London and Country

Rates on two-year fixed mortgage deals have dipped below 5% for the first time in five months. But brokers believe fixed deals could get even cheaper as the year draws to a close – so should you fix now or hold out?

Interest rates on fixed mortgage deals have been edging down over the past few weeks with some five and 10-year fixes now below 5%. Mortgage brokers have told MoneySavingExpert.com that further cuts are possible in the short term after the base rate was held at 5.25% this month, following 14 consecutive rises.

The cost of a new mortgage is already showing signs of edging up, despite the Bank of England base rate remaining unchanged at 0.5%.

Anyone looking to get a mortgage will have to have their finances scrutinised more closely from tomorrow under new rules , meaning some may find it harder to get a mortgage.

If you've got a mortgage where interest is calculated once a year, you could save hundreds of pounds by overpaying in the next few weeks.

If you're looking for a mortgage, we've seen the first signs of rate rises in recent months.

Mortgage rates have hit a new low for those with a large deposit, but some of the eye-catching deals come with huge fees for borrowers to beware of.

Borrowers with mortgages where the interest is calculated once a year could save hundreds of pounds by overpaying in the next few weeks.

Borrowers wanting to fix their mortgage for five years can now grab the lowest-ever rate, if they have a large deposit.