14
Aug
More mortgages cut
More mortgage rates have been cut this week as swap rates continue
to fall.
Yorkshire Building Society has revealed a new range of two, three
and five-year fixed-rate mortgages at 5.74 per cent at a 75 per
cent loan-to-value (LTV), while its ten-year deal is now 5.84 per
cent.
"Swap prices have come down this week so we can pass on the
benefits to hard pressed borrowers," said product manager for
mortgages Tom Girling.
The news comes after Woolwich unveiled cuts this week of 0.32 per
cent on its two, three and five-year fixed deals at a 60 per cent
LTV, with a 0.07 per cent trimming of its ten-year rate.
Swap rates are not the only reason for the repricing of some deals
this week, the Guardian reports.
Industry insiders quoted by the paper have said new rates announced
by Northern Rock have also had an effect, with one describing these
as "priced very aggressively".
