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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Fantastic service, brilliant estate agents Charters have exceeded our expectations. Everyone at the office in Alton is extremely knowledgeable, helpful and proactive. We have been well looked after and kept up to date at every stage. I know that a lot of hard work must be going on behind the scenes but from our point of view the process of selling our house has been smooth and stress free. Viewings were lined up before our house was on the market and then it was sold within a few days of being online. What more could you ask for! I would highly recommend Charters to anyone wanting to sell their house without the added stress that you would expect from selling.

Mr & Mrs Woods

March 2020

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