Financial Times - Lender offers cheapest-ever two-year fixed mortgage
Yorkshire Building Society has launched a two-year fixed rate mortgage with a record low interest rate of 1.07 per cent, marking the latest foray in the mortgage price wars.
Aaron Strutt, product director at broker Trinity Financial, said lenders were repeatedly declaring “lowest ever rates” as they chased volumes by reducing interest rates. “Banks are still slugging it out to attract customers and if that means lowering rates marginally they’ll carry on doing it. But you have to wonder if they can get much lower.”
Barclays/Woolwich also ended a sub-2 per cent five-year deal this week — a ten-day special launched this month.
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