Average mortgage rates are falling again, says Moneyfacts – Mortgage Finance Gazette – Z News

The average two-year fix is ​​now 5.62%, a decrease of 3 basis points From 5.65% last week. The typical five-year fix rate has now fallen by two basis points, to 5.59%.

Adam French, head of consumer finance at Moneyfacts, said: “Unlike recent weeks, some of the biggest cuts have been for lower-risk borrowers.

“The average two-year fixed rate at 60% loan-to-value fell by 8 basis points from 5.15% to 5.07%, while the average five-year equivalent rate fell by 4 basis points from 5.28% to 5.24%. With lenders such as Accord and NatWest also updating products and adjusting loan limits to attract borrowers with more equity.

“While it’s promising news for remortgage customers, those exiting cheap five-year fixed deals taken out in 2021 are still vulnerable to a shock. Based on a £250,000 mortgage over 25 years, a typical borrower securing a two-year fixed rate at 60% LTV would now pay around £1,472 per month, around £12 less per month (£144 less per year) than he would have paid per week ago.

Noticeable price and price changes

• AIB (NI) – Fixed interest rates were reduced by up to 16 basis points, with a small number increasing by 2 basis points; Completion dates have been extended.
• Agreed Home Loans – Select fixed rates reduced by up to 46 basis points or increased by up to 10 basis points; Tracking rates have been reduced by up to 21 basis points.
• Atom Bank – Reduces near-Prime fixed interest rates by 10 basis points; Completion dates have been extended.
• Buckinghamshire Building Society – RIO and fixed superannuation rates have been reduced by 6 basis points.
• Coventry Building Society – Fixed interest rates have been reduced by up to 20 basis points.
• Gatehouse Bank – Selected fixed rates discounted by 10 basis points.
• Generation H – Five-year fixed interest rates increased by 15 basis points.
• HSBC – reduced fixed interest rates by up to 11 basis points; Track rates have been reduced by up to 8 bps.
• Halifax – Select fixed interest rates have been reduced by up to 10 basis points.
• Kensington – fixed interest rates have been reduced slightly; Return-to-tracking rates increased by 15 basis points.
• Leeds Building Society – Reducing fixed interest rates by up to 5 basis points; Completion dates have been extended.
• Leek Building Society – Increase fixed fixed interest rates by up to 10 basis points; Completion dates have been extended.
• Lloyds Bank – Mixed changes, with fixed interest rates set to be reduced by up to 10 basis points or increased by up to 5 basis points.
• Marsden Building Society – Selected fixed and discounted variable rates saw mixed changes; Various completion dates have been extended.
• NatWest – Reducing quoted fixed rates by up to 11 basis points; Maximum loan sizes have been adjusted.
• NatWest Intermediary Solutions – Select fixed rates discounted by up to 10 basis points.
• Precision Mortgages – Fixed interest rates reduced by up to 35 basis points.
• Principality Building Society – Fixed interest rates have been reduced by up to 10 basis points.
• Progressive Building Society – Reducing fixed interest rates by up to 40 basis points; Discounted variable rates saw mixed movements.
• Royal Bank of Scotland – reducing fixed interest rates by up to 10 basis points; Maximum loan sizes have been adjusted.
• TSB – specified fixed rates discounted by up to 25 basis points.
• Yorkshire Building Society – reduced fixed rates by up to 15 basis points; Tracking rates were reduced by 9 basis points.
• Virgin Money – Expiry dates are extended across the range.

Notable product launches, recalls and range changes

• Mortgage Agreement – ​​Fixed rates for specified remortgages are withdrawn. New fixed and tracked remortgage products have been launched.
• Buckinghamshire Building Society – Selected discounted variable and fixed rates have been withdrawn.
• Cambridge Building Society – New base rates, interest-only rates and fixed first step rates have been launched, including a 98% LTV product.
• Gen H – Products at a fixed price of £499 are being recalled and not exchanged.
• Kensington – The specified fixed price has been withdrawn and the range has been restructured. New special five-year fixed rates have been launched.
• Leeds Building Society – Selected FTB, Reach and Income Plus products have been withdrawn.
• Lloyds Bank – Club Lloyds is bringing back fixed mortgage rates and withdrawing tracker products.
• Marsden Building Society – New discounted variable rate launched.
• NatWest – High value fixed rate withdrawn.
• Progressive Building Society – launching new fixed rates for purchase for three years; Renewal products spanned two to three years.
• Royal Bank of Scotland – Fixed interest rate withdrawal for high value mortgages.
• Vernon Building Society – Reduced variable ranges have been withdrawn and replaced