Lenders reduce rates as low as 0.84% for home movers and remortgage buyers with the most equity with more competition.
The number of mortgage deals offering 1% interest or less has increased as lenders compete for new and existing borrowers.
Fixed rate mortgages are cut to 0.99% for borrowers with large deposits looking to remortgage as competition increases from lenders.
The number of 10% deposit mortgage deals almost double as lenders offer first time buyers more choice to get on the property ladder.
HSBC has cut rates to 1.14% on higher loan to values benefiting existing homeowners looking to move or remortgage.
With an uncertain mortgage market Nationwide has removed their high loan to value mortgage deals for new buyers, tripling deposits.
Two and five year fixed mortgage rates have reduced to historic lows giving you the chance to save money by switching to a preferential rate.
Interest rates for equity release products drop to record lows as uncertainty continues over the Coronavirus economic impact.
The cost of fixed rate mortgages for borrowers has reduced but Coronavirus fears have seen lenders withdraw many products.
Fixed rate mortgage rates are reducing and set to fall further to the benefit of buy-to-let investors with more competition in 2020.
Mortgage buyers continue to benefit from very low interest rates while savers are facing difficulty in finding a good level of interest.
More than half of residential mortgages have terms of up to 40 years lowering repayments but total interest costs are much higher.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
CONTACT
Address:
9th Floor, 30 Crown Place
London, EC2A 4EB
Phone:
0800 955 0058
Email:
info@londoncitymortgages.co.uk
London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.