The average interest rate on a new
fixed rate mortgage fell a further 0.591 over the past 12 months, whilst there was no change in the standard variable rate over the same period.
M2 EQUITYBITES-October 9, 2015-Market leading
fixed rate mortgage launched by Tesco Bank
Effective from 8 October 2015, the building society is making reductions on a number of two, three, five and ten year deals, with rates for those with a 10% deposit starting at 2.79% for a two year
fixed rate mortgage and 3.54% for a five year
fixed rate mortgage and both products come with a GBP999 fee.
The mutual, which has its roots in Huddersfield, was named Best Longer Term
Fixed Rate Mortgage Provider and Best Building Society Savings Provider.
* $15.3 million
fixed rate mortgage to purchase a multi family housing property with 296 units in Meriden, Conn.
Five years ago, even two years ago a
fixed rate mortgage seemed, to many of us, good financial thinking.
Figures from financial information group Moneyfacts show the average cost of a two-year
fixed rate mortgage has dropped to 4.5%, down from 4.58% in March, while five-year fixed rate loans now average 5.62%, compared with 5.66% two months earlier.
Barclays
Fixed Rate Mortgage will give homebuyers the added security of knowing how much their monthly repayments will be during the fixed rate period, enabling them to budget and plan ahead.
The press release said that, as part of the introduction of Barclays
Fixed Rate Mortgage, potential homeowners can expect a full refund for valuation charges, processing and application fees will be waived too.
Interest rates on its existing
fixed rate mortgage range were also reduced for the fifth time this year, with the group cutting them by up to 0.36 per cent, while it is also offering a range of fee-free, five-year fixed rate loans for people remortgaging.
But the cost of a three-year deal has continued to rise since the summer to 5.6%, while a five-year
fixed rate mortgage currently costs 6.15% on average.