New mortgage rate low

A new low for mortgage rates has been announced by the HSBC offering deals at 1.99% on a five year fixed deal, which is just about the expected duration of the next parliament, on the face of it this appears an amazing deal, however borrowers will have to put down a 40% deposit.

This low rate could well spark a price war with rates being cut by other  lenders so as to maintain their share of the market.  The London and County Mortgage brokers are quoted as saying that the  drop was now  down to an astonishingly low rate, they felt the bank was setting a marker for other lenders.

The chance to lock into such a low rate is attractive to many borrowers especially those who fear the bank base rate could rise over the next five years with a new Government in power.

 

 

 

 

 

 

 

 

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

Love or Hate Rightmove
Breaking News

Rightmove 2024 forecast: prices to drop by 1% as competition increases among sellers

Rightmove predicts that average new seller asking prices will be 1% lower nationally by the end of 2024, as the market continues its transition to more normal levels of activity following the frenetic post-pandemic period.  Motivated sellers are likely to have to price more competitively to secure a buyer in 2024, and agents will work…
Read More
Estate Agent Talk

Pflugerville, TX: Emerging Trends in New Home Construction

The Rise of Sustainable Living in Pflugerville Nestled in the heart of Texas, Pflugerville is witnessing a significant shift towards sustainable living in new home construction. Builders and developers are increasingly focusing on eco-friendly materials and energy-efficient designs. This trend is not just a nod to environmental consciousness but also a response to the growing…
Read More
Home and Living

How to Choose the Best Shower Cabin For Your Budget

If you are looking for the best shower cabin to fit your budget, then allow us to be a guide on this shopping adventure! Whether you’re looking to invest in something luxurious and timeless or something more affordable and modern, it can be daunting knowing where even to start. Fortunately, we have all the key…
Read More
Breaking News

Breaking Property News – 01/12/2023

Daily bite-sized proptech and property news in partnership with Proptech-X. Full material Information Guidance B & C published by NTSELAT all you need to know New guidance for sales and letting agents covers all three phases of programme Aim is to help agents to meet their existing legal requirements under the CPRs Material information guides…
Read More
where to hide cash at home
Finance

A Practical Guide To Smart Decision-Making While Investing

Investing is a financial concept that involves an intricate balance of grasping basics, strategy, and foresight, which takes place within the vast and ever-evolving financial environment. A wise investor must navigate their way through various choices. The following is a guide that gives basic and practical approaches to wise decision-making in investment. With this understanding,…
Read More
Home and Living

Navigating a Move with Your Baby: 7 Sanity-Saving Tips

Moving to a new home can be exciting and stressful, and adding a baby to the mix becomes a whole new adventure. Babies require extra attention and care during a move, but with some thoughtful planning and a few sanity-saving tips, you can make the transition smoother for you and your little one. In this…
Read More