Mail on Sunday - Tracker rates getting better
Fixed-rate mortgages are all the rage, with almost nine in ten borrowers opting to grab one before interest rates go up. But are they always the right choice?
‘The problem for borrowers is some of the best fixed-rate deals have already been withdrawn,’ says Aaron Strutt of mortgage broker Trinity Financial in Mayfair, Central London.
Researchers at Moneyfacts say the average five-year fixed-rate deal for big deposit or high equity borrowers is nearly 3.4 per cent – 0.25 percentage points higher than three months ago, with half a dozen lenders withdrawing good rates and replacing them with higher priced offers in the past two weeks alone.
The best tracker deals, however, remain unchanged and are starting to look increasingly competitive.
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