Mortgages are your biggest outgoing if you are a homeowner, so if you have any Brexit-anxiety, it is probably about what any impact will be on your borrowing costs.
If you are on a lender’s Standard Variable Rate or approaching your re-mortgage date, you might be keener than usual to find a deal that will see you through uncertain times.
Typically, that means more people wanting to fix their interest rate.
The good news is that lenders have not been pulling up their drawbridges. If anything, they want your business even more now.
And because the money markets are pricing in a rate cut to protect the economy before any rises take place to curb expected inflation, deals remain competitive.
Aaron Strutt, of Trinity Financial, our Good With Money mortgage expert, says: “Over the last few days some of the lenders have improved their rates to tempt more borrowers to take action. Coventry launched a five-year fix at 2.09% and Santander improved some rates by 0.2%.”
“Mortgage lenders have stressed it is business as usual and at the moment nothing has changed. The lenders still have incredibly low rates and acceptance criteria is better than it has been for years. There is a good chance rates will get even cheaper if the Bank of England is forced to cut the base rate again and this makes tracker deals more attractive.”
Here are Aaron’s pick of the deals. If you see a , it means this provider rates well for its impact, as well as the deal.
HSBC – 0.99% two-year fix – 35% deposit – £1,499 fee