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Saturday, July 28, 2012

Variable rates still in favour

Since the beginning of the year, the buy-to-let mortgage market has improved with more lenders and products now available. This has led to greater competition between providers, together with persisting low interest rates, resulting in relatively stable product pricing overall. In Q2 2012 the average variable rate was 4.10% compared with 4.07% in the previous quarter.

However, the average fixed rate for offers processed by Property Hawk Mortgages in Q2 2012 did increase more noticeably to 5.06% up from 4.82% in Q1 (the highest since the beginning of 2010), although this may reflect the wider availability of higher loan-to-value  fixed rates which tend to be priced higher.  It will be interesting to see how average fixed rate pricing varies during the second half of the year

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IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice. Please check our website regularly to see the most up-to-date products available.
Your home may be repossessed if you do not keep up repayments on your mortgages.The Financial Services Authority does not regulate some forms of mortgage.

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