Financial Times - Mortgage lenders cut 10-year fixed rates ahead of Bank rate decision
Mortgage lenders are cutting interest rates on 10-year fixed-rate deals while raising them on short-term loans, in a sign that borrowers are seeking certainty over costs amid expectations of rising inflation and interest rates.
Aaron Strutt, product director at broker Trinity Financial, said many fixed-rate mortgages were becoming more costly in anticipation of another base rate increase. But he added that the expected rises would still leave mortgage rates cheap in historical terms. “The cheapest two-year fixes are a fair bit more expensive than they were, but if you want a five-year fix they are still competitively priced.”
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