- One-year money is up 0.07% at 4.65%
- Two-year money is up 0.08% at 4.65%
- Three-year money is up 0.08% at 4.69%
- Five-year money is up 0.08% at 4.72%
The rate withdrawal emails are coming thick and fast. It’s difficult to keep track of all of the deadlines for application submissions. Some lenders even withdrew the rates they launched last week.
Plaudits for Chelsea. Its three-year fix is priced at 4.49%, down from 4.59% and its five-year fixed is now 4.59%, down from 4.69%. It has also cut its two-year fixed rate from 4.49% to 3.99% but tread carefully – it has a one-year early repayment charge overhang. Mortgage Express has pulled its fixed rate range. The new range has not yet been launched but it has given healthy notice for applications on existing rates. The last dates for DIPs is November 2, the last date for unpackaged applications is November 30 and the last date for packaged applications is December 7.
Well done to Halifax for giving a generous notice when it pulled its two-year fix at 4.29%. The email went out on Wed-nesday afternoon with applications needing to be keyed by 8pm on Monday evening. The rate deserves a longe-vity award, having been launched on July 15.
Abbey also pulled its fixed rates. The new rates have not yet been released but Abbey has told us it will be introducing a two-year fixed rate at 4.49% up to 60% LTV, which has a 699 fee which can be added to the loan.
The Mortgage Business launched an 85% self-cert, self-build mortgage at 5.85%.
Over in the City, three-month LIBOR is up 0.01% at 4.58%. The base rate is now 4.50% so the market sees little chance of change in the next three months. And 12-month LIBOR is up 0.07%at 4.57%, indicating the City thinks there will not be further changes to the base rate in the next 12 months.
Jonathan Cornell is technical director at Hamptons International Mortgages Mortgages