The average rates for most fixed rate mortgages increased again this week. (Week Commencing 28/02/2022) with a record number of mortgage interest rate increases.

So if your current mortgage deal is due to expire in 2022, by talking to the mortgage brokers at Broadland Consultants now you can get ahead of potential changes and work with our expert mortgage advice team to secure a new rate up to 6 months in advance of your current mortgage deal expiring. 

And, if you’re based in Norwich or Norfolk our expert Mortgage Adviser team can meet face to face too (Telephone and Video call meetings also available)

A snapshot summary of the mortgage market latest research is below:

• Average Two-year fixed Rate Mortgage Deals

At 90% LTV, the average rate gained 7 basis points, ending at 2.81% on Friday, while the average rate at 85% LTV moved up by 8 basis points, to 2.75%.

And at 60% LTV, the average rate increased by 13 basis points, to 2.15%.

Meanwhile, at 65% LTV, the average rate dropped by 19 basis points, to 2.80%.

• Average Three-year fixed Rate Mortgage Deals

The most significant change within this fix occurred at 60% LTV, where the average rate fell by 15 basis points, to 2.58%.

And despite the average rate at most LTV points gaining, at 90% LTV the average rate lost a single basis point, coming to 2.82% and, at 80% LTV, a 2 basis point drop saw the average rate move to 2.56%.

• Average Five-year fixed Rate Mortgage Deals

At 60% LTV, the average rate rose by 6 basis points, to 2.29%, while at 70% LTV, a 5 basis point move upwards left the average rate at 2.95%.

There were two movements in the opposite direction – at 95% LTV, the average rate dipped by 2 basis points, to 3.38%, and at 65% LTV, a 21 basis point fall saw its average rate move from 3.22% to 3.01%.

• Average Ten-Year Fixed Rate Mortgage Deals

Here, the biggest change took place at 60% LTV, where the average rate increased from 2.33% to 2.38%.

Our expert mortgage advice team are here to help you, and because they search the whole of the UK mortgage market they can help you save time and money too.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE