Five-year fixed rate mortgages available from 3.64%

by Aaron Strutt

Jul 15 2011

Mortgage lenders have really started to push the boat out and rates are being lowered beyond expectations. Best buy tables have been getting more attractive by the week as banks look to offer cheaper rates than their competitors.

Accord Mortgages, the broker lending arm of the Yorkshire Building Society, is offering a five-year fixed rate at 3.64% and it has a selection of the lowest mortgage rates in the market. Their 3.64% rate is available to borrowers with a 25% deposit and the £1995 arrangement fee can be added to the loan.

NatWest Intermediary Solutions has also decided to have a period topping the best buys and they offer a remarkably low two-year fixed rate at 2.55%. Just a few weeks ago a handful of lenders started to offer two-year fixes at 2.89% and they have just got cheaper. The 2.55% fixed rate is available if you are looking to purchase or remortgage a property. The arrangement fee is £999 and a 40% deposit is required.

Aaron Strutt, a broker at Trinity Financial, says: “We are now at the stage where more borrowers are going to pay that bit extra for the security of a fixed rate. Many of our clients are looking for shorter term rates at the moment becuase they are so cheap."

July 15, 2011