Mortgage repayments reach their lowest for almost 5 years.
Mortgage rates have reached record lows, which has made monthly mortgage repayments the lowest they have been for four and a half years.
Many who have taken on a new mortgage in the last 6 months are benefiting from lenders low rates deals at all deposit levels.
For the first 6 months of this year the best mortgage rates were restricted to those with up a 40% deposit, for the last couple of months this situation has changed and lower deposit business is now of great interest to lenders.
At high LTV levels are now many more mortgage deals at competitive levels. Competition for lower deposit mortgage business is heating up and a rate war is predicted, smaller deposit buyers are due to benefit a great deal.
If you have a fixed rate mortgage deal which is about to end, you could benefit from a significant reduction in your monthly mortgage repayment by remortgaging.
Currently 2 year fixed rate mortgages are available with rates from as low as 1.48%. If you want the added security of a longer term deal, then 5 year fix rates start from just under 3%.
To make to most of cheap mortgage rates while they remain on offer, call an adviser at Deal Direct. Let us find you a low rate mortgage to buy your first home, move up the property ladder or remortgage.
Call an impartial adviser on 0800 048 8828.
