Mortgage News
Post Office and Principality among lenders cutting rates for New Year rush
Post Office Money and Principality Building Society are among the lenders that have this week cut fixed-rate mortgages ready for the New Year – and a potential rush of new movers and buyers in January.
Post Office has reduced its five-year fix at 85% loan to value (LTV) to 2.44%, which comes with no fee and £500 cashback.
Moneyfacts.co.uk said the deal is reasonably priced and is an attractive option for borrowers “looking for a recognised brand”.
At the same time, Principality has sliced its two-year fixed rate at 90% LTV to 2.15% – the deal is fee-free and is now in Moneyfacts.co.uk best buys for first-time buyers.
It comes after Accord dropped rates on 15 mortgages, as well as increasing cashback.
And Halifax has trimmed selected five-year rates and introduced new three-year rates.
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Clydesdale Bank has also cut certain fixed-rates by up to 0.3%.
Charlotte Nelson from Moneyfacts.co.uk said: “It continues to be the case that the market is competitive and lenders are still launching some decent offers to entice new borrowers ahead of prospective activity in Janauary.”