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Mortgage rates fall across the board

Mortgages costs continue to fall with fixed and tracker rates now cheaper than three months ago at various LTVs.

The average two-year fixed rate to 90% LTV now costs £4.32 a month per £1,000 borrowed, down from £4.52 in November, a drop of 4.4%.

The typical five-year tracker to 60% LTV now costs £4.39 a month per £1,000, down from £4.74 in November, a drop of 7.4%.


Five-year trackers to 90% LTV have dropped more than 10% from £5.30 to £4.76 a month over three months, according to new product data analysis from UKMortgages.

Its data also shows that a five-year tracker to 60% LTV is now 12% cheaper than 12 months ago.

Falling rates can add up to an annual saving of as much £1,098 a year on a £150,000 mortgage. 

Mark Lofthouse, chief executive of UKMortgages, said: “Our new product data analysis provides a very clear picture of the true cost of a repayment mortgage and can help potential homebuyers, or those looking to remortgage their property, to make like-for-like comparisons across all mainstream product types.

“A mortgage is the single most important financial decision many of us will make and selecting the best mortgage isn’t just about interest rates - there are many other factors that need to be taken into account."


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