Record number of homebuyers taking fixed rate mortgages
The percentage of homebuyers choosing to fix their mortgage rate increased from 86% in September 2012 to 93% this September.
According to the National Mortgage Index, the average two-year fixed rate fell by 0.13% to 3.56% in September. The average three-year fixed rate hit an all-time low of 3.92% and the average five-year fix was 3.87%.
NatWest for Intermediaries has a two-year fixed rate at 1.94% and this mortgage has low arrangement fee at £995. The lender requires a 40% deposit and the maximum loan size is £1.5 million. After the fixed rate expires, the mortgage reverts to the lenders standard variable rate at 4% and the APR is 3.9%.
If you would like help to secure a best buy mortgage, call us on 020 7016 0790.
October 18, 2013
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