Average two-year fixed rate increases by 4 basis points, notes Moneyfacts


Meanwhile, the average rate of a three-year patch increased 1 basis point to 2.34%, the average five-year patch price gained 4 basis points to 2.66%, and the average rate for a 10-year fix has also increased. , this time at 2.99%.

Two-year corrections

At 95% LTV, the average rate fell 4 basis points, from 3.12% to 3.08%.

Elsewhere in this package, however, prices have increased. At 90% LTV, the average rate gained 5 basis points, ending the week at 2.55%, and, at 80% LTV, the average rate increased 9 basis points to 2.41%.

Three-year corrections

As with the two-year fixes, there was only one rate cut with this fix this time around – namely, at 90% LTV, the average rate dropped 2 basis points to 2.69%.

It was a different story at 95% LTV – here the rate increased by 3 basis points, to 3.21%, and at the other end, at 60% LTV, the average rate increased by 6 basis points , bringing it to 1.86%.

Five-year corrections

The most significant changes here include the average 95% LTV rate down 2 basis points, ending the week at 3.38%, and the 80% average LTV rate up 9 basis points, to 2.66%.

10 year fixes

There was only one change big enough to fit into the longer-term fixes, but it was eye-catching nonetheless. At 90% LTV, the average rate increased by 7 basis points, or 4.04%.

Moneyfacts financial expert Eleanor Williams said: “The price review continues to be the dominant theme as a variety of providers make updates that see average fixed rates change again this week.

“Among those applying the increases was Lloyds Bank, where various fixed rate products for remortgage borrowers rose as much as 0.35%. At Skipton Building Society, selected fixed rates have been increased up to 0.16% and a few two-year discounted variable rates have seen increases of up to 0.30%. Virgin Money has also increased some fixed rates up to 0.12%.

“Elsewhere, various lenders have balanced a combination of rate hikes and cuts in their changes to their ranges, including Halifax, where some offers for homebuyers have been cut as low as 0.20% or increased to as high as 0.20%. ‘to 0.25%, while products were increased up to 0.46%.

Santander also made a mix of changes, including increases of up to 0.15% on some products in lower LTV brackets, as well as reductions on other rates of up to 0.16% in lower LTV brackets. LTV levels of 85%, 90% and 95%.

“Barclays Mortgage made notable rate cuts of up to 0.42%, while West Brom Building Society also made cuts of up to 0.25% this week, and Atom Bank’s Digital Mortgages also included rate cuts of up to 0.20% among other adjustments for their range.


Comments are closed.