News - Lenders
Mortgage Solutions | 15 Sep 2011 | 09:02
Hinckley & Rugby Building Society has launched a five-year fix at 3.39% and a two-year fix at 2.59%, as fixed providers continue to compete on rate.
Both fixes have maximum loan-to-value (LTV) of 75% and a maximum loan of £300,000. There is a free property assessment where the value is £1m or less.
Hinckley & Rugby, chief executive Chris White said: "At a fixed interest rate of just 3.39 per cent this is a winning combination for many in the market today, who want to be able to plan their repayments for five years with certainty."
Accord, Yorkshire Building Society's broker arm and near prime lender Precise both cuts their fixed rates earlier this week.
Consumers are increasingly choosing fixed rates with a Mortgage Solutions poll result showing 51% of brokers saying their clients wanted fixed rates and over a third wanted longer-term deals.
Skipton Building Society launched a seven year fix on the 16 August, following a ten-year the same week.
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Recent comments
C'mon guys - it's not the interest rate that's the problem, it's finding a 10 - 15% deposit and not being able to have an Interest only mortgage option above 75% loan to value, especially in the BA/BS postcode area that's the real issue! Thank goodness that the Buy to Let market is buoyant and will remain so while buyers are trapped with two options; live with your parents for as long as possible, or rent!
John Morgan
15 Sep 2011 | 09:35
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Its not rates that's the issue. Lenders must try to compete on criteria and firm up policy that changes daily at the whim of an untrained underwriter or case processor.
Jeff
15 Sep 2011 | 10:13
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