Barclays and Virgin mortgage deals just became more affordable.
The good news for many home-owners is the announcement that both Barclays and Virgin mortgage rates are to be cut. The two lenders are reducing their fixed mortgage rates by 0.2%, and with negative eurozone news filling the press this positive announcement is welcome.
Mortgage costs are predicted to rise over the summer months and lending criteria is forecast to further tighten, which could make sourcing a competitive deal without expert guidance tougher than ever.
However despite these predictions two major high street lenders have cut rates across their mortgage range.
Virgin mortgage rates have been cut for both 2 year fixes and buy to let, and as well as its cutting rates Barclays has also launched two new deals for property purchase in excess of £500,000.
Both lenders have recently increased their rates and these latest rate reductions could well be seen as further proof of how lenders constantly adjust rates to control mortgage supply and customer demand.
Andy Gray who is Barclays head of mortgages has said this is not the case. Barclays cutting its mortgage rates is about giving both would-be buyers and existing home-owners the right mortgage to help them secure affordable monthly repayments.
If you are looking for a Barclays or Virgin mortgage deal contact Deal Direct.
We will source a competitive mortgage offer for you.
