UK mortgage rate gap narrows, making two-year terms nearly as competitive as five-year ones.

The gap between two-year and five-year fixed mortgage rates in the UK has narrowed to its smallest level in two years, making shorter-term mortgages more competitive. The average two-year rate is now 5.48%, while the five-year rate stands at 5.25%, a difference of just 23 basis points. Although the five-year rate remains lower, the reduced gap could attract borrowers to shorter-term mortgages.

2 months ago
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