UK Mortgage rate cuts - without any Bank of England change

[WizardDr]

Some here view the UK as dysfunctional - however competition in the market has the following Best Mortgage Rates this week.

Product​

Rate ​

Period ​

APRC ​

First Time Buyer (Variable)	5.40% (V)​	Term​	5.6%​
First Time Buyer (Fixed)	4.54% (F)​	28 February 2029​	6.2%​
Remortgage (Variable)	4.99% (V)​	3 Years​	6.7%​
Remortgage (Fixed)	3.94% (F)​	28 February 2029​	5.9%​
Buy-to-let (Variable)	5.19% (V)​	2 Years​	8.9% ​
Buy-to-let (Fixed)	3.06% (F)​	2 Years​	9.7%​
Moving Home (Variable)	4.99% (V)​	3 Years​	6.7%​
Moving Home (Fixed)	3.94% (F)​	5 Years​	6.6%​

 

[WizardDr]

[UK] Mortgage rates could reach ‘sub 3%’ by year end, say brokers​

Mortgage rates could reach ‘sub 3%’ by year end, say brokers

The mortgage market may see “sub 3 per cent rates” by the end of the year, according to some brokers.

www.ftadviser.com

 

[WizardDr]

Just saying if we had competition ....

Average mortgage rates at lowest in over six months [UK]​

This follows these rates falling for the fifth consecutive month. Average mortgage rates continued their downward trajectory at the start of January, falling for the fifth consecutive month, according to Moneyfacts’ data. With the average rate for a two year fixed rate mortgage sitting at 5.93% on a first-of-month basis, and the average five-year deal at 5.55%, these rates are at their lowest in over six months. This will come as a “great relief for borrowers looking to refinance this year”, said Rachel Springall, Finance Expert at Moneyfactscompare.co.uk. However, Springall reiterated there are ‘big expectations’ for rates to continue falling in the coming weeks. Borrowers looking for a new deal, or those looking to get on the housing ladder, should regularly review lowest rates .....

 

[Brendan Burgess]

Hi Doc

Worth comparing the rates by LTV with the ECB and Bank of England rates.

Compare a good UK lender with the likes of Avant.

Switching seems much easier in the UK.

Brendan

 

[WizardDr]

UK 5 year fixed 3.88% - Nationwide BS today

with BoE rates much higher than ECB etc
more competition blah blah

 

[unknowninsider]

Most lenders price mortgage rates off Swap Rates - not BOE or ECB rates. Irish bank's are unique due to their deposit ratio.

 

[WizardDr]

Pricing doesn't mean that this is cost of funds or that they hedge.

The Irish Banks used to bs about 'hedging' (a bit like the energy companies) and it transpired that the hedges were internal between Treasury and Retail - great.