People looking to find a cheap mortgage deal may be interested to know that several mortgage lenders are now reducing interest on their fixed-rate offerings.
According to financing website Moneyfacts.co.uk, the last ten days have seen a total of eight mortgage lenders cut repayments on their fixed-rate mortgages.
Reductions vary from 0.1 per cent by mortgage intermediary Freedom Lending to 0.4 per cent by financial services provider Britannia Building Society.
Denise Blake, mortgage analyst at the financing website, suggested the downward trend may be linked to a more settled economic climate after the recent spate of interest rate hikes.
"Following the shock base rate rise in January, fixed-rate mortgages flew off the shelves," she explained.
"But with [the] base rate remaining unchanged now for the last two months, some level of stability has returned."
Interest rates have risen by a total of 0.75 per cent since August 2006.
Many financing analysts have predicted that the Bank of England will opt to raise the base rate by a further quarter of a percentage point later this year in order to curb inflationary pressures.
Mortgage lenders dropping fixed-rate deals, financing study shows
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Mortgage lenders dropping fixed-rate deals, financing study shows
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