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Britannia slashes fixed-rate deals
21 November 2008 15:32
Britannia building society has announced that it will be significantly cutting the cost of its fixed-rate mortgage packages.
From today (November 21st), the lender will be offering its fixed-rate deals at 5.49 per cent - a reduction of 55 basis points.
What's more, the 60 per cent loan-to-value products are now available with no arrangement fee and free standard valuations.
Managing director of member business at Britannia, Tim Franklin, said that none of the lender's fixed-rate mortgages had arrangement fees, while some also had free standard valuations, meaning that borrowers could lock in to a good rate for the next ten years.
He added that those coming to the end of their current deal within the next few months did not necessarily have to miss out on these offers, as Britannia could arrange their mortgage now and reserve it until next year.
Recently published statistics from the Council of Mortgage Lenders showed mortgage lending in the UK had increased by seven per cent month-on-month.
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