And with eight out of ten brokers believing that customer appetite for these products is intensifying, we expect to see more products coming through.
First up this week is TSB’s ten-year fix. This 3.44% rate is available on just 10% deposit, making it a possible option for savings-poor home buyers. No product or application fee is required and borrowers can refinance or leave after five years, without being charged for early repayment.
Next is Skipton Building Society, which has been busy slashing rates across its two-year fixed rate deals, which total 26 purchase and re-mortgage products. The result is the Society’s cheapest ever two-year fixed rate mortgage. Available at just 1.36% with a £995 fee, the deal is suitable for borrowers with a 50% deposit.
The mutual is also offering no-fee deals: one at 1.95% for 75% LTV, and another at 3.82% for 90% LTV. And upfront application fees have been scrapped in the last few months.
And Santander is getting involved by launching its lowest ever two-year fixed-rate. Available at just 1.59% for buyers with 40% deposit. It comes with a fee of £1,945.
Finally, there’s a new arrival on the B2L and residential scene. Pepper UK is a non-bank lender and it’s offering mortgages for people who haven’t been successful in securing standard mortgages from mainstream lenders.
There you have it. Plenty of choice out there in a very competitive market. Give us a call if you need some advice.