Moneyfacts is an independent financial research company that provides detailed analysis of the UK’s financial products. Recently, Moneyfacts conducted an analysis of lender rate changes in the UK, which revealed some interesting trends.
The analysis showed that the average rate for a two-year fixed mortgage had dropped by 0.21% since the start of the year. This is the biggest drop in two-year fixed mortgage rates since Moneyfacts began tracking them in 1999. The average rate for a five-year fixed mortgage also dropped by 0.14% over the same period.
The analysis also revealed that the average rate for a two-year tracker mortgage had increased by 0.12% since the start of the year. This is the first time that tracker mortgage rates have increased since Moneyfacts began tracking them in 2004.
The analysis also showed that the average rate for a two-year variable mortgage had increased by 0.11% since the start of the year. This is the first time that variable mortgage rates have increased since Moneyfacts began tracking them in 2005.
The analysis also revealed that the average rate for a five-year variable mortgage had decreased by 0.08% since the start of the year. This is the first time that five-year variable mortgage rates have decreased since Moneyfacts began tracking them in 2007.
Overall, the Moneyfacts analysis of lender rate changes in the UK revealed some interesting trends. The average rate for two-year fixed mortgages had dropped significantly, while the average rate for two-year tracker and variable mortgages had increased slightly. The average rate for five-year variable mortgages had also decreased slightly. These changes could have a significant impact on borrowers’ decisions when it comes to choosing a mortgage product.