Househunters and those looking to remortgage are still continuing to benefit from the Bank of England's decision to leave the base rate at a record low level, it has been claimed.
David Hollingworth, at Bath-based broker London and Country Mortgages, explained that the picture is "looking rosier for borrowers keen to fix mortgage payments".
He added: "Competition among lenders is hotting up and it is good to see homeowners benefit."
Santander recently cut fixed-rate loan costs by up to 0.2 of a percentage point, while Northern Rock reduced its two-year fix for those with a 20 per cent deposit or equity from 4.59 per cent to 4.35 per cent.
Meanwhile, Leeds Building Society recently launched a five-year fixed mortgage range that pays up to ten per cent of the capital each year, without penalty and £1,000 cash back on completion.
In addition, there is no higher lending charge and the mortgage is fully portable.
Mortgage holders should take comfort in Banks decision
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Mortgage holders should take comfort in Banks decision
Mon, 12 Jul 2010
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| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
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