Lenders have continued to cut rates across their product ranges since the Brexit vote of the EU Referendum, with lenders continuing to offer borrowers the necessary support and security of robust lending, despite some fears of greater uncertainty on the future of a stable financial market. We’ve taken a look at the best fixed rate mortgages currently available, so you can take advantage of some of the cheapest deals – before they disappear.
Metro Bank, for example, has now cut rates on its 5 year fixed rate residential and buy to let mortgages, in a bid to equally soften the blow of the April 2017 tax changes for landlords. For residential mortgages under £1.5 million, rates now start from 2.09% at 60% loan to value (LTV) or 2.59% at 80% LTV.
Buy to let rates are also now available with a rate of 3.19% at 65% LTV or 3.29% at 75% LTV.
Barclays is another lender to have announced numerous mortgage rate changes this week, with cuts applied to its 2, 3, 5 and 10 year fixed rate, low loan to value range. Highlights include a 2 year fixed rate at 1.35% up to 60% LTV and a 5 year fixed now with a rate of 2.14% at 60% LTV for remortgages only.
The lender has also introduced a selection of new and reduced Rate Switch products, allowing Barclays Mortgage customers to benefit from the lowest rates on offer.
Elsewhere, Norwich & Peterborough Building Society (N&P) has launched a trio of the lowest 3 year fixed rate mortgages currently available at 65%, 75% and 85% LTV.
N&P is now offering those with a 35% deposit a 3 year fixed rate mortgage at 1.73%, or a 1.92% 3 year fixed rate at 75% LTV and 2.08% for 3 year fixed rates at 85% LTV. All of these products are currently available to those buying a home or remortgaging, and come with a £1,475 product fee.
3 year fixed rates have proved especially popular more recently, as they provide greater security during a more uncertain time, yet equally come with extremely competitive rates.