Professionals ‘well placed for a good deal’
Statistics published by Moneyfacts.co.uk have suggested that high earning Brits are in the best position to get good mortgage deals on the market.
The price comparison website noted that customers need to provide at least a 25 per cent discount to take advantage of tracker products following the Bank of England's recent cuts in interest rates.
Michelle Slade, analyst at Moneyfacts.co.uk, commented that lenders are bringing a small selection of tracker deals back to the market for less risky customers.
On fixed rates, she said rate cuts are not filtering through and said such products remain out of the limelight.
Ms Slade said that other residential mortgages have left banks at a crossroads between cutting lending rates and retaining their commitment to savers.
She added: "Lenders are continuing to require a bigger deposit than ever before to get their best deal, with 95 per cent deals virtually disappearing and 90 per cent deals not far behind."
Abbey today revealed its new three-year fixed-rate mortgages portfolio, offering rates from 4.99 per cent.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
The price comparison website noted that customers need to provide at least a 25 per cent discount to take advantage of tracker products following the Bank of England's recent cuts in interest rates.
Michelle Slade, analyst at Moneyfacts.co.uk, commented that lenders are bringing a small selection of tracker deals back to the market for less risky customers.
On fixed rates, she said rate cuts are not filtering through and said such products remain out of the limelight.
Ms Slade said that other residential mortgages have left banks at a crossroads between cutting lending rates and retaining their commitment to savers.
She added: "Lenders are continuing to require a bigger deposit than ever before to get their best deal, with 95 per cent deals virtually disappearing and 90 per cent deals not far behind."
Abbey today revealed its new three-year fixed-rate mortgages portfolio, offering rates from 4.99 per cent.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
