inews -Mortgage brokers sound ‘death-knell’ for 5% two-year fixed rate loans as lenders pull cheapest deals
The number of new mortgage deals fixed at under 6 per cent has slumped by almost a third in just a week, exclusive figures for i reveal, leading to fears 5 per cent fixed rate deals will soon no longer be available.
Exclusive data from Moneyfacts for i shows as of Friday only 27 per cent of all two-year fixes on the market are below 6 per cent. Last week, it was 40 per cent; a year ago it was 98 per cent. There are no two-year fixes at all below 5 per cent.
Aaron Strutt, product director at Trinity Financial, says: “There’s no getting away from the fact that deals below 5 per cent are really much harder to find. And there are probably still some lenders that are going to re-price, still, even though a lot of them have already increased their products since the base rate rose last week.”
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
