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We offer mortgage rates at 1.09%, despite Bank of England rate increase

Wednesday 2 March, 2022

Although the Bank of England has raised base rates recently which has meant many mortgage lenders raised their mortgage rates, we recommend you contact us now to discuss your mortgage options.

These mortgage options show that mortgage rates of just over 1.00% are still available.  If you are concerned your mortgage repayments will increase in future, call us now on 01707 872000 for mortgage advice. We can review your circumstances and offer you the best option for your situation.

Our Thomas Oliver mortgage brokers can save you time and money as we can review the best mortgage products available in the mortgage market and find you the lowest mortgage rate.  

Please remember that these rates are only an example of what we can offer and might not be available when you call.


Mortgage Option 1

£150,000 loan with a 25-year term

Fixed rate of 1.09% until 31.03.24

Monthly Payment £136.25

Early repayment charges will apply until 31.03.24
The overall cost for comparison is 4.5% APRC

For an interest only mortgage you would pay 25 payments at a cost of 1.09% with monthly payments of £136.25, followed by 275 payments at a variable rate which is currently 4.74% with monthly payments of £592.50 Total amount payable £319,794.

The illustration is based on an interest only mortgage.


Mortgage Option 2

£200,000 loan with a 25-year term

Fixed rate of 1.09% until 31.03.24

Monthly Payment £181.67

Early repayment charges will apply until 31.03.24
The overall cost for comparison is 4.5% APRC

For an interest only mortgage you would pay 25 payments at a cost of 1.09% with monthly payments of £181.67, followed by 275 payments at a variable rate which is currently 4.74% with monthly payments of £790.00. Total amount payable £426,307.

Please note if you are reading this this after 18/2/22 it is possible that these rates may no longer be available.


Thomas Oliver provides mortgage advice for the following services:

  • Mortgages
  • Remortgages
  • Product Transfer
  • Further Advances
  • Interest Only Mortgages
  • Repayment Mortgages
  • Variable Mortgages
  • Tracker Mortgages
  • Fixed Mortgages

Errol Hall, Mortgage Broker in Saffron Walden, Hertfordshire said:

“We offered interest only mortgage options below 1% in November 2021, before the Bank of England raised base rates.  Now clients are concerned that interest rates may go up again. At this point no one knows whether more base rate rises are likely. If they come mortgage repayment terms are going to increase too.  We are regularly meeting clients who are struggling with their finances, because of escalating energy bills.  One way to reduce your outgoings is to review your mortgage product and repayment terms. Our new February mortgage rates are higher than previous rates, but it may still be beneficial for you to switch provider now. We will only know this by looking at your individual financial circumstances. We recommend that you call our mortgage brokers on 01707 872000 and arrange a free, no obligations mortgage advice review now. This will give you peace of mind that you have considered all the available mortgage options, so you are not paying more than you should. Also remember if you want to move house this spring or summer it’s worth sorting your mortgage first, so you know the price of property you can afford.’

In summary...

Take a mortgage review now with one of our mortgage advisors so you know all your mortgage options.

Your property may be repossessed if you do not keep up repayments on your mortgage. Thomas Oliver UK LLP are appointed representatives of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.

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