Mortgage rates are coming down

Yes, really!

Thinking about buying property or moving? Believe it or not now is a good time as mortgage rates are coming down. 

Despite rates in the wider economy rising, mortgage prices have been steadily falling in recent months, making many fixed-rate and variable deals extremely competitive. Added to that, landlords are currently selling up in their droves, so it's a good time to expand your Buy to Let (BTL) portfolio.

Interest rates

In the wake of last Autumn's distarous budget, the average five-year fixed-rate home loan was 7.6 per cent, but prices have come down steadily.

On 27th April 2023*:

  • Two year fixed rate mortgage 4.49% (based on 75% LTV); 5.95% (90% LTV)
  • Five year fixed rate mortgage 4.09% (based on 75%  LTV); 4.54% (90% LTV)

Most high street lenders' standard variable rate (SVR) in the UK is over 7.00% but there are some very competitive deals on the market if you know where to look.

Should you be put off buying a new home, remortgaging or investing in a buy to let? Certainly not! For the latest on house prices and the rising rental market, download our property newsletter.

* Trigold - rates correct at the time of search 27/4/2023, 2.30pm; the rates quoted may no longer be available, 

Please contact Gary Cosgrove if you have any mortgage questions: This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01792 583607