July - August 2008

Whilst the Bank of England kept the base rate on hold at 5% in its July meeting, there has been some great news for borrowers.

Swap rates, which lenders use to fund their fixed rates, have plunged in the last month leading to lenders slashing their fixed rates.

Moneyfacts reported that the average 2-year fixed rate has dropped below 7%. The best buy 2-year fixed rate is now below 6.20%.

Lenders have also significantly cut their tracker rates, 2 lenders now offer best buy tracker rates below 5.7%. These cuts make mortgage borrowing significantly cheaper than a couple of months ago.

With all of these changes in the market there has never been a better time to seek professional mortgage advice from an expert.

To discuss your mortgage needs, please call us on +44 (0)20 7220 1000 or email mortgages@hamptons-int.com.