Mortgage Competition Pushes Interest Rates to New Low
Posted on 31 March 2015
The average cost of a two year fixed rate mortgage for borrowers who have a 25% deposit has fallen below 2% for the first time. Borrowers with at least a 35% deposit are now able to find deals at less than 1.25%!
According to the Guardian, the number of mortgages taken out has continued to rise as borrowers become increasingly confident that mortgage rates are unlikely to rise in the foreseeable future and this in turn is sparking a price war between lenders.
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