Mortgage rates decline for the second consecutive week

Interest rates have been in the news a lot recently, and we understand that many homebuyers are unsure of what the future holds. Today brings good news, however, as mortgage interest rates have now declined for the second consecutive week.

Over the last week, many fixed rate and tracker rate mortgages have reduced*, and they are likely to continue to do so.

Halifax’s two year fixed rate mortgage, for example, has come down from 6.31 per cent to 5.98 per cent, and its’ five year mortgage from 5.69 per cent to 5.41 per cent.

Similarly, Nationwide’s two year fixed rate mortgage has also reduced from 5.64 per cent to 5.39 per cent, with the five year option also declining from 5.24 per cent to 5.09 per cent.

The tracker mortgages from Nationwide have seen similar changes. The two year mortgage with a 75 per cent Loan-to-Value (LTV) was 3.74 per cent, at 0.74 per cent above the Bank of England’s base rate, and is now 3.64 per cent.

Samantha Hart, Sales and Marketing Director at Allison Homes Central Region, said: “This is brilliant news for homebuyers across the country, as it means they can look forward to getting themselves on the market and securing a respectable mortgage”.

“We work closely with our partner, independent financial advisor Evolve Financial Solutions to keep a close eye on the market, and are always on hand to help our customers find the mortgage deal that suits them best.”

For free mortgage advice, call Evolve on 01473 603 211 or visit

To find out more about our available homes, visit

*All mortgage rates and information correct at time of publishing, 01/12/2022.