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The mortgage market continues to trundle on despite the remarkable scenes in Westminster over the past few days. As Laura Keunssberg remarked in her excellent documentary The Brexit Storm, “it’s like a pantomime without any jokes”.

The resilience of the British public however is becoming more evident as more industry commentators are starting to report that there is an increase in the numbers of people now looking once more to buy or move. I have said before that life goes on regardless and with many now sensing a buying opportunity, especially as rates remain low, we may see a busier Easter period than some predicted.

As ever it is important not to be dragged down into the negativity that surrounds are so-called “leaders”. The housing market and those of us that work in and around it have a responsibility to keep positive and educate our applicants and clients accordingly.

It was interesting to see a new term pop into the economy recently as the “Flat White” Sector, (Millennials of digital and creative business’s) start to overtake more traditional industry’s as a large driver of economic output. The world continues to adapt and change, as must we.

Rate wise, the uncertainty has seen the cost of funds drop further, with SWAP rates falling pretty dramatically. It will be interesting to see if this results in even lower product offerings from lenders in the next few weeks.

At present however, lenders have kept their rates pretty much the same. For standard residential mortgages, borrowers can obtain 2-year fixes at 1.43%, (3.82% APRC) and 5-year fixes from 1.81%, (3.35% APRC) whilst variable tracker rates are around from 1.38%, (3.80% APRC).

Those looking at Buy-To-Let can still obtain products from just 1.46%, (5.30% APRC) for a 2-year tracker or 5-year fixes are available from 2.04% (4.40% APRC).

Our Best Buy Recommendations (with good current service)

Residential 2 Year Fixed
Lender: Halifax
Initial Rate: 1.43%
Until: 30/06/2021
Subsequent Rate: 4.24%
Overall Cost Comparison: 3.82%

Residential Long Term Fixed
Lender: Halifax
Initial Rate: 1.81%
Until: 30/06/2024
Subsequent Rate: 4.24%
Overall Cost Comparison: 3.35%

Residential Variable
Lender: Halifax
Initial Rate: 1.38%
Until: 30/06/2021
Subsequent Rate: 4.24%
Overall Cost Comparison: 3.80%

Lender: Leeds Building Society 
Initial Rate: 1.46%
Until: 30/06/2021
Subsequent Rate: 5.99%
Overall Cost Comparison: 5.30% 

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