More choice added to mortgage deals for UK home borrowers

British, commercial lender, TSB Bank has whittled interest rates down, making them far more attractive to home-buyers. Various retooled deals include fixed two and five year rates for second, and more time around, mortgage-seekers.

There’s also a cash-back incentive for some first time home-buyers and home-movers. None of the selected mortgages include application charges. Other British institutions are getting into the act as well.

Accord Mortgages is dropping fees for buyers that meet certain criteria. A low interest rate and no early repayment penalties is part of a promotion offered by The Chelsea Building Society. Reduced rates is also a feature of a new buy to let mortgage deal, instituted by the Leeds Building Society. While the above constitute a mere handful of the options for buyers in the UK, it’s clear mortgage-seekers will have a bit of an easier time.

Key Takeaways:

  • UK housebuyers looking for a new mortgage now have even more choice with a number of lenders launching new rates and products.
  • The TSB has reduced interest rates by 0.10% on selected mortgages for home movers, first time buyers and remortgage borrowers. These include five year fixed rates and two year fixed rates for remortgagers.
  • The lender has also announced a reduced rate for two year trackers for remortgagers and a £250 cashback for homes movers and first time buyers seeking a LTV of 85% to 95%. None of the mortgages have application fees.

Read the full article:

http://www.propertywire.com/finance-update/choice-added-mortgage-deals-uk-home-borrowers/

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