UK MORTGAGE DEALS: HOW TO NAVIGATE THE ROLLERCOASTER RATES RIDE – THE GUARDIAN

Amid a debate about what is happening to the housing market, what are your options?

We are in the grip of a mortgage price war, according to some experts – but it probably won’t feel like that if you are staring down the barrel of much higher monthly payments.

It is certainly fair to say that rates on new mortgages have been on a rollercoaster ride in recent months. Last September’s disastrous mini-budget helped push the price of many new fixed home loan deals above 6%.

Since then, lenders have been gradually reducing the cost of their new fixed rates, and the cheapest new five-year deals (from, for instance, HSBC, First Direct, Virgin Money and Yorkshire building society) are now priced at below 4%. The availability of deals has also improved.

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