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Mainstream mortgage prices fell in Q1: Mortgage Brain

Most mainstream mortgage prices have dropped over the past three months, according to Mortgage Brain.

The firm says the cost of a five-year fixed rate loan at 70 per cent LTV is now 2.04 per cent, 2 per cent lower than it was at the beginning of April 2017.

The cost of a 70 per cent LTV two-year tracker and a 70 and 80 per cent LTV three-year fixed mortgage have also come down by 2 per cent over the past quarter.

A slight drop in cost has also been recorded for a two-year fixed loan from 60 to 80 per cent LTV, an 80 per cent LTV two-year tracker and a 60 per cent LTV five year-fixed.

All are now 1 per cent lower than they were in April.

Mortgage Brain chief executive Mark Lofthouse says: “Although the reductions in costs over the past three months are relatively small, they do follow a period of stability and should be welcome news to a lot of today’s potential homebuyers or those looking to remortgage.

“Our longer term analysis of the most popular mainstream mortgages also shows a strong mix of rate and cost reductions which means that borrowers looking to take out a mortgage today can benefit from lower monthly repayments.”

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