-value of 60% or below can access competitive rates from well-known brands, such as Santander, NatWest, Skipton Building Society and HSBC. The top ten lowest fixed rate mortgages right now range from 0.95% to 1.14%. The wider market is yet to see a wholesale reduction in rates, with averages for two-year fixed deals increasing from 2.52% in January 2021 to 2.58% in June 2021. Rachel Springall from Moneyfacts.co.uk is optimistic that the market is changing for the better, commenting:
“The motivation to switch from a standard variable rate (SVR) mortgage to a fixed rate may be obvious, but what is more evident over the past few months, is the peace of mind fixing for longer may offer. Despite a rise to the average two, five and 10-year fixed mortgage rate over the past few months, it is still worth considering a new fixed deal. The volatility of interest rates is a response to the pandemic, as the mortgage market contracted whilst lenders focused on their existing customers and less so on new business. However, the situation appears to be starting to change for the better in recent weeks as both rate competition and product volumes are starting to return.”
A good mortgage broker will be up to date with the changing mortgage market and can help borrowers to secure a competitive mortgage deal. Our preferred mortgage broker is Mortgage Advice Bureau, you can request a call back or call them on 0808 149 9177.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Each week the moneyfacts.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Prospective landlords or those with a buy-to-let (BTL) mortgage set to mature this year may be interested to see the latest data from Moneyfacts.co.uk, which highlights sustained levels of product availability in the sector, but warns that interest rates are rising.
Prospective landlords or those with a BTL mortgage set to mature are warned of sustained levels of product availability and rising interest rates
As the cost of living crisis continues to dominate headlines, data from the latest Moneyfacts UK Mortgage Trends Treasury Report shows that average mortgage rates continue to increase, with the average overall two-year fixed rate rising above 3% for the first time in over seven years.
Data from the latest Moneyfacts Mortgage Treasury Report shows that average mortgage rates continue to rise.
Each week the moneyfacts.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
Prospective landlords or those with a buy-to-let (BTL) mortgage set to mature this year may be interested to see the latest data from Moneyfacts.co.uk, which highlights sustained levels of product availability in the sector, but warns that interest rates are rising.
Prospective landlords or those with a BTL mortgage set to mature are warned of sustained levels of product availability and rising interest rates
As the cost of living crisis continues to dominate headlines, data from the latest Moneyfacts UK Mortgage Trends Treasury Report shows that average mortgage rates continue to increase, with the average overall two-year fixed rate rising above 3% for the first time in over seven years.
Data from the latest Moneyfacts Mortgage Treasury Report shows that average mortgage rates continue to rise.
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