Analysis of mortgage rates by MoneySuperMarket shows that at the start of June, 10 mortgage interest rates of one per cent or less were available to homeowners which has climbed to 50 by the end of the September. In April there were none.
Some 16 products with rates below one per cent are available for first-time buyers and home movers with a further 18 open to remortgage borrowers.
Jo Thornhill, money expert at MoneySuperMarket, said: “Our insights reveal that now is a historically good time to be on the look out for a new mortgage deal. Just six months ago, securing a mortgage rate of 1.5 per cent to two per cent would have been viewed as a real success but the past four months have seen borrowing get even cheaper, with the availability of deals with rates lower than one per cent quadrupling.”