What are current fixed mortgage rates

Types of Mortgages

There are many deals for new borrowers or to remortgage an existing debt that typically fall into the following categories:

Variable

The interest rate rises and falls generally in line with the Bank of England base rate.

You receive a discounted fixed introductory rate for a certain period of between two and five years subject to status. At the end of this period, you'll pay the lender's variable rate.

These loans can be on fixed or variable interest rates with the loan being offset against your other current or savings accounts. These types of mortgages can knock several years off the length of the loan but check the terms are competitive.

Current Interest Rate Terms

Here are the current rates on offer in the marketplace today for standard variable products (SVR):

  • Bank of England base 0.5%.
  • Halifax SVR 3.5%.
  • Nationwide SVR 3.99%.
  • HSBC SVR 3.94% (this does not track the

    BOE).

  • Barclays SVR 4.99% (via the Woolwich).
  • Santander SVR 4.34%.

Today you may need a higher deposit than in recent years, with most of the best buys in the market lower than the SVRs quoted above.

Lenders in our Database

Other Information

The Financial Conduct Authority regulates the mortgage market lenders and specialist brokers in the UK. They also provide excellent advice and guidance on financial arrangements.

To find out how much you have to pay each month check out our new mortgage repayment calculator now! You'll see your total loan repayments each month and how much interest you pay over the lifetime of the mortgage.

Source: www.mortgagerates.org.uk

Category: Credit

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