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International Business Times UK
International Business Times UK
Business
Pragati Singh

Decline in UK Mortgage Rates Spurs Optimism for Homebuyers and Remortgagors

Sarah Coles Moneyfacts Bank of England Hargreaves Lansdown Nationwide Building Society Santander United Kingdom
Average cost of a five-year fixed-rate mortgage has also seen a downward trajectory, currently standing at 5.6% (Credit: Reuters)

The average cost of a two-year fixed-rate mortgage in the UK has fallen below 6 per cent for the first time in almost six months, figures showed on Friday.

In news that will be welcome to homebuyers and remortgage buyers, data from Moneyfacts showed that the cost of borrowing is still falling from the peaks reached in the summer.

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