Short-term fixed mortgage rates for borrowers with a minimum 25% equity in their properties last month hit the lowest level since records began in 1995, data from the Bank of England showed.
Despite this, the BoE found no evidence of increased borrowing nor of riskier lending.
The average rate charged for a two-year fixed mortgage for 75% of a property’s value dropped to 1.9%. Two-year variable rates are at 1.56%.
