The average interest rate for a 90% LTV two-year fixed rate deal has dropped to its lowest level since January 2008, at 5.39%, according to Moneyfacts.
Its figures showed current rates are down from 6.05% six months ago and 5.97% one year ago, as lenders have begun to bring out more competitive deals. In addition, average five-year fixed rate at 90% LTV has dropped to 5.87%, 1% less than six months ago and down from 6.66% a year ago. Louise Holmes, spokesperson for Moneyfacts.co.uk, commented: "Substantial rate reductions in the higher LTV market will be encouraging news for borrowers. "The availability of higher LTV mortgage products has increased over the past couple of years. Lenders have begun to launch more competitive produc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
