"Our longer term analysis shows that the majority of borrowers can still benefit from a number of savings compared to this time last year."
The cost of a 90% LTV two-year fixed rate is now 5% higher than it was at the beginning of January. With a current rate of 2.36% (as of 1st April 2019), the cost increase equates to an annualised increase of £342 on a £150,000 mortgage.
A 90% LTV two-year tracker and a 90% five-year fix now cost 1% more than they did at the beginning of the year, while the cost of an 80% LTV three-year fix, two-year fix and two-year tracker have all increased by up to 0.5%.
Conversely, two and five-year fixed rates at 60% LTV have seen a 1% reduction in costs since January.
Mortgage Brain’s longer-term analysis also shows a number of slight cost reductions for both high and low LTV products when compared to this time last year.
With a current rate of 2.06%, a 60% LTV two-year fix is 3% cheaper than it was in April 2018, while 90% two and five-year fixes are both 2% cheaper than they were 12 months ago.
Mark Lofthouse, CEO of Mortgage Brain, commented: “While those with small deposits are faced with a number of cost increases compared to the beginning of the year, our longer term analysis shows that the majority of borrowers can still benefit from a number of savings compared to this time last year.”
