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31st of August 2010
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News Tag: fixed

September 17, 2009

Woolwich launches one-year tracker at 1.98%

by Gill Montia
”Woolwich
Woolwich has announced its second round of mortgage rate cuts this month. From today, the lender is introducing a one-year tracker mortgage at 1.98% for a 60% loan-to-value (LTV) deal, which comes with a £999 fee. The Barclays-owned firm is also cutting rates on its two-year 70% LTV fixed-rate deals with a £999 fee, to 3.99%; or 4.09% with a reduced fee of ...



September 1, 2009

Variable rate mortgage stages comeback

by Gill Montia
”Variable
Mortgage borrowers are becoming less fearful of interest rate rises and opting for variable rate loans in larger numbers. July figures from John Charcol show that while fixed-rate deals retained their popularity, variable-rate mortgages, such as tracker or discounted loans, made up 35% of all mortgages arranged through the broker, compared to 17% of the market in June. The swing reflected a sharp rise ...



August 29, 2009

Arrangement fees dive on fixed and tracker deals

by Gill Montia
”Arrangement
Borrowers seeking fixed and tracker rate mortgages are in for a pleasant surprise because arrangement fees have fallen by around 25% in the past 12 months. Research by moneysupermarket.com has revealed that the average two year fixed-rate deal now comes with a typical fee of £957, down 30% the £1,243 average charge this time last year. In addition, the average fee ...



August 4, 2009

Nationwide cuts rates by 0.5%

by Gill Montia
”Nationwide
Nationwide has cut rates by up to 0.5% on some of its fixed-rate and tracker mortgages, from today. Reductions have been applied to its two-year and three-year fixed-rate loans and two-year tracker deal, both for new customers and remortgagers. However, also from 4th August the building society will be retaining £99 of its existing reservation fees, having introduced a non refundable booking fee ...



June 29, 2009

Tracker/fixed-rate dilemma unravelled

by Gill Montia
”Tracker/fixed-rate
The tracker versus fixed-rate dilemma that currently faces homeowners has been investigated by moneysupermarket.com, with the odds laid out as follows: Mortgage borrowers on tracker rates saw their monthly repayments fall substantially, as the base rate plummeted to 0.5%. However, further falls in the base rate are unlikely whereas a rise is inevitable, probably by the end of the year. This prospect makes the idea of a ...



June 10, 2009

Lenders push up tracker rates despite base rate freeze

by Gill Montia
”Lenders
Latest figures from the Bank of England show that banks and building societies are raising the cost of their variable-rate mortgage deals. The news is disappointing, given that the base rate was held at an all-time low of 0.5%, in June and three month Libor, the rate at which most lenders borrow to fund their mortgage businesses, has fallen. ...



May 5, 2009

Woolwich lowers rates by up to 0.7%

by Gill Montia
Woolwich lowers rates by up to 0.7%
Woolwich is cutting rates across its range of mortgages, by up to 0.7%. A two-year fix at 80% loan-to-value (LTV) ratio is available at 4.99%, representing a reduction of 0.4%, while a three year fixed-rate deal at 70% LTV comes 0.5% cheaper at 3.99%. In addition, the Barclays-owned lender's offset tracker mortgage is down 0.5% to Bank of England base rate ...



March 17, 2009

Nationwide increases tracker rates

by Gill Montia
Nationwide increases tracker rates
Nationwide Building Society is increasing rates on some of its mortgage deals by up to 0.3%. From 18th March, remortgagers with a 40% deposit will pay interest at 3.93% for a two-year tracker, up from 3.63% previously. Homeowners with only 25% of equity in their properties will be charged at 5.08% for a similar deal, while existing Nationwide customers who need to borrow ...



January 20, 2009

Nationwide cuts fixed rates

by Gill Montia
Nationwide cuts fixed rates
The UK's third-largest mortgage lender, Nationwide, is cutting the cost on its fixed-rate home loans by up to 1%. The building society will be reducing rates on its two, three and five year fixed-rate deals from 21st January. A two-year fix will be available at 4.39% (down from 4.88%) for up to 60% loan-to-value (LTV) and a £995 fee. For the same deal with no fee ...



December 21, 2008

Lenders’ margins take away the shine for new borrowers

by Gill Montia
Lenders' margins take away the shine for new borrowers
During the past 12 months, lenders have steadily increased their margins on fixed and tracker rate mortgages, according to research by financial website, Moneyfacts. Over the past year, the Bank of England's base rate has fallen from 5.5% to 2%. In addition the cost of borrowing on the money markets has decreased: three month sterling Libor, the rate at ...



