The cost of mortgages has fallen so far in 2018 despite the potential for a Bank base rate rise in the coming months, Mortgage Brain’s product data analysis shows.
Typical 2-year trackers at 80% and 90% loan-to-value now cost 3% less than in January, while at 70% LTV they are 2% lower and at 60% they are 1% lower.
Mark Lofthouse, chief executive of Mortgage Brain, said: “Having seen month-on-month increases during the last quarter of 2017, it’s all change once again with the cost of most mainstream mortgages falling over the past three months.
“We are seeing a number of lenders starting to increase their rates ahead of the likely base rate rise next month, however, so it could well be back to reporting on a wave of cost increases at the end of June.”
The cost of 2-year fixes at 90% LTV, as well as 3-year fixes at 60% LTV, both fell by 2%.
However 60% LTV 2-year fixes increased by 2% since the start of the year, and up 6% compared to October 2017.