Mortgage rates in the UK fall

Several credit institutions in the UK introduced new loan products, including reduced loan rates and service charge for homebuyers and investors in housing.

Company Leeds Building Society has announced a reduction of rates on mortgage loans, which, it alleged, was a response to constant demand from buyers who invest in residential property in the UK on the programme “buy to let”, – buy to lease.

These loans are available on the market each and the size of the payoffs remains constant during the entire period at £999. The fee includes a two year fixed rate that is reduced by 0.59% from 3.99% to 3.40% with an index of LTV (the ratio of loan to value of the product) equal to 75%.

For LTV equal to 70% , the rate may be even lower and is in the range of 3.99% to 3.29% .

“We are very pleased to support the owners of houses and apartments by offering them a historically low rate. We felt that now is the time to lock in low rates and in return get certainty and continuity of cash flow. Two years low fixed rates will allow you to refinance 10% of capital each year,” said Kim Rebechi, Director of sales and marketing at Leeds Building Society .

Currently, homeowners with value LTV 75% or less choice of mortgage products is expanding. But affordable mortgage products with value LTV exceeding 75%, is not enough. Company Leeds Building Society intends to fill this gap, offering a two-year fixed rate mortgage products “buytolet” in the amount of 4.99% for those who value LTV is 80%.

Many lending institutions now to lure customers resort to various cunning techniques, introducing reduced rates, but to compensate for losses due to the higher cost of service of financial products. Company Leeds Building Society convincingly argues that she presented to the market is really cheap and affordable loan product that can support customers.

Tesco Bank also announced about its three main mortgage products with reduced rates for 2, 3 and 5 years. Rates apply to mortgage loans that are available with value LTV of 60% and claimed as a competitive.

Credit products issued by Tesco Bank, will offer its customers the choice of a convenient ratio of bet and amount of service, and each client, accepting a mortgage, receive a club card Tesco Bank with a cumulative points system, 1 point for every £4 paid on a mortgage. Accumulated points can be used in the calculation of the supermarket chain Tesco, has exhibited widely across the UK.

Another new mortgage loan product introduced by the Bank HSBS , which appeared in response to demand from clients with more than 50% of the Deposit. HSBC offers for such customers, the base rate from 1.99% , the current rate is for 2.49%. This proposal is unique in that it does not include additional service charges.

® Maxim Savitsky. 01.06.2013 g.