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Christmas mortgage

Fixed term mortgage rates hit record lows

According to the latest figures from MoneyFacts, average fixed term mortgage rates for five-year, ten-year and fifteen-year mortgages are all at the lowest level on record. Added to this, two-year fixes are also close to record level lows. This has led to some papers calling this a “Christmas Mortgage Price War”*.

What this means for home owners and home buyers

Adam Nanson, Managing Director for Your Mortgage Expert in Salisbury comments:

“At this time of year, we often find that mortgage rates fall slightly as lenders look to hit their annual targets**. This was compounded in 2019 by Brexit and the slight downturn in the property market with a push by lenders to give the mortgage market a boost.

“This is great news for home owners looking to remortgage as competition means someone can fix their mortgage for as little as 1.05% for two years, 1.44% for five years and 2.2% for 10 years*. It is also good news for first time buyers as, even with a deposit as low as 5%, they can get low rates on fixed term mortgage deals.”

How Your Mortgage Expert can help

Adam Nanson from Your Mortgage Expert continues:

“With hot competition within the mortgage market, it is more important than ever that those looking to mortgage their home shop around for the lowest deal. This can be a laborious task and some of the lowest deals are only available through mortgage brokers, like Your Mortgage Expert.

“We have access to an extensive panel of mortgages and can do all the hard work for you and have expert knowledge on all the current deals and can find the most appropriate mortgage for you. And, if you need it, we can also help advise you on what type of mortgage would suit your circumstances – whether fixed for two years, five years or more.

“So, whether you’re looking to fix your mortgage to protect your payments against the possible impact of Brexit, or simply want to reduce your monthly outgoings, we can help.”

If you are interested in having a no obligation chat about your mortgage, why not get in touch? We don’t charge anything up front, so by speaking to us, you are under no obligation. We are based in Salisbury, Wiltshire, but we can help you no matter where you live in the UK.

Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.

The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.

Please note, by clicking on the link below you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime are responsible for the accuracy of the information contained within the non-regulated site.

*Source: https://www.dailymail.co.uk/news/article-7770545/Christmas-mortgage-price-war-sees-home-loan-rates-fall-low-1-05.html

**Source: https://www.mortgagesolutions.co.uk/news/2019/12/09/headline-grabbing-low-mortgage-rates-are-a-scramble-to-meet-targets-analysis/

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