26 Mar

Building society cuts mortgage rates

Building society cuts mortgage rates

Britannia Building Society has announced cuts to its three-year fixed-rate mortgage deals with effect from tomorrow (March 27th).

The lender said it would trim these rates by up to 0.25 per cent for existing members, with the cheapest offer being set at 3.99 per cent with a loan-to-value (LTV) ceiling of 60 per cent and an arrangement fee of £549.

Rates for new customers have been trimmed by up to 0.2 per cent, with the lowest figure being set at 4.24 per cent, a 60 per cent LTV and a £549 fee.

Another lender to announce a reduction in mortgage rates is Woolwich.

It is making cuts of between 0.1 per cent and 0.5 per cent to its fixed and tracker mortgages, with the largest reduction applying to its five-year fixed-rate deals with a 70 per cent LTV and a fee of £995.

The rate on these is falling from 5.29 per cent to 4.79 per cent.

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