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Weekly rate watch: two-year fix remains at 2.49%

The average two-year fixed rate has remained at 2.49 per cent for the third consecutive week, according to Moneyfacts.

This figure is down two basis points from the 2.51 per cent recorded a year ago.

Rates within the 65 per cent LTV category and the 90 per cent LTV category have increased from 2.01 per cent to 2.02 per cent, and 2.64 per cent to 2.65 per cent, respectively.

Meanwhile, the 60 per cent LTV category, 70 per cent LTV category, 75 per cent LTV category, 80 per cent LTV category, 85 per cent LTV category, and the 95 per cent LTV category have all remained unchanged.

Moneyfacts finance expert Darren Cook says: “After several months of continued rate cuts, it is unlikely that rates will be dropped further.

“Following the Bank of England’s recent warning, it would seem as if this has created a break in the competition with lenders having stopped pushing rates down.

“In addition, with Tesco withdrawing from the market this too seems to have had an effect on the current market.”


Lenders to review risks after BoE warning: Moneyfacts

Mortgage lenders are likely to scrutinise their pricing of high loan-to-income and high loan-to-value deals after a strong warning from the Bank of England, Moneyfacts predicts. Analysis by the comparison website shows how lenders have been lowering the cost of their riskier loans over time prompting concern from the Bank’s Prudential Regulation Authority. On Friday […]


MPs to scrutinise govt affordable housing plans

Cross-party MPs on the Housing Communities and Local Government Committee have launched an inquiry into the long-term delivery of social and affordable rented homes. The government aims to build 300,000 new homes per year by mid-2020, but only an estimated 3 per cent of these are expected to be social housing, the committee says. Housing […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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