30th May 2023

Mortgage choice falls as deals are pulled from sale-Moneyfacts

Borrowers comparing mortgage options may notice lenders have pulled deals from sale. The latest analysis from Moneyfactscompare.co.uk reveals the reduction in product choice across both the residential and buy-to-let sector and the impact on average mortgage rates:

-Within the residential mortgage sector: Bank of Ireland UK, Bath Building Society, Furness Building Society, Newcastle Building Society, Halifax, Hinckley & Rugby Building Society, Hodge, Kensington, LendInvest, Marsden Building Society, MPowered Mortgages, Principality Building Society, Scottish Building Society and Vernon Building Society pulled selected fixed mortgage products over the past few days. Aldermore, Foundation Home Loans and Tipton & Coseley Building Society have pulled their entire fixed rate range.
-Since the start of last week, the number of mortgages has fallen from 5,385 deals to 5,012.
-The average rate on a two-and five-year fixed mortgage has risen to 5.38% and 5.05% respectively since the start of May 2023.

Moneyfacts Trends(206 articles)