![]() ![]() “Two-year fixed rates have edged below 5% in the last couple of weeks, with major players like Halifax and HSBC joining the leading pack. Lenders could see this as an opportunity to grab greater market share with lower rates, boosting business in the run up to the New Year.ĭavid Hollingworth, associate director at L&C Mortgages says: “Better-than-expected inflation data should help underpin the improvements in rate outlook that have already seen fixed mortgage rates dropping. Lower inflation means the Bank of England is less likely to increase the Bank Rate (currently at 5.25%) any further. Virgin Money also cut rates and is offering the lowest five-year fix for remortgage at 4.7%.īrokers expect the mortgage price war will intensify in the remaining weeks of the year, fuelled by the fall in inflation recorded today by the Office for National Statistics. Yesterday Halifax Intermediaries cut rates to offer a market-leading five-year fixed rate for purchase at 4.53%. Both this deal and the purchase rate at 4.59% are for borrowers with at least 40% equity or deposit (60% loan to value) and each has a £999 fee. The new rates and deals, available through brokers, includes a five-year fixed rate for remortgage at 4.84%. ![]() HSBC is offering a five-year fixed rate for home purchase at 4.59% following rate reductions of up to 0.36 percentage points on its fixed home loans. You can also enter your details here to see what’s available on today’s marketġ5 November: Lenders Energised By Inflation Falling To 4.6% We have a suite of mortgage calculators to help you work out how repayments will affect your household finances, what you could save by remortgaging, and the beneficial impact of overpaying. Mortgage News: HSBC Confirms Reduced Rates As Price War Builds Momentum ![]() You should always check with the product provider to ensure that information provided is the most up to date. While we work hard to provide accurate and up to date information at the time of publication that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. These “affiliate links” may generate income for our site when you click on them. Second, we also include links to advertisers’ offers in some of our articles. This site does not include all companies or products available within the market. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This comes from two main sources.įirst, we provide paid placements to advertisers to present their offers. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. ![]()
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