Six lenders have cut mortgage rates ahead of the Easter weekend, on deals across the loan-to-value range and on a variety of different terms.
Post Office Money came in with the widest selection of new offers, including fixed-rate cuts and a newly-priced Help to Buy product.
Specialist lender Kensington cut rates by up to 0.6 per cent across its buy-to-let and residential range as part of a “major growth push”, with Steve Griffiths, head of sales and distribution, commenting on growing demand for work on those with incomes too complex for the high street to handle.
David Hollingworth, associate director of communications at London and Country Mortgages added: “The mortgage market is offering very competitive rates at the moment but many borrowers can still find it hard to tick all the boxes for some high street lenders.
“Alternative approaches to cater for borrowers who are self employed or have a more complex income are therefore very welcome.”
Meanwhile, Teachers Building Society has lowered the arrangement fee on its 90 per cent and 95 per cent LTV mortgages, in a bid to make them more affordable to first-time buyers.
The previous arrangement fee of £1,999 is down to £899 and the two mortgages have been relaunched as three-year variable rate mortgages, in order to meet the needs of customers who want longer term discounted deals.
Norwich and Peterborough Building Society launched its lowest ever five-year fixed rate mortgage at 2.28 per cent, while Metro Bank updated its residential and buy-to-let mortgage ranges.
Specifically for the intermediary market, Halifax also launched new two-year tracker and five-year fixed rates, along with reduced rates within their two-year range.
To complete the rates round-up, here are all the publicly announced deals this week:
|Lender||LTV/type||Headline rate||Product fee|
|Metro Bank||60%/5-year fixed||2.49%|
|Post Office Money||60%/3-year fixed||1.75%||£1,995|
|Post Office Money||60%/2-year fixed||1.25%||£1,995|
|Norwich & Peterborough Building Society||65%/5-year fixed||2.28%||£1,295|
|Metro Bank||65%/2-year fixed||2.89%|
|Metro Bank||65%/5-year fixed||3.59%|
|Metro Bank||70%/2-year fixed||1.99%|
|Metro Bank||70%/2-year tracker||2.39%|
|Metro Bank||75%/2-year tracker||2.89%|
|Post Office Money||75%/5-year fixed||2.49%||£995|
|Post Office Money||80%/2-year fixed||1.83%||£995|
|Metro Bank||85%/2-year tracker||2.19%|
|Post Office Money||85%/2-year fixed||2.19%||£995|
|Teachers Building Society||90%/3-year variable||4.59% first three, then 4.99%||£899 arrangement, £99 application|
|Teachers Building Society||95%/3-year variable First time buyer (teachers only)||4.89% first three, then 4.99%||£899 arrangement, £99 application|
|Post Office Money||95%/Help to Buy 2-year fixed||3.98%||£0|