Average interest rate for fised deals at moment?

fimonkey

Hi All (MA's specifically)

Just wondering what the average interest rate for a FTB fixed rate 125K mortgage with a 25K deposit is likely to be? Who's the best buy at the moment? (Taking into account set up fees etc).

Also, any companies offer IO but allow overpayment of the balance up to 10% per year?

Thanks

Leon_W

I would say around the 5.7% mark would be fairly competitive for a two year fix without high arrangement fees (anything under £1000). Most companies would offer 10% overpayment without penalty.

Regards

Perspective

Firemonkey, you should always work out the costs between the lowest rates and the highest rates taking into account the arrangement fees. For example C&G offer a very good fixed rate for 2 years at the moment but their arrangement fee is 2.5%. Its a bit confusing out there at the moment, Simon

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