Find out which lenders are cutting their rates with mortgage broker, Deal Direct.
As an independent mortgage broker in the UK market, Deal Direct are ideally placed to help you identify which lenders are now cutting their rates instead of increasing them.
The hike in the Base Rate has not meant a blanket rise in mortgage rates from all UK lenders. While the bigger names responded in a similar way by increasing their products’ rates, other lesser known and more niche lenders have responded by announcing reductions instead.
This is good news for borrowers as it means that great-value deals can still be found - if you are prepared to dig a little deeper than what is available on the high street.
Newbury Building Society, for instance, has made reductions to the rates for its residential mortgages. A selection of rates have been reduced by 0.2%. Others, such as its 3-year discounted products for 85% and 95% LTV, have seen a cut of 0.55%, when compared to the previous rates.
Coventry Building Society and Accord are examples of other lenders who have announced new, lower rates or have introduced brand new products to help customers feeling the pinch by paying their lender’s increased standard variable rate.
If you are one of the estimated 4 – 5 million households in the country sitting on an SVR, you could benefit by switching to a lender who is reducing their rates, not increasing them.
To find out which lenders are cutting their rates and offering better value deals than the big names on the high street, come to Deal Direct.
Speak to one of our experts today on 0800 048 8828.
