What are current UK mortgage rates?
Fixed-rate mortgages
| Mortgage | Initial interest rate | Followed by a Variable Rate, currently |
|---|---|---|
| 3 Year Fixed Standard | 2.54% fixed | 4.04% |
| 5 Year Fixed Fee Saver | 2.89% fixed | 4.04% |
| 5 Year Fixed Standard | 2.54% fixed | 4.04% |
| 5 Year Fixed Premier Standard | 2.51% fixed | 4.04% |
Can I negotiate a lower rate on my mortgage?
Most homebuyers start their house hunt expecting to negotiate with sellers, but there’s another question many never stop to ask: “Can you negotiate mortgage rates with lenders?” The answer is yes — buyers can negotiate better mortgage rates and other fees with banks and mortgage lenders.
Is now a good time to fix my mortgage?
In theory, although the very best deals are becoming rarer, now is still a good time to fix your mortgage rate. The consensus among mortgage advisers that I speak to is that mortgage rates are still very attractive and now is a good time to remortgage and fix your rate.
Is it worth getting a 10-year fixed mortgage?
Your interest rates will be higher on a 10-year fix than a shorter-term deal, pushing up your monthly repayments: the lowest rate for a 10-year fix (60% LTV) is 2.49%, while for a 2-year fix (60% LTV) it’s 1.35%. You could pay a penalty if you move house.
Is 2.4 a good interest rate?
From 2017 through 2020, the average ranged from as low as 4.42% to 5.5%. If your interest is around those averages or lower, then it’s probably a good rate.
Do banks negotiate mortgage rates?
Yes. You can and should negotiate mortgage rates when you’re getting a home loan. Research confirms that those who get multiple quotes get lower rates. But surprisingly, many home buyers and refinancers skip negotiations and go with the first lender they talk to.