- 29 March 2021
- Posted by: mikey0809
- Categories: Mortgage, Property
The average 10 year fixed rate was the only deal with the biggest change this week, despite plenty of action within separate LTV brackets, rising from 2.89% to 2.92%.
The average two-year fix remained at 2.57%, the average three-year fix at 2.67%, and the average five-year fix at 2.75%.
The new introduction of the 95% LTV mortgages from some lenders the last week caused some category’s average rate jumping from 3.99% to 4.72%.
The average 90% LTV rate dropped from 3.50% to 3.47% and, at the other end of things, the average rate at 50% LTV fell 3 basis points too – ending the week at 2.07%.
The average 95% LTV rate increased with a huge jump – by 100%, in fact – from 0 to 3.99%.
The only other change here was at 85% LTV, which saw its average rate fall 1 basis point to 2.93%.
The average rate at 95% LTV grew 39 basis points, going from 3.86% to 4.25%.
The next-biggest change was seen at 50% LTV, where the average rate increased from 2.49% to 2.53%.
Despite the average rate across all LTVs rising, there was no major enough change to register at 2 decimal places at any individual LTV bracket this week.
“Another busy week in the residential mortgage sector, with a variety of updates coming through.
“A number of providers moved to reduce selected fixed rates, including Coventry Building Society with cuts of up to 0.20 per cent, and Virgin Money with reductions of up to 0.16 per cent.
“Leeds Building Society made a number of changes, including balancing a couple of rate reductions of up to 0.06 per cent, with rate increases of up to 0.30 per cent.
“Aldermore made some notable updates, reducing a handful of high LTV products by up to 0.40 per cent while also returning 95 per cent LTV purchase deals to its range, joining the ranks of those coming back to market to cater for borrowers with low levels of deposit.
“While changes are being made with such regularity, those who are considering a new mortgage deal might do well to secure the support and up to date knowledge of an independent advisor to keep abreast of all their options.” say Moneyfacts finance expert Eleanor Williams.