Greater Mortgage Choice For Homebuyers

In some good news for buyers, mortgage choice overall rose month-on-month, to 6,004 options, its highest level since March 2008.

The availability of deals at the 90% loan-to-value tier has increased to its highest point in four years at 76

Rachel Springall, finance expert at Moneyfacts, said: “Lenders reacted to the change in swap rates, leading to numerous repricing of fixed rate deals, no doubt making it a challenging situation for borrowers and brokers to keep on top of the changes.

“The rate volatility led to a rise in both the overall average two- and five-year fixed rates, the opposite direction borrowers may well have hoped for after positive rate cuts recorded a month prior. However, it is worth noting that fixed rates remain lower than at the start of 2024 and there are still some decent options available for borrowers to compare.”

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