Rate cut and new mortgage deal round-up
by Gill Montia
Yorkshire Building Society has today launched a two-year fixed-rate mortgage with interest at 5.54%. The lender is also tempting customers with a reduced fee of £895.
In addition, both Yorkshire and Abbey have announced rate cuts on various loans.
Yorkshire has made amendments to an existing two-year fixed-rate mortgage that carried a 3% fee: the rate is being cut from 4.99% to 4.89% and the fee has come down to 2.5%.
Abbey has cut rates on a range of mortgages as follows: flexible offset loans by 0.2%; three-year trackers by 0.1% and five-year fixed low-fee mortgages by 0.2%.
Also this week, Abbey says it will cut interest on its two and three-year fixed-rate deals by up to 0.25%.
Meanwhile, RBS and NatWest have launched new loans for existing mortgage customers.
The lenders say they want to reward loyalty and help customers coming to the end of fixed terms.
Fixes are available from between two and ten years. Rates vary according to loan-to-value (LTV) ratios: 6.19% for 75% LTV and 6.54% for an LTV of up to 95%.
Existing mortgage customers can also benefit from a tracker, currently at 5.99% for 75% LTV or 6.14% for 90 LTV.
A fee of £899 applies to all the new RBS and NatWest deals.
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