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Mortgage rates to come down further
Many of the UK’s mortgage lenders have cut or about to cut their rates over the next few days, bringing relief to borrowers looking for both residential and buy to let deals.
The lenders that have bought their rates down so far include the Halifax, Mortgage Works, Bristol & West, Cheltenham & Gloucester, Bank of Ireland and the Royal Bank of Scotland.
The Abbey is to bring down its rates by 0.6 percentage points on Monday for those looking for upwards of 85 per cent loan to value.
Next week lenders including UCB Home Loans and Birmingham & Midshires are also expected to announce rate cuts.
First time buyers are still finding it hard to find affordable deals and there is no sign that the popular 100 per cent mortgage is on its way back. Those with a very good credit history will still be offered 95 per cent deals, anyone with bad credit including missed or late payments on credit cards or loans will only be offered 90 per cent deals.
← Value of auctioned homes down by 25% | News For September 2008 | Lehman Brothers goes bust →
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
This site is intended for UK residents only. The overall cost for mortgages for comparison is % APR.
The actual rate will depend on your circumstances. APR variable and based on a usual case.
Grovelawn Financial is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority.
Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
Entered on the Financial Services Authority's Register — Register Number: 314204 — Consumer Credit Licence Number: 573287
The Financial Services Authority (FSA) do not regulate some types of buy to let, commercial, overseas mortgages, tax advice and credit or loans not secured on property.