Large loan mortgage rates reduced

by Aaron Strutt

Feb 04 2011

There have been a number of rate reductions as lenders compete to attract mortgages over £1 million.

Abbey have a made changes to their   rates available up to £2 million and Halifax have also lowered fixes by up to 0.3%, also on their £2 million range.

Aaron Strutt, a broker at Trinity Financial, said: "It has been an interesting week. Many of the banks have continued to raise rates, although we have seen more lenders lower their large mortgage offerings on the back of Abbey's changes. The Mortgage Works have launched some very low fixes starting at 2.15%, although they do have some big fees.

"Paragon have updated their buy to let rates and many arrangement fees have been lowered and capped at £2000. There's a selection of fixed and LIBOR trackers that Trinity Financial can access."

February 4, 2011