Fixed mortgage rate dropped on average since January

July 26, 2016

Moneyfacts.co.uk the financial information service yesterday published a six-month review of the mortgage market, in it they said the cost of all types of fixed rate mortgage had dropped on average since January.

They mention that it is clear that the mortgage market had a significant boost during the first half of 2016, and this led to some of the lowest rates on record. Their  latest research showed that, since the start of the year average rates across all fixed mortgage terms have fallen, making it a great time for mortgage borrowers

According to Moneyfacts UK mortgage interest rates which are  already at record lows  have fallen in the first half of the year, it said the lower costs were driven by competition.

They mention that even though loan costs have fallen, many potential first-time buyers still struggle to raise the funds required.

Source Moneyfacts.co.uk

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Section 21s continue to rise ahead of looming ban

The latest research industry insight from LegalforLandlords Section 21 “no-fault” evictions continued to rise in 2025, increasing by 1.7% following a sharp 20.4% surge the previous year. This sustained growth highlights landlords’ continued reliance on Section 21 notices, raising important questions about how possession will be regained once they are outlawed under the Renters’ Rights Act,…
Read More →
Estate Agent Talk

Rightmove house price data showing a 0.8% month on month increase

Commenting on the latest Rightmove house price data showing a 0.8% month on month increase, Daniel Austin, CEO and co-founder at ASK Partners, said: “Today’s rise in UK house prices points to underlying resilience, but momentum remains constrained by affordability pressures and a ‘higher for longer’ interest rate environment. While recent rate cuts signal easing…
Read More →
Breaking News

Canary Wharf tops the London Marathon route

The latest insight from property management specialist Rushbrook & Rathbone has found that E14 is the strongest postcode along the London Marathon route for landlords looking to invest in the capital’s rental market, delivering an estimated average yield of 6.6%. Rushbrook & Rathbone analysed current asking house prices and rents across postcode districts spanning the London…
Read More →
Breaking News

46% surge in remortgaging activity in Q1

Stonebridge Mortgage Market Index    Overall mortgage activity rose 24.6% in Q1 while applications for home purchase softened Stonebridge today relaunches its Mortgage Market Briefing as a quarterly Mortgage Market Index   The volume of remortgage applications surged 46% in Q1 prompting overall mortgage activity to jump by a quarter, Stonebridge can reveal. The mortgage…
Read More →
Rightmove logo
Breaking News

Housing market remains steady despite higher mortgage rates

The housing market remains steady so far in April despite higher mortgage rates due to global uncertainty. Average new seller asking prices rise by 0.8% (+£2,929) in April to £373,971. This is consistent with February and March, but is below the long-term average for April. The average two‑year fixed rate has risen to 5.42%, from…
Read More →
Breaking News

Housing market springs back into life

The latest research by Yopa reveals that as Spring begins, 6.3% more homes are on England’s housing market today compared to the start of the year, with some counties seeing increases of more than 16%, showcasing growing seller confidence in a market that is on the up. Yopa has analysed residential listings data from March…
Read More →