Buyers face fewer deals and higher rates

Analysis by Moneyfacts shows that there are now just 56 fixed and variable rate mortgages at 90% available, down from 779 in March. The report also reveals that the average two-year fixed rate 90% mortgage now charges an interest rate of 3.76%, up from the 2.57% available before the first coronavirus lockdown was put in place in March. While buyers with smaller deposits face a market with fewer deals and higher rates, homeowners able to remortgage or buy with 40% equity or deposit are being offered lower rates than they were before the pandemic.

Daily Mail (13/11/2020)