Fixed Rate Mortgages

Britannia is slashing its fixed-rate mortgage range by up to 65 basis points from Friday (9 January). Rates on each tier of the Society's fixed-rate range are being cut, but the highlights of the new range will be Britannia's five and ten-year fixed rate products with rates ranging from just 4.69%.

NatWest and RBS have announced that they are replacing some of their standard fixed rate mortgages with new deals reduced by up to 0.40%.

Fixed rate mortgages now account for 69% of the market, compared to 51% this time last year. Despite a 2.61 percentage point drop in the two year swap rate between 1 October and today, the average two year fixed rate mortgage has only dropped by 0.71 percentage points.

From Friday 19 December, Abbey is cutting rates by up to 0.6 per cent on its fixed rate mortgages. This follows cuts Abbey already made last week of up to 0.6 per cent on its fixed rates.

The Mortgage Alliance (TMA) has announced it is offering Abbey’s re-priced two-year semi-exclusive fixed rate mortgage.

Britannia has further reduced the cost of some of its fixed-rate mortgages with rates falling by up to 0.60% for borrowers requiring a loan-to-value (LTV) of 80% or less.

Alliance & Leicester is announcing a new portfolio of mortgage products, with fixed rate mortgages being reduced by up to 0.90%.

From Friday 28 November, Abbey is cutting rates by up to 0.45 per cent on all its 5-year fixed rate mortgages at between 60 and 75 per cent LTV.

NatWest and RBS have announced they will be replacing a number of their fixed rate mortgages, with new deals reducing by as much as 0.75%. The new rates will be available from Tuesday 25 November.

Britannia has reduced the cost of its fixed rate mortgage range by up to 55 basis points. Available from Friday 21 November, the highlights of the new range include a five-year fixed rate at 5.49% to 60% LTV with no arrangement fee.

Nationwide Building Society has announced it will be making some changes to its mortgage products, including cutting the price of its two year fixed rate mortgage deals and selected three and five year fixed rate deals by up to 0.80%.

From Friday 21 November, Abbey is cutting rates by up to 0.5 per cent on all its 3-year fixed rate mortgages from 60 to 75 per cent LTV.

The Mortgage Alliance (TMA) has launched a two-year semi-exclusive fixed rate mortgage funded by Abbey for Intermediaries.

Customers with fixed rate mortgages are paying nearly twice the cost to lenders of funding on the money markets, according to moneyfacts.co.uk.

Lloyds TSB and Cheltenham & Gloucester will be the first lender to cut fixed rate mortgage products for new customers following yesterday's Bank of England Base Rate reduction.