Mortgage interest rates have never been lower

The level of interest payable on mortgages has never been lower. That’s according to figures published by the financial website Those opting for a fixed rate of interest repayable over 20 years currently pay an average of 2.63% interest on their mortgage. The course of last year many home-owners re-mortgaged in order to benefit for the exceptionally low mortgage rates.

The number of re-mortgages in 2015 was up by 150% compared with 2014. According to the financial services trade association Febelfin there was a peak in re-mortgaging during the second quarter.

Kristof De Paepe of told journalists that re-mortgaging now wouldn’t be beneficial for some.

However, "Those that re-mortgaged last year will probably not see any benefit from re-mortgaging again now, but people that missed the boot then would be advised to look into whether re-mortgaging would be beneficial”.