The Times - Mortgage rates below 4% with new Nationwide deal
Fixed mortgage rates have fallen below 4 per cent for the first time since mid-February as a price war between banks hots up. Nationwide Building Society has released a 3.99 per cent five-year fix for homebuyers and reduced fixed deals by up to 0.25 percentage points.
“Banks have been gradually lowering their rates for a while and so rates are much better value for money than they were,” said Aaron Strutt from Trinity Financial told The Times.
“Lenders are still trying to stimulate the property market and that’s why they have cheaper purchase rates,” said Strutt. “Plus these rate reductions mean that many homeowners are not facing such large repayment shocks.”
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