Lloyds TSB and Cheltenham & Gloucester (C&G) have today cut the interest on fixed-rate mortgages by 0.20 per cent.
It means rates for its range of fixed-rate products will now start at 3.69 per cent – a deal which applies for a two-year mortgage for loan-to-values (LTV) of up to 75 per cent.
And the lender is also introducing a new range of tracker mortgages tomorrow with rates starting at 3.39 per cent, which it said are 0.30 per cent lower than previously.
Stephen Noakes, C&G marketing director said: “We’ve reached a stage where mortgage rates are now well below their ten year average of 5.84 per cent.
“Long-term fixed rates are an increasingly attractive option for homeowners who want to take full advantage by locking in at the bottom of the market.”
Lloyds TSB and C&G also have a range of three-year fixed-rate deals which all come with varying fees.
The lender has two ten-year products with rates of 5.59 per cent and 5.29 per cent for LTVs of 75 per cent and 60 per cent respectively. These are both fee-free.
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