10
Sep
New mortgage cuts announced
More mortgage lenders have announced reductions to the rates on
their fixed-rate mortgages as falling swap rates make more cuts
possible.
Nationwide has unveiled cuts of up to 0.3 per cent on selected
tracker and fixed-rate deals, while it is introducing a new
two-year tracker at 5.58 per cent with a fee of £999.
These new rates will apply from Friday September 12th.
Director of mortgages Matthew Carter said: "We are pleased to be in
a position to reduce rates for the third time in six weeks and will
continue to look for opportunities to make further reductions,
where possible."
In addition to Nationwide, the Co-operative Bank has also said it
is to reduce some rates from Monday 15th September.
It will trim its three-year fixed-rate deals from 7.09 per cent to
6.79 per cent, while the five-year fixed-rate mortgage will drop
from 6.89 per cent to 6.19 per cent.
Both products are available at a loan-to-value of up to 75 per
cent.
