New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Mortgage lender comments on fixed mortgage rate war
Tue, 02 Aug 2005
Mortgage lenders have been cutting its fixed mortgage rate in the throes of a "fixed rate war", says Bradford &Bingley. The mortgage lender's Duncan Pownall, mortgage development manager, noted how the big lenders have been reducing fixed mortgage rates over the last few weeks in a bid to retain customers.

Nationwide currently offers a two-year fixed mortgage rate of 4.39 per cent, Halifax of 4.29 per cent and Alliance &Leicester at 4.24 per cent. Newcastle currently leads the market with the lowest mortgage rate of 4.22 per cent over two years.

"The present fixed rate war though is great news for the 800,000 potential remortgagers who have either come off or are about to come off the cheap fixes this year," Mr Pownall commented.

The mortgage lender warned that first time buyers , homeowners and those looking to find a remortgage should not be tempted by the mortgage rate alone. "Remember that whilst these rates do look attractive, some sport fairly hefty arrangement fees, not always ideal for those with smaller loans," Mr Pownall warned.

He urged first time buyers, homeowners and those looking to find a remortgage to ensure they are getting the deal that is best for their circumstances, "not just the deal with the lowest rate".

He predicted that over the next few months, especially with predictions of an imminent interest rate cut, it will become increasingly expensive for lenders to continue to offer such low fixed mortgage rates.

Link to this page

Copy and Paste the following HTML into your page.

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.
Sign the petition

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter