18 Jul

Mortgage market looking up

Mortgage market looking up

Mortgage holders and prospective first-time buyers breathed a sigh of relief yesterday as lenders began to lower rates.

Nationwide announced that from today it will reduce the rates on its two, three and five-year fixed-rate products and two-year and lifetime tracker mortgages.

Meanwhile, Halifax, the UK's biggest mortgage lender, has stated that 20 of its fixed-rate products will see decreases of 0.15 per cent.

Matthew Carter, divisional director for mortgages at Nationwide, commented: "For the second time this month, we are in a position to reduce the rates on mortgages, offering some of the most competitive rates in the market."

The rate cuts are widely thought to be a result of a fall in London Inter-Bank Lending Rates. On Wednesday the three-month rate dipped from 5.85 per cent to 5.84 per cent.
ADNFCR-1222-ID-18692309-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.