Yorkshire Building Society and Halifax Bank of Scotland have cut interest rates on several of their most popular mortgages, which is good news for buyers of new homes.
The former has slashed mortgage rates by as much as 0.5 per cent, with immediate effect. It means that a no-fee two-year deal is now available at 6.79 per cent.
Halifax has reduced rates on 16 deals, by up to 0.30 per cent. Changes include a 0.3 per cent reduction in the cost of a two-year fixed-rate mortgage.
There is also a new ten-year fixed-rate deal at a rate of 6.29 per cent.
Bank of Scotland has slashed rates on 29 of its deals by up to 0.45 per cent. For example, the lender's two-year fixed-rate large loan has fallen to 6.64 per cent.
Among other lenders to trim their rates in recent days are Woolwich, Cheltenham & Gloucester and Nationwide.
See Also: Property News (6705)
Date Published: 28 July 2008
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