UK banks in struggle for clients lower rates on mortgages

In the market of mortgage lending in the UK there are events that can not but rejoice borrowers – increased choice of mortgage products, lenders reduce interest rates on loans and service charges of the loan.

First Direct is a division of HSBC Bank, specializing in Internet and telephone customer service, has become the winner in the nomination “the Most reliable mortgage provider”. 23 Aug 2013 First Direct has announced the reduction of interest rates for 11 of their sentences to 20 basis points.

Loans at reduced rates will benefit borrowers with 25-35% Deposit, in addition, Internet and phone service will allow borrowers to significantly reduce their costs on initial costs.

Despite the fact that government programs to stimulate the housing market of UK has created a more competitive environment among lenders, increase in property prices makes buying their homes increasingly unaffordable for many people. Therefore, banks continue to fight for customers, lowering rates and offering new mortgage products.

Halifax Bank offered reduced rates on their mortgage loans by the primary lending and lending to 0.45%.

For example, a mortgage product with an initial payment of 10% (90% LTV) two-year fixed rate of 4.59% is offered without service fees. A mortgage product with a 85% LTV (down payment 15%) available at a rate of 3.59%, but will incur a fee of £995.

Mortgage lending with a level of 75-80% LTV(initial payment of 20-25%) is available at the rate of 3.19%.

Thus, banks now pay attention not only to those buyers who first buy a housing, but also on the entire market.

Virgin Money also announced the introduction of the new reduced mortgage rates. New loans with LTV level of 60% is offered now at a rate of 2.04%, and loans with the level LTV80% are offered at a rate of 2.85% . In addition, the reduced three-year fixed rates and mortgage rates for topocal , tobaccostained.

Metro Bank has launched two new mortgage product for professional investors is a product with a two-year fixed rate of 4.89% and five-year fixed rate of 5.25% .

® Helen Entree. 22.08.2013 g.