The availability of mortgages continued to ease in the past month, according to figures from the financial information service Moneyfacts.
"Even though there is a slight reduction in availability of mortgages, it is encouraging that the average rates are still on the decline," said Darren Cook of Moneyfacts.
Figures from Moneyfacts show that:
• The interest rate on the average two-year fixed-rate mortgage fell from 4.74% in March to 4.72% in April
• The average five-year fixed-rate deal dropped from 5.92% in March to 5.87% in April
• The average two-year tracker-rate went down from 3.65% in March to 3.58% in April.
The percentage of deals requiring at least a 25% down payment also dropped again, from 57% a month ago to 56% at the beginning of April.
For more information on Mortgages contact any local branch of Besley Hill or visit www.besleyhill.co.uk for loads of online information about mortages repayment calculators and much more.
Source: BBC News 24 - 09.04.10
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