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...

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

Kevin was immensely helpful and approachable. He was knowledgeable and gave me all the information that I needed to make the right decision for me and my circumstances.

  • 5 star review on TrustPilotJennie

Simon was really helpful and very efficient throughout the whole process. I strongly recommend.

  • 5 star review on TrustPilotOgechi

Hats off to Matt and Helen for making the mortgage application process so smooth. Strongly recommended.

  • 5 star review on TrustPilotAJW

Great service throughout the process. Got a great rate! 1st class service, No hesitation to recommend.

  • 5 star review on TrustPilotDaniel