21
Aug
More mortgages cut
More mortgage rate cuts have been announced as the trend for
lenders to lower costs continues.
Abbey has revealed a series of new reductions to various deals,
including 0.2 per cent reductions to its flexible offset products
and its five-year fixed low-fee mortgage.
The lender has also reduced its three-year trackers by 0.1 per cent
and is lowering its two and three-year trackers by up to 0.25 per
cent.
Another lender making rate changes is Yorkshire Building
Society.
It has declared that its fixed-rate mortgage costs for deals that
are pegged until 31 October 2010 will now be 5.54 per cent with an
£895 fee, £100 less than previously.
Mortgage product manager at the society Tom Girling commented:
"There are signs of increasing activity in the mortgage market
which can only be helped by falling rates."
These new deals are the latest of many introduced by a range of
lenders as the trend for swap rates to fall has continued.
