Average two-year fix continues to fall: Moneyfacts

Data from Moneyfacts shows that the average two-year fixed rate mortgage came in at 2.52 per cent as of 7 September.

This continues a downward trend that started from 18 August, when the average two-year fix stood at 2.55 per cent, the highest level since July 2016. However, the average rate is still some way off from its lowest point in the 52-week range: 2.17 per cent, witnessed on 25 September last year.

Recent lenders that have reduced rates include Yorkshire Building Society, NatWest, and Aldermore.

Moneyfacts financial expert Charlotte Nelson comments: “Because of the recent base rate rise, many people on SVRs are seeing their monthly repayments going up and are therefore more likely to be looking reconsidering their options.

“Providers have either kept rates at the same level or started competing to attract these customers… furthermore, we’re seeing revamps across all sorts of products, including high LTV mortgages.”

Recommended

Money - thumbnail

Average five-year fixed rate deal hits high in August: Moneyfacts

Moneyfacts data shows that as of today, the average five-year fixed rate is 2.92 per cent, slightly down from the 52-week high of 2.95 per cent which occurred earlier in the month. A year ago, the average figure stood at 2.77 per cent, close to the 52-week low of 2.74 per cent, seen on 26 […]

9 October thumbnail

Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.

Newsletter

News and expert analysis straight to your inbox

Sign up