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25-04-2023 | Author: Charlotte Driver

Interest rates on new fixed mortgage deals continue to drop

Our previous blog on the UK property market discussed mortgage rates, and since then, we’ve found that top lenders are still cutting interest rates on fixed mortgages despite the latest Bank of England base rate continuing to rise. This means good news for new home buyers. 

Interest rates on fixed mortgages and variable deals are currently conflicted and heading in opposite directions since the Bank of England raised the base rate to 4.25% in March – a move which means variable deals, such as trackers, have become even more expensive. Opting for a fixed-rate mortgage is now the perfect choice for homebuyers.

“Six months ago, the top fixed-rate mortgage deals were around double the cost of the top trackers. Yet things have moved in the opposite direction since then, with today's cheapest two-year fix at 4.08% and the top two-year tracker at 4.39%.” - Money Saving Expert

A number of big mortgage lenders, including Halifax, Santander, Barclays, HSBC, First Direct, TSB and NatWest, have significantly improved rates on their fixed deals over the past two weeks.

“Santander & Halifax have become the latest High Street lenders to cut fixed rate products across the board. Santander confirmed all new build rates and deals under 75% loan to value would reduce together with selected purchase and remortgage rates too. Santander’s lowest on-sale product will be a 5-year fixed rate at 3.94% for those with a 40% deposit or more, with Halifax also competitive at 3.98%”. – New Homes Mortgage Helpline




Find your new home in the South East of England

As Buckinghamshire property developers, we understand that buying a new home is one of the most expensive purchases you are likely to ever make. 

We know that as well as purchasing a new home, you want to ensure that you are making the best investment for your future, and buying your new home with a mortgage product that works for you personally as well as offers the most competitive rates.

We can introduce you to a recommended independent financial advisor who will be able to provide you with the best advice as they are constantly updated in not only the best mortgage rates and products available but are often able to provide you with special rates from major lenders that are not available to the public.

Our current developments offer a range of new homes in CamberleyCranleigh, and Windsor. We also have new homes coming soon to Ottershaw and Ascot. Explore all our new build developments below.  

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