Mortgage rates on a typical two-year fixed deal have fallen below 6% for the first time since mid-June, according to Moneyfacts.
The financial information service said the average rate was now 5.99%.
Competition among providers has intensified as they face a battle to attract a small pot of new homeowners, and to maintain current custom.
Competition among providers has intensified as they face a battle to attract a small pot of new homeowners, and to maintain current custom.
The rate on a typical two-year fixed mortgage rose sharply during Liz Truss’s premiership, then fell slightly before rising again.
It peaked at 6.86% in late July, and has been falling steadily since.
David Hollingworth, from broker L&C Mortgages, said that the best rates for two-year fixed deals were below 5%, or under 4.5% for five-year deals.
However, this was still significantly higher than many homeowners paid for more than a decade, and many of these deals were close to their end date.
Mortgage rates on a typical two-year fixed deal have fallen below 6% for the first time since mid-June, according to Moneyfacts.
Competition among providers has intensified as they face a battle to attract a small pot of new homeowners, and to maintain current custom.
The financial information service said the average rate was now 5.99%.
The rate on a typical two-year fixed mortgage rose sharply during Liz Truss’s premiership, then fell slightly before rising again.
Competition among providers has intensified as they face a battle to attract a small pot of new homeowners, and to maintain current custom.
Competition among providers has intensified as they face a battle to attract a small pot of new homeowners, and to maintain current custom.
The rate on a typical two-year fixed mortgage rose sharply during Liz Truss’s premiership, then fell slightly before rising again.
It peaked at 6.86% in late July, and has been falling steadily since.
David Hollingworth, from broker L&C Mortgages, said that the best rates for two-year fixed deals were below 5%, or under 4.5% for five-year deals.
However, this was still significantly higher than many homeowners paid for more than a decade, and many of these deals were close to their end date.
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