Wednesday, 6 July 2011

Consumers snap up great deals as mortgage wars commence...

After four years of banks declining applications to borrow money, there are emerging signs of a battle for market share.

With mortgage rates this quarter hitting their lowest for 23 years, the Bank of England are looking increasingly less likely to raise base rates with lenders all over the UK having to restrict lending. On average a two year tracker deal is currently priced at 3.37% while the average two-year deal comes in at a higher rate of 4.32%. 

On the market you can find even lower rates with Hinckley & Rugby offering a two-year deal at 2.99% if you can find a 25% deposit, with a fee of £990. 

CLICK HERE to compare conveyancing

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