There was only one mortgage story on the lips of the financial press this weekend, and that was the 5-year fixed rate ‘mortgage war’.
Interest rates on longer term fixed mortgages have been falling steadily over the past few months, as lenders fought to attract more business, amid a climate of economic uncertainty. The competition has ramped up within the last couple of weeks however, with new banks emerging, and old ones returning to the market.
As a result we are once again seeing the launch of more ultra-low rates, but experts are urging borrowers to act quickly, as these deals are not expected to around for very long.
What the papers said about the 5 year fixed rate mortgage war