Lenders have slashed fixed rate mortgages to record lows and more 90% deals have been introduced.

With three and four year fixed rate money below 3% existing homeowners should also now look to remortgage. Many of these deals also offer a free valuation and free legal fee service.

The number of mortgage products available to intermediaries has increased by 35% since January while direct products have fallen by 29% in the same period.

Prospective mortgage customers should seek independent mortgage advice as many estate agents and mortgage brokers often build in expensive insurance products and insist on their in house’ unqualified legal services’ who usually work out no cheaper than using a qualified local solicitor.