Great news for borrowers as mortgage rates fall!
Earlier this month, Halifax cut its first-time buyer and home mover rates. Two-year fixed deals now start at 1.49 per cent, while a 2.24 per cent rate is available for those borrowers who want to fix for five years.
For anyone seeking to plan their monthly mortgage payments for the longer term, we can access a 10-year 2.75 per cent fixed rate product currently being offered by Leeds Building Society. While a 35 per cent deposit is required, and a product fee of £1,499 can be added to the loan, it is the most competitive rate available for loans of its type.
Even if you want to fix your mortgage for two, three or five years, we can get you a competitive deal that matches your individual requirements. The vast range of products available at the moment has already led to more borrowers opting to remortgage, so they can take advantage of lower fixed rates.
According to the latest figures from the Council of Mortgage Lenders (CML), £5.8bn was given to borrowers who chose to remortgage their homes at the beginning of this year. This represents an increase of 32 per cent from the figure for January 2015, with a total of 33,100 loans being advanced.
At Police Mutual, we don't charge you anything for our mortgage advice service. We aim to help each of our members by getting the best possible product for them. If your current deal is coming to an end, why not take a look at our website or call us today on 0800 032 5333? Please note that lenders update products constantly, rates can be withdrawn at any time and with short notice.