9
Dec
Mortgage rates 'see biggest weekly fall since start of 2009'
Mortgage rates across the board have tumbled marking their most
substantial weekly fall since the beginning of the year, according
to moneyfacts.co.uk.
The consumer website pointed out that the average two-year fixed
rate fell to 4.86 per cent at the beginning of December.
Lenders including Abbey, Yorkshire Building Society and Scottish
Widows are among those to cut their rates.
It was the Post Office that slashed rates furthest however, cutting
some by up to 1.30 per cent.
Michelle Slade, spokesperson for moneyfacts.co.uk, said: "Lenders
finally appear to be putting the 'open for business' sign back in
the window and bringing competition back to the mortgage
market."
In other positive news for homeowners, the Post Office announced
that it will be offering its contents insurance customers an
additional ten per cent cover over the festive period.
Certain customers will also be eligible to receive a £25 fuel
voucher or cash-back, the financial services company added.
