Property Assistant UK

Big Mortgage Rate Reductions

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Big Mortgage Rate Reductions

Some lenders have lowered selected residential and buy-to-let rates by up to 0.79 per cent, with some deals now under four per cent. 

Within the residential range, purchase and remortgage rates have been cut with reductions of up to 0.69 per cent applied.

This includes its five-year fixed remortgage rates at 60 per cent loan to value (LTV) has fallen from 4.58 per cent to 3.89 per cent. It is subject to a £1,495 fee.

First-time buyer range, cuts of up to 0.4 per cent have been made to purchase and remortgage rates. An example includes its two-year fixed rate purchase rate at 90 per cent LTV which has gone from 5.34 per cent to 4.94 per cent. It has a £995 fee and £250 cashback.

Shared equity range has cuts around 0.25 per cent, including its five-year fixed rate purchase deal at 60 per cent LTV which has been cut from 4.39 per cent to 4.14 per cent. It has a £995 fee and £250 cashback.

On the buy-to-let side, reductions of around 0.44 per cent have been made, impacting purchase and remortgage products.

An example includes its five-year fixed rate purchase product at 75 per cent LTV going from 4.94 per cent to 4.5 per cent. It has a £995 fee.

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