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At the same time the mutual will cut up to 0.15 percentage points off selected discounted variable rate deals. Virgin Moneyhas cut selected fixed rate deals for residential purchase and remortgage by up to 0.69 percentage points. Among the highlights its five-year fixed rate for home purchase is now priced at 5.13percent (65percent LTV) with a 1,295 fee. The five-year fix for remortgage customers has dropped to 5.28percent (60percent LTV) with a 995 fee.
Founder of MoneySavingExpert Martin Lewis says the change is « worryingly under the radar » and urged customers to check if their repayments are set to the minimum amount. Iceland has launched several new collaborations in recent months, including exclusive products with brands such as Slimming World, MyProtein and boxer Tyson Fury’s Furocity. The charity have previously uncovered substandard and dangerous electrical products across major online marketplaces.
- Accord, part of Yorkshire Building Society, has cut rates by up to 0.64 percentage points across its high loan to value deals, aimed at first-time buyers.
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- Committee Chair Harriet Baldwin MP asked about the significant rise in mortgage costs for borrowers and potential increases to arrears.
- Coventry building societyis cutting fixed rates for new borrowers.
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Clydesdale Bank, part of Virgin Money, has also cut selected rates from today . Among its new rates, available through brokers, it is casino 21 dukes 100 no deposit bonus offering a two-year fixed rate for residential remortgage at 4.85percent (65percent LTV) with a 1,488 fee and an equivalent five-year deal at 4.60percent. Santander is the latest of several major lenders to trim the cost of fixed rate deals since the start of the year on the back of growing market confidence that interest rates have peaked.
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Buy-to-let rates, product transfer deals and additional borrowing fixed rates will also increase at the same time, by up to 0.3 percentage points. Yorkshire building societyhas cut borrowing rates for customers with a low deposit or equity in their home. It has a two-year fixed rate for home purchase at 6.08percent (was 6.35percent) for borrowers with a 15percent deposit.
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Included among the reductions from Nationwide are a five-year, fixed-rate mortgage at 4.44percent (90percent LTV) and a two-year fix at 5.29percent (95percent LTV) that both incur a 999 fee. The property portal says the stabilisation of mortgage rates and a ‘frenetic’ rental market are pushing more first-time buyers to the market. The lenders concerned say their tracker mortgage rates – which are formulated to match movements in the Bank Rate – will increase as usual. While Nationwide has offered competitive rates on borrowing for green home improvements before, this is the first time it has made interest-free loans available. A higher Bank of England Bank Rate will also mean higher variable and tracker mortgage rates.