Lenders make changes to their best buy mortgages
A number of lenders have made changes to the price of their mortgages this week and the market leading two and five year fixes offered by NatWest were increased by 0.3%.
The Royal Bank of Scotland, NatWest, Cheltenham and Gloucester and Halifax have all changed their mortgage range and most have made increases. The Skipton Building Society have some very competitive rates and are now offering a two year fix at 2.89% for borrowers with 40% deposit, or a five year fix at 3.98% for those with 30% deposit. Both mortgages have £995 arrangement fees and offer a free property valuation and legal service if you remortgage to them. Trinity Financial have access to tracker rates starting at 2.48%.
The Woolwich have also made changes to their mortgages. They offer home buyers a term tracker rate at 2.68% if they have a deposit of 30% - the arrangement fee is £999 and the maximum loan is £1 million. For those with a 20% deposit, the rate is higher at 3.48%.  Woolwich allow their customers on tracker rates to switch in to a fixed rate at any time and this is a key feature of their mortgages. This protects customers from future base rate increases and is popular with many of our clients.
Aaron Strutt, a broker at Trinity Financial Group, said: "Many lenders increased the cost of their lowest fixes this week but there are still some excellent mortgages available. NatWest have a five year fix at 3.95% and they will pay the legal and valuation fees when you switch to them. We are starting to see some increases and it will be interesting to see if they go much higher."
January 8, 2011
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