Mortgage rates dropped in 2015

remortgage-up-53-pc2015 will be remembered as the year time of mortgage price war, as the result rates dropped until they reached new all time lows, according to new research from Moneyfacts.co.uk. It said a new borrower with the average two-year fixed rate mortgage would be £805 a year better off than a year ago.

Charlotte Nelson, finance expert at Moneyfacts.co.uk, says: “On looking back at 2015 it’s hard to think of anything other than dropped mortgage rates, which in turn resulted in record low rates across the mortgage market. First time buyers have had a good year with the more number of products at 95% LTV increasing from 179 in 2014 to 249. There may be many uncertainties about the future, but one thing we do know is that these record low rates won’t last forever, so buyers looking for a fixed rate mortgage should act fast to secure the best deal.”

Leave a reply

Your email address will not be published.

Back to home page