Manchester Property News
Lenders slash mortgage rates
Many big mortgage lenders are in fierce competition and slashing rates. The average five-year fix is now 5.55%, down from its peak of 6.37% in August, while the two-year stands at 5.93%, down from 6.86% in July.
Santander and HSBC are the latest to join the sub 4% club for a five-year fix, whilst Barclays have unveiled two-year deals within touching distance of the 4% threshold.
Product choice rose for the sixth month in a row, reaching 5,899 options, a 15-year high. The average shelf life of a product has lengthened to 21 days, the highest level since June, indicating increasing stability in the market.
Forecasters at three leading institutions suggest the inflation rate will halve to 2% by April, potentially meaning the Bank of England could bring forward the date of its first interest rate cut. Source: #Dataloft, Moneyfacts, Oxford Economics, Investec, Deutsche Bank, Santander, HSBC and Barclays, subject to conditions, fees and loan-to-value
Leave a comment
About The Blog
This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area.
Tom Simper - Editor
Manchester is one of the fastest growing markets in the country. If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience and local knowledge to help.
T: 0161 441 0563
E: [email protected]