From This is Money:
A&L’s rate on two-year fixed loans of up to £250,000 will fall from 6.64% to 6.19%.
The bank is one of a range of lenders to trim rates for new borrowers. Britannia Building Society is now offering a two year fix at 5.44% with a £999 fee – down from 5.64%. Borrowers need a 25% deposit.
Woolwich’s threeyear fixed rate falls from 5.97% to 5.69% with a £995 fee. Halifax cut rates yesterday while Abbey will also trim mortgage rates from tomorrow.
‘The cuts are in sharp contrast to earlier in the year when rates were climbing fast,’ says David Hollingworth of independent mortgage broker London & Country Mortgages.
Savers have less cause for cheer as both A&L and Britannia cut rates on their fixed-rate savings bonds by up to 0.2 of a percentage point….