Now that the Bank of England’s interest base rate is deemed to be at or very close to rock bottom, mortgage lenders seem to be recovering confidence in the market and the five year fixed rate mortgage has returned.  There are several good offers on the market now for those with large deposits and even those with smaller deposits have a few options open to them.

For example, for those with a 40 per cent deposit, the Abbey is offering five years fixed at 3.95 per cent with a fee of £995 and the HSBC is also offering them a 3.99 per cent deal with a £999 fee.

For those with a 25 per cent deposit or a 10 per cent deposit, the Post Office has a five year fixed rate mortgage offer of 4.15 per cent and 6.01 per cent respectively.  Each deal has a £599 fee.

As we discussed recently, there are still two year fixes available for those who do not wish to tie in for a five year period, such as the 2.89 per cent deal from HSBC for those with a 40 per cent deposit although it does come with a £1,499 arrangement fee.

It is good to see some decent fixed rate mortgages coming back onto the market, making the mortgage advisor’s job a lot easier.

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