The Sunday Telegraph - Britain's lowest ever mortgage rate launches
Mortgage rates have reached a historic low with the launch of a new 0.79pc loan, the lowest ever recorded in Britain.
A rate war has erupted in the mortgage market in recent months with banks repeatedly undercutting each other on price. There are now 140 loans on the market with sub-1pc interest rates, financial analysts Moneyfacts said.
Aaron Strutt of Trinity Financial, a mortgage broker, told The Telegraph the previous lowest rate was offered by Barclays at 0.86pc and suggested rates could fall even further.
“Banks that are already offering loans below 1pc are indicating they could cut a further 0.25 percentage points from their rate,” he said.