27 Nov

New mortgage cuts announced

New mortgage cuts announced

Two lenders have announced cuts to some of their mortgage rates.

Woolwich is cutting 0.6 per cent off two of its fixed-rate mortgage deals, the lender's parent company Barclays has said.

This means a two-year fixed rate is now 4.39 per cent and a three-year deal is 4.69 per cent.

Customers taking out loans at 70 per cent loan-to-value (LTV) can take a 4.99 per cent deal for two or three years, this being a rate reduction of 0.7 per cent in the first case and 0.5 per cent in the second.

Woolwich has also launched a lifetime tracker deal at 1.99 per cent above the base rate, with an LTV of up to 60 per cent and a £995 fee.

Meanwhile, Abbey is announcing 0.45 per cent cuts to all its five-year fixed-rate mortgages at LTVs between 60 and 75 per cent.

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