mortgage rates

Busy mortgage market offers buyers great rates

House buyers can benefit from some of the lowest fixed rate mortgages ever launched with experts reporting a busy marketplace and plenty of choice coupled with incredibly low rates.

Adam Champion from the New Homes Group says a new mortgage just released offers a two year fixed rate at 0.99 per cent.

“We’re currently seeing some tremendous rates for buyers and this is one of the lowest rates ever launched,” said Adam. “It shows real confidence in the market and should encourage people to make a move this year.”

 

Busy housing market

He said the new rate comes at a time when there has been plenty of activity in the  marketplace.

“In the last two years there have been more than 5,000 new mortgage products launched,” said Adam. “This represents an increase of more than 100 per cent in products available to those moving or remortgaging their current home.

“This means that we can offer buyers some great options and accommodate the needs of different buyers and their mortgage requirements,” added Adam.

Sara Parker from five star housebuilder Barratt Homes says the rates combined with the availability of Help to Buy is providing a great foundation for buyers in the south west.

 

Rates boost affordability 

“Help to Buy has proved extremely valuable to so many homebuyers and with these great rates we believe that now is a great time for people to make that move or buy their first home,” she said.

Help to Buy allows any homebuyer to secure a brand new home under the value of £600,000 with just a five per cent deposit. The government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage. Available to all homebuyers, not just first timers, the scheme helps anyone looking for a boost up the property ladder.