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Mortgage costs fall, comment south west estate agents

Properties for sale in the south west are now within easier reach of buyers looking to purchase a property using a mortgage. Figures from late January to early February 2015 charted a fall of £1,700 in mortgages costs over a four week period as a rate war breaks out between banks. Mortgages rates and fees have been reducing steadily for some time but 2015 has got off to a great start for borrowers, with tumbling rates and reduced fees. Buyers using finance to purchase flats and houses for sale in the south west can chose from a raft of deals that make home moving more affordable. Fixed rate loans are some of the products to have seen a rate cut or an improvement in terms, with lender First Direct launching a fixed-rate product with a rate of 2.89% for ten years - a record low for such a long term period. Finance experts believe there are two major contributory factors that are keeping mortgage rates so low. Firstly, there is an increased appetite among banks to lend money to borrowers that pass their criteria. This means there are more lenders in the market than two years ago all vying for business by cutting rates to attract new customers. Secondly, the Bank of England has given indications in its voting notes that an interest rate rise is unlikely in the imminent future, with a hike thought by some to be pushed back to 2016. The current historic low of 0.5% interest rate has remained in place for 71 consecutive months and is unlikely to rise due to cheaper oil prices and falling inflation. Further good news for buyers of flats and houses for sale in the south west comes from mortgage brokers, who estimate that two-year fixed rates could dip below 1%, and five-year fixed rates fall below 2% in the near future, which would present buyers with fantastic opportunities to 'lock in' to affordable mortgage repayments. The positive sentiment in lending isn't just confined to owner-occupiers, however, as buy-to-let loans are also at affordable levels. Those looking at properties for sale in the south west with investment in mind now have access to over 800 buy-to-let loans, with 100 new products launched in just one 12 week period, claim specialist landlord broker Mortgages for Business. Improvements in the buy-to-let mortgage market include lending to landlords with smaller deposits; lending to investors looking at purchasing houses of multiple occupation and taking a landlord's personal income into account when assessing affordability. If you'd like help with the purchase or a house of flat for sale in the south west, please contact your local branch of Winkworth in the South West of England today.

Properties for sale in the south west are now within easier reach of buyers looking to purchase a property using a mortgage. Figures from late January to early February 2015 charted a fall of £1,700 in mortgages costs over a four week period as a rate war breaks out between banks.

Mortgages rates and fees have been reducing steadily for some time but 2015 has got off to a great start for borrowers, with tumbling rates and reduced fees. Buyers using finance to purchase flats and houses for sale in the south west can chose from a raft of deals that make home moving more affordable.

Fixed rate loans are some of the products to have seen a rate cut or an improvement in terms, with lender First Direct launching a fixed-rate product with a rate of 2.89% for ten years - a record low for such a long term period.

Finance experts believe there are two major contributory factors that are keeping mortgage rates so low. Firstly, there is an increased appetite among banks to lend money to borrowers that pass their criteria. This means there are more lenders in the market than two years ago all vying for business by cutting rates to attract new customers. Secondly, the Bank of England has given indications in its voting notes that an interest rate rise is unlikely in the imminent future, with a hike thought by some to be pushed back to 2016. The current historic low of 0.5% interest rate has remained in place for 71 consecutive months and is unlikely to rise due to cheaper oil prices and falling inflation.

Further good news for buyers of flats and houses for sale in the south west comes from mortgage brokers, who estimate that two-year fixed rates could dip below 1%, and five-year fixed rates fall below 2% in the near future, which would present buyers with fantastic opportunities to 'lock in' to affordable mortgage repayments.

The positive sentiment in lending isn't just confined to owner-occupiers, however, as buy-to-let loans are also at affordable levels. Those looking at properties for sale in the south west with investment in mind now have access to over 800 buy-to-let loans, with 100 new products launched in just one 12 week period, claim specialist landlord broker Mortgages for Business. Improvements in the buy-to-let mortgage market include lending to landlords with smaller deposits; lending to investors looking at purchasing houses of multiple occupation and taking a landlord's personal income into account when assessing affordability.

If you'd like help with the purchase or a house of flat for sale in the south west, please contact your local branch of Winkworth in the South West of England today.

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