Building Society Scarborough have jumped on the fixed rate bandwagon and released new mortgage deals to tempt people whose current agreements are nearly up.
There are two and three year fixed packages available with a rate of 5.59 per cent and an arrangement fee of around £895. The five year product comes with a slightly higher rate of 5.64% but a lower arrangement fee of £795.
For the best rates, you can get seven or ten year fixed mortgage deals with 5.54% interest payable and fees of either £695 or £595 depending on which length you opt for.
The group are also keen to push the merits of their tracker deals as they expect these to be popular with interest rates expected to drop throughout the year.
Ella Bowles, product manager for Scarborough commented, "Record numbers of people are due to come off fixed rate mortgage deals this year, and will belooking to balance their budgets."
She added, "We felt it was important to provide them with cost effective alternative products."