Property News · February 6, 2015

Fixed-rate mortgages at new low, even for borrowers with a small deposit


First Direct and Barclays slug it out as Bank of England holds base rate at 0.5%Interest rates on fixed-rate mortgages have fallen to new lows, with First Direct and Barclays engaged in a price war that is pushing the cost down even for those with relatively small deposits.The cuts come after the Bank of England’s monetary policy committee voted, yet again, to hold base rate at 0.5% – where they have now stood since March 2009. First Direct is cutting the rate on its 10-year fix from 3.49% to 2.89%, leapfrogging a 2.94% deal launched by Barclays earlier this week, which had matched the other best-buy deal from Santander, also at 2.94%. Continue reading…

Source : theguardian.com
Read more…Fixed-rate mortgages at new low, even for borrowers with a small deposit

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