Last week, Nationwide were the first lender to cut their mortgage rates, offering a two-year fix below 5%. The market has not seen a two-year fix mortgage deal below 5% since June.
The lender is offering 4.99% with a £999 fee on it’s two year fix and has also cut mortgage rates on its 3 year and 5 year products.
Rate cuts have also been seen from Royal Bank of Scotland, NatWest, HSBC and Virgin Money.
People moving home, first time buyers and people needing to re-mortgage all stand to benefit from these cuts.
It is hoped that other lenders will follow suit, which would lead to a much more competitive market over the next few months.
Whether you are a seasoned property developer or a first time buyer, if you require any assistance in relation to your property, our experienced solicitors at Alfred Newton are here to help. We pride ourselves on providing a personal service and like to build long standing relationships with clients, often serving generations of the same family.
With five offices across Stockport & Cheshire, we are ideally positioned to serve Stockport, South Manchester and Cheshire, but also act on matters nationwide, including London.
For further assistance please contact us today on 0161 480 6551.
Janine Murphy, Solicitor
