Waterfords Advent calendar: 6

DAY 6: The gift of low mortgage rates. Despite the first increase in interest rates in 10 years in November, average mortgage rates remain low.

Rates for fixed rate mortgages, which currently account for 94% of all new mortgages, are even lower. The current average mortgage rate for a 2 year fixed rate mortgage (75% LTV) is 1.56%, for a 90% LTV 2.35%.

Choosing a mortgage is an enormous financial decision. There are thousands of mortgages on offer, so how do you choose the right one for your needs? The mortgage market is extremely competitive and it can be hard to understand what is on offer and which product is the right one to suit you.

Click here for advice about choosing the right mortgage for you.