The cost of borrowing remains historically low

5th May 2021

The cost of borrowing remains historically low, with the average mortgage rate just 2.09%. This rate remains unchanged since the start of 2021, with gross mortgage lending in March hitting its highest ever monthly total at £35.6 billion.

Mortgage approvals remain over 20% higher than the long-term, as interest in moving home continues. The UK base rate has now remained at 0.1% for over a year. With inflation remaining significantly below target and the economy still in recovery there is little evidence this will change imminently.

To find out more, contact the Mortgage Hub on 03454 500 200, or visit www.chartersfinancialservices.co.uk.

Previous Mortgage Rates

2000      7.12%

2005      5.52%

2010      3.66%

2015      3.14%

2020      2.33%

2021      2.09%

 

 

 

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Buying our first house was extremely stressful as you can imagine, Chawley really made our mortgage journey extremely smooth and I will always be grateful for that! He was extremely professional and held our hand through the process, it was all very new to me but Chawley explained all the steps and insured I understood. I will 100% be recommending him in the further, great guy!

Kloe C

April 2020

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