{"id":6027447,"date":"2019-11-14T09:15:04","date_gmt":"2019-11-14T09:15:04","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6027447"},"modified":"2023-11-06T16:28:27","modified_gmt":"2023-11-06T15:28:27","slug":"1-mortgages-make-a-comeback-as-lenders-cut-fixed-rates-again","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/11\/14\/1-mortgages-make-a-comeback-as-lenders-cut-fixed-rates-again\/","title":{"rendered":"1% mortgages make a comeback as lenders cut fixed rates again"},"content":{"rendered":"<p><strong>Some lenders have been slashing fixed-rate deals following the hint of an interest rate cut coming from the Bank of England after two members of its key policy body voted for cheaper borrowing.<\/strong><\/p>\n<p>Rates on five-year fixed-rate mortgages are at their lowest since Atom Bank briefly introduced a 1.29% five-year fix in 2017, and for the first time, borrowers have the choice of multiple lenders all offering similarly low rates. According to Andrew Montlake of mortgage broker Coreco: &#8220;This is as low as mainstream rates have been.&#8221;<\/p>\n<h4>Competitive five-year fixed rates<\/h4>\n<p>The average five-year fixed rate is 2.60%, but several lenders&#8217; rates now sit below 1.50%. Halifax tops the five-year fixed rate chart for home movers with its 1.46% with a fee of \u00a3995. Borrowers seeking a remortgage deal could get as low as 1.46% from Virgin Money and a fee of \u00a31,495.00, while <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/10\/14\/slower-rate-increases-for-first-time-buyers-with-bigger-deposits\/\">first-time buyers<\/a> can secure an appealing fee-free rate of 2.75% from Barclays Mortgage on 95% loan-to-value (LTV).<\/p>\n<h4>Two-year fixes are looking attractive too<\/h4>\n<p>Halifax is offering an incredibly low rate of 1.08% fixed for two years to home movers with a \u00a3995.00 fee, on a 60% loan to value. Santander is topping the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/07\/26\/remortgage-applications-to-soar-25bn-worth-deals-end\/\">remortgage<\/a> charts with a 1.21% two-year fixed deal on a 60% LTV and a \u00a3999.00 product fee. And first-time buyers could get 2.59% fixed for two years with Bath Building Society with a fee of \u00a3872.00<\/p>\n<p>The mortgage market has changed this year as lenders such as Secure Trust Bank, Tesco and Sainsbury&#8217;s, under increased pricing pressure, have chosen to leave the market. Even Santander has attributed a hit to its profits as a result of low mortgage rates driven by intense <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/08\/27\/intense-competition-drives-down-five-year-fixed-rates\/\">market competition<\/a>. But with a decrease in the base rate looming and the competition showing no sign of abating, borrowers are reaping the benefits while it lasts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some lenders have been slashing fixed-rate deals following the hint of an interest rate cut coming from the Bank of England after two members of its key policy body voted for cheaper borrowing. Rates on five-year fixed-rate mortgages are at their lowest since Atom Bank briefly introduced a 1.29% five-year fix in 2017, and for<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/11\/14\/1-mortgages-make-a-comeback-as-lenders-cut-fixed-rates-again\/\" title=\"Read1% mortgages make a comeback as lenders cut fixed rates again\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3380,"featured_media":15281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[107],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6027447"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=6027447"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6027447\/revisions"}],"predecessor-version":[{"id":6098088,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6027447\/revisions\/6098088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/15281"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=6027447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=6027447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=6027447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}