L&C comments on mortgage deals that “buck the trend”

Mortgage broker London & Country (L&C) has noted the fact that two fixed-rate mortgages have been launched this week which "buck the trend" of rising rates.

Stroud & Swindon launched a two-year fixed-rate deal at 4.69 per cent, with a fee of £898.

This offer is available at up to 90 per cent loan-to-value (LTV) and offers free basic valuation and free legal work for remortgages.

Portman also launched a two-year product with a rate of 4.68 and a fee of £999. This can be taken out at up to 75 per cent LTV to a maximum loan amount of £250,000.

James Cotton, mortgage specialist at L&C said: "After a period of rising fixed rates and with the base rate currently at five per cent, these new deals represent great value.

"Both arrangement fees may seem high, but for larger loans, the rates should more than compensate."

Mr Cotton stressed that these products do not necessarily suggest that all fixed rates are set to drop, as inflationary pressures are likely to keep other lenders’ rates up.