• From This is Money:

    But the cost of mortgages is still high for those without a large deposit.
    Saffron Building Society last week launched a two-year fixed rate at 5.89% that is available to borrowers with at least a 10% deposit.
    Cheltenham & Gloucester, part of Lloyds TSB Group, also introduced a two-year tracker loan and a two-year fix for borrowers with a 10% deposit or more.
    But the rates are high at 6.99% to fix and a starting pay rate of 5.99% on the tracker.
    The deals are not available for those who want to remortgage their homes.
    There are other new deals that are aimed at borrowers with little equity in their homes who need to remortgage.
    Abbey, owned by Spanish bank Santander, has said it will offer lower rates to Abbey and Alliance & Leicester current account customers who have held an account for more than six months.
    The deals go up to 90% loan to value (LTV) for those taking fixed rates. Nationwide, which last week reported a sharp plunge in half-year profits, has als…

    Click to read the full article »

    Posted by Jon @ 11:18 pm

Leave a Reply

Your email address will not be published. Required fields are marked *