• From This is Money:

    Abbey, the biggest mortgage lender, has cut its two and three-year fixed rates by up to a quarter of a percentage point. Its best two-year fix is now at 5.89% with a £995 fee.

    C&G cut its fixed rates by up to 0.31 of a point with the best deals starting at 5.65%.

    The bank also shaved 0.1 of a percentage point off its tracker deals, which start at 5.69%.

    Melanie Bien, director at the independent mortgage broker Savills, says: ‘Swap rates – the rates at which banks lend to each other – have fallen by about half a percentage point in the past month, so it is no surprise that fixed rates have started to fall. It is a huge relief to borrowers.’…

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    Posted by Jon @ 2:25 pm

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