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The Independent UK
The Independent UK
Business
Vicky Shaw

Average five-year fixed mortgages now cheaper than two-year deals

Moneyfacts Office for National Statistics Inflation the Middle East

Homeowners are grappling with what a financial information website has termed "pricing turmoil", as rates on some short-term fixed-rate mortgages have now surpassed their longer-term counterparts.

Moneyfacts reported that the average two-year fixed residential mortgage rate climbed to 5.56 per cent on Wednesday morning, an increase from 5.51 per cent on Tuesday.

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