LONDON (MNI) – The Bank of England Funding for Lending Scheme,
designed to boost credit flow, kicked in at the start of August but the
central bank’s own data show a range of mortgage rates nudged up on the
month.
Two- and three-year fixed rate mortgages rose in August compared
to July along with discounted rate mortgages.
Sterling two-year fixed rate mortgages at 90% loan-to-value
averaged 5.91% in August compared to 5.83% in July in the BOE’s Quoted
Rates data series while those at 75% LTV rose to 3.69% from 3.67%.
The average 3-year fixed rate was 4% for 75% LTV, up from 3.97% in
July although it fell to 4.13% for 5-year fixed from 4.18%.
Discounted sterling 2-year at 75% LTV rose to 3.54% in August from
3.51% in July and standard variable rate rose to 4.26% from 4.24%.
–London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$$BE$]
