A new survey suggests that despite many lenders increasing their rates, most mainstream mortgages are down compared to the start of the year.
For example, the cost of a two year tracker - both 80 and 90 per cent loan to value - now costs three per cent less than it did at the start of January.
The same product with a 70 per cent LTV is now two per cent lower and its 60 per cent LTV counterpart is now one per cent lower over the same period.
The analysis by Mortgage Brain looks at all main product types in the UK mortgage market for a repayment mortgage.
There are a few products that have bucked the trend, mostly around one per cent increases for a 70, 80 and 90 per cent LTV five year fixed rate mortgage.
“Having seen month on month increases during the last quarter of 2017, it’s all change once again with the cost of most mainstream mortgages falling over the past three months” explains Mark Lofthouse, chief executive of Mortgage Brain.
“We are seeing a number of lenders starting to increase their rates ahead of the likely base rate rise next month, however, so it could well be back to reporting on a wave of cost increases at the end of June.”
This week, tech startup Habito claims to have launched the world's...
The costs of the majority of mainstream mortgages increased in the...
Two successful high street estate agency directors claim to have invested...
The Bank of England has confirmed that base rate is to...
When we talk in general terms about the UK housing market,...
The plight of the nation’s first-time buyers may be the focus...
Dog-owning house buyers who want to live in areas of abundant...
You don’t have to simply accept things as they are when...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
Interesting report this week in Estate Agent Today on an analysis...
An anti-money laundering (AML) expert has queried why there is a...
%20A%20property%20tale%20for%20our%20times.png)
If you want to hear of a tale for our industry’s...
MPs have launched an inquiry on improving the home buying and...
The Law Society is facing backlash from conveyancers after issuing new...
Further estate agency regulation won’t be too expensive for the industry,...
Who are you and what does it say on...
Who are you, and what does it say on...
Who are you and what does it say on your...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment