15 August: All Eyes On Key Inflation Update On Wednesday
Barclays has cut the cost of fixed rate borrowing on selected loan deals, effective from 15 August. It is the last of the biggest six lenders to cut rates over the past two weeks, writes Jo Thornhill.
Its two-year fix for purchase and remortgage customers is cut from 6.30% to 6.13% (60% LTV) with a £1,999 fee. The equivalent five-year fix is cut from 5.95% to 5.52%.
The bank’s two-year fixed rate fee-free deal for product transfer (85% LTV) is cut from 6.96% to 6.66% and its five-year Reward fixed rate deal, also fee-free for product transfer, is cut from 7.03% to 6.73% (also 85% LTV).
Bank of Ireland is cutting fixed rates for new customers across its range from tomorrow (16 August). It is offering a two-year fix for remortgage at 85% LTV at 6.15% (down from 6.30%) with a £995 fee. It has a five-year fix, also for remortgage, at 75% LTV at 5.55% (down from 5.62%) with a £995 fee.
Halifax has cut rates on selected two, five and 10-year fixed rate residential mortgage deals by up to 0.71 percentage points following a glut of lenders, including NatWest, Santander, HSBC, First Direct and TSB, who have cut rates in recent days.
The bank, which is the UK’s biggest mortgage lender, has cut rates across its range, including for first-time buyers, new build, shared equity and large loan mortgages.
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Source: www.forbes.com
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