Interest rates for first-time buyers and household moving ranges nationwide will be reduced by up to 0.25%, with the lowest tax rate currently below 4%.
Interest rates effective tomorrow can be used on two-year and five-year fixed-rate products.
For existing and new customers who move, lenders have reduced their selected two-year, three-year and five-year fixed-rate products by 95% by 95%.
This includes a two-year fixed interest rate of 60% LTV, with a fee of £1,499, which has been reduced from 4.14% to 3.89%, while a five-year fixed interest rate of 60% LTV, with a fee of £1,499, a 0.13% reduction to 3.89%.
It also reduced the fee of £999 by 0.25% to 3.94% at a fixed rate of 60% LTV, and the fee of £999 at a fixed rate of £999 at a fixed rate of 0.13% to 3.94%.
Meanwhile, LTV for first-time buyers of two- and three-year fixed-rate interest rates nationwide was reduced by 0.24%.
These include a two-year fixed interest rate for 60% LTV and a fee of £1,499, which has been reduced from 4.29% to 4.09% and a two-year fixed interest rate for 60% LTV with a fee of £999, which has been reduced by 0.20% to 4.14%.
Commenting on the cuts, Aaron Strutt, director of financial products and communications at Trinity, said: “There were a lot of changes and price cuts last week as lenders worked harder to attract borrowers. The lower rates of NATWest, Halifax and Yorkshire BS were clearly seen nationwide and ensured that their mortgages remain competitive.”
“The lowest interest rate nationwide can be used for mortgages between £300,000 and £5 million. It’s great to see that society offers a fixed amount of less than 4% for two years, three years and five years.”
Earlier today, Halifax announced it had lowered the reduction rate for home buyers and cashed products, including a two-year fixed rate of less than 4%.
The lender’s two-year fixed interest rate (up to 60% of LTV) now costs £999 and now costs 3.94%.
