Homeowners on lenders’ tracker and standard variable rates have been granted another reprieve, with the Bank of England’s Monetary Policy Committee having decided to keep the base rate at 0.5% in March.
The rate has remained unchanged since March 2009, when it was cut to its current historic low.
Meanwhile, research from Moneyfacts.co.uk shows that rates [...]
tracker
Mortgage borrowers granted another base rate reprieve
Tracker rates lowest on record
Rates on tracker mortgages have plummeted, research from Moneyfacts.co.uk claims.
The average rate on a two-year tracker is down to 3.4%, the lowest level since the financial website started monitoring rates in 1988.
According to the data, a number of lenders have reduced rates in the last month, including ING Direct, Nationwide Building Society, Northern Bank, Northern [...]
Barclays ups “Great Escape” LTV to 80%
Barclays is extending the maximum loan-to-value (LTV) ratio on its Woolwich “Great Escape” remortgage deal from 75% to 80%.
For the higher LTV, the lifetime tracker mortgage is available at base rate +3.18%, whereas the 70% and 75% LTV deals remain at base rate +2.38% and base rate +2.58% respectively.
In addition, borrowers can opt for [...]
