By Mark Dickety on

News

Several major lenders have recently introduced mortgage deals with interest rates below 4%…

At Mortgage Decisions, it is noteworthy that several major lenders have recently introduced mortgage deals with interest rates below 4% for loans with a 60% loan-to-value ratio.

Typically, interest rates are lower for those with larger deposits; however, even in this scenario, rates have remained stubbornly above 4% over the past year, especially for 2-year fixed deals. The anticipated cuts from the Bank of England have taken longer to materialize than expected.

Following the Bank of England’s decision to lower rates in its February meeting—from 4.75% to 4.5%—and with consensus forecasts predicting rates could drop to 3.75% by the end of the year, lenders are now feeling more confident and competitive.

While these sub-4% rates are primarily available to borrowers with larger deposits, this development signifies a positive shift in market sentiment and indicates potential movement in rates for other products in the coming months.

This surge in competition within the mortgage market is encouraging news for borrowers.

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is £595.

Mark Dickety
Mark is an experienced Mortgage and Protection Adviser who has been providing mortgage advice since 2010. He thrives on finding the right solution for each of his clients' requirements ensuring they have the best experience possible.
Back to blog

Related Blogs

BANK OF ENGLAND LOWERS BASE RATE

After two years of nearly continuous interest rate increases by the Bank of England, followed by an additional year of persistently high rates that have placed considerable strain on many...
buy to let guide

Buy to let mortgages: A beginner’s guide

Welcome to our Buy-to-Let Guide, your ultimate resource for navigating the dynamic world of property investment. If you are a newcomer exploring the potential of rental income, this guide is...

Mortgage Decisions have a super friendly and supportive team that work with them. Both Matt and Helen gave us an effortless experience handling everything for us with ease taking all the stress out of finding the correct mortgage for us. Highly recommend getting in contact with them if you require any services that they do.

  • 5 star review on TrustPilotPaul

I just wanted to say thank Megan for your help so far - it's been truly appreciated. You've made the process a lot smoother after dilemma and I’m really grateful for your support.

  • 5 star review on TrustPilotCharlie

Mary from mortgage decisions was so helpful from start to finish, she made the whole process simple, even emailing at weekends to help, thanks again.

  • 5 star review on TrustPilotStephen

The confusing process of buying a house was made clear and easy thanks to the great work from Simon. Could not of asked for anything more. Cheers mate.

  • 5 star review on TrustPilotLuke

Helen and Matt worked effectively and efficiently to achieve a mortgage deal for us. Highly recommend Mortgage Decisions and this team for keeping in touch regarding the progress throughout.

  • 5 star review on TrustPilotCustomer