December 3, 2008

A&L cuts rates on two-year fixes

by Gill Montia
A&L cuts rates on two-year fixes
Alliance & Leicester (A&L;) has unveiled a new range of fixed-rate mortgages, available from 4th December. The lender, which is part of the Santander group, is reducing rates by up to 0.90%. Its offering includes a two-year deal at 4.94% (previously 5.79%), fixed until 31st December 2010. Customers can borrow up to 75% of a property's value and the maximum loan size is £250,000; ...



October 31, 2008

Abbey cuts a range of fixed-rates

by Gill Montia
Abbey cuts a range of fixed-rates
Abbey is cutting the cost of its fixed-rate deals with maximum loan-to-value (LTV) ratios of 60% and 75%, by up to 0.35%. The bank has also upped the maximum loan size on its two-year tracker and fixed-rate loans with a maximum 60% LTV, to £550,000. From 30th October, two and three-year loans at 60% LTV start at 5.49% plus a £499 fee, ...



October 2, 2008

Nationwide increases fixed-rates

by Gill Montia
Nationwide increases fixed-rates
Nationwide Building Society is increasing its rates by 0.2% across its range of fixed-rate mortgages, from 3rd October. The UK's biggest building society says it is responding to volatile money market swap rates and keeping pace with its competitors. The past fortnight has seen a plethora of rate increases from leading lenders following the deepening of the credit crisis heralded by the collapse of investment ...



September 12, 2008

Abbey cuts rates for 15% deposit holders

by Gill Montia
Abbey cuts rates for 5% deposit holders
Abbey's latest cut in mortgage rates offers a glimmer of hope to potential first-time buyers because the lender is reducing interest on some deals that require only a 15% deposit. In recent weeks leading lenders have been trimming rates regularly, with Co-operative Bank, HSBC and Nationwide all taking action this week. However, the best rates have been reserved for those with plenty ...



September 5, 2008

Abbey cuts rates

by Gill Montia
Abbey cuts rates
From 5th September, Abbey is reducing rates on a number of its mortgage deals. The lender is cutting interest on its two, three and five-year fixed-rate home loans by up to 0.30%. In the case of the five-year fix with a 75% loan-to-value (LTV) ratio the rate comes down to 5.89%. The two-year at 75% LTV is down by 0.20% to 5.79% and the three-year at 75% ...



September 2, 2008

RBS and NatWest cut rates

by Gill Montia
RBS and NatWest cut rates
RBS and its subsidiary, NatWest, have cut rates by up to 0.35% on fixed and tracker mortgages. The reductions are the second to be applied since the beginning of August and will benefit new customers and existing borrowers who need to remortgage. Applications can be made through RBS and NatWest branches and RBS and NatWest Mortgages Direct. While the majority of new fixed and tracker ...



August 22, 2008

Two-year fixed-rates return to 2007 levels

by Gill Montia
Two-year fixed-rates return to 2007 levels
Financial data provider, Moneyfacts, has announced that rates on the typical two-year fixed mortgage have returned to their 2007 levels. Interest on the average two-year fixed-rate deal is now down to 6.59% from a high of 7.08% earlier this year. However, potential borrowers will need a hefty deposit to benefit from the fall because the average deposit being demanded by lenders has risen ...



August 20, 2008

Rate cut and new mortgage deal round-up

by Gill Montia
Rate cut and new mortgage deal round-up
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 ...



July 24, 2008

Tracker mortgages provide strong competition for fixed-rates

by Gill Montia
Tracker mortgages provide strong competition for fixed-rates
Moneysupermarket.com is alerting homeowners to the fact that the average two-year tracker mortgage is offering increasingly good value. The price comparison website's weekly credit crunch monitor shows that at the beginning of June, there was little difference between the cost of the average two-year fix and the average two-year tracker. However, the latest update puts the difference at over 0.5%, in ...



July 22, 2008

Average two-year fixed-rate drops below 7%

by Gill Montia
Average two-year fixed-rate drops below 7%
Moneyfacts.co.uk has announced that the average interest rate on a two-year fixed-rate mortgage has fallen to 6.96%. Market swap rates have soared in recent months, taking rates on this popular type of loan to a ten-year high of 7.08%. However rates on the two-year and other fixed deals are now falling. In the case of the three-year fix, by 0.12% and on the ...



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