Thursday, November 19, 2009
UK Lenders Announce Mortgage Rate Cuts
The latest announcement by Lloyds Banking Group is good news for borrowers waiting for a further decrease in mortgage interest rates. Lenderâ€™s mortgage arm, Cheltenham & Gloucester, reported a 0.5% cut in mortgage interest rates on 2-year fixed and tracker mortgage deals that are offered through mortgage brokers. Moreover, Cheltenham & Gloucester launched a new best buy mortgage deal. Lenderâ€™s borrowers with deposits of 40% or more are now offered to benefit from a 2-year tracker deal available at 2.29% above the base rate (a pay rate of 2.79%) and a fee of Â£995.