News & Insights - Fixed rate

Interest rates were held at 0.1% this month, despite inflation in August recording it’s biggest increase since records began in 1997.

Although the Bank doesn’t want to stifle economic recovery following the pandemic, if inflation doesn’t start to fall back, there’s a chance that rates could rise in the not-too-distant future.

Recent weeks have seen the launch of several headline-grabbing two-year fixed rate deals below 1%, but the gap between five and two-year fixes has been narrowing.

The Bank of England held interest rates once again in May, but what does mean for your mortgage?

Nationwide has launched mortgages which enable first time buyers to borrow more than five times their income when locking into a long-term fixed rate.

Homeowners coming to the end of their current mortage deal are being urged to explore their options

The Bank of England’s Monetary Policy Committee voted to leave the base rate unchanged at 0.1% in March, and suggests the UK economy could recover sooner than expected

What are the benefits and drawbacks of taking a long-term fixed rate mortgage? Read our blog to find out more

Homebuyers and those looking to remortgage who want the security of a fixed rate deal may want to act sooner rather than later, as rates have started to tick up in recent weeks.

The Bank of England has held the base rate at 0.1% in June, despite speculation that rates could fall into negative territory to help shore up the economy.

After re-introducing many of their deals for homebuyers with small deposits after lockdown rules eased, several lenders this week pulled their first-time buyer mortgages again temporarily.

Several lenders have recently reduced their mortgage rates, benefiting homeowners looking to remortgage so they can reduce their monthly outgoings.

The Bank of England is reviewing whether to cut interest rates to less than zero to help stimulate an economic recovery, but has said it won’t act until it has fully assessed the impact of doing so.

The Bank of England slashed the base rate by half a percentage point to just 0.25% on Wednesday to help shore up the economy during the coronavirus outbreak.

The Bank of England voted by 7-2 to hold interest rates at 0.75% again this month, the same as in the previous meeting.

Homebuyers with only a 5% deposit to put down now have a wider choice of mortgage options to choose from following the launch of a new range of fixed rate mortgages.

The Bank of England’s Monetary Policy Committee voted to keep interest rates at 0.75% again in November, although two of the nine members voted in favour of a cut.

Sainsbury’s Bank has become the latest lender to exit the mortgage market, just six months after Tesco announced that it was pulling out of mortgages.

The share of mortgages advanced to those with deposits of less than 10% of the property value has reached its highest level since 2008, according to the Bank of England.

The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to leave the base rate unchanged this month, at its last meeting before the UK is due to leave the European Union.

Homebuyers and owners wanting the security of a long-term fixed rate mortgage now have a much wider range of options to choose from following the launch of several new 15-year deals.

Over half of homeowners never overpay on their mortgage, even though doing so could potentially save them thousands in interest and reduce their mortgage term.

As economic uncertainty continues lenders are competing to offer the cheapest fixed rate mortgages, and recent figures show a drop in average fixed rates since the referendum of 2016.

First-time buyer and homemover mortgage numbers dropped slightly in June, with many people putting their plans on hold due to current political and economic uncertainty.

The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to keep the base rate at 0.75% earlier this month amid ongoing Brexit uncertainty.