Lenders cutting the cost of Fixed Rate Mortgages

Some high street lenders are cutting the cost of Fixed Rate Mortgages.

Borrowers are finally finding some good fixed rate mortgage deals. Lenders are starting to cut the cost of fixed rate deals over a month after the Bank of England cut the base rate.

The base rate is likely to be cut again in February .The cost of borrowing for Lenders came down and they are now beginning to pass this on to their borrowers.

Some lenders have already cut the price of their fixed rate deals to new borrowers, including First Direct, Leeds, Skipton, Cheltenham and Gloucester, The Post Office, Halifax, and the Woolwich. Others will now follow.

Some experts are advising any one who can afford to take a risk to look at tracker mortgages. These track up and down with the base rate.

Borrowers are advised to consult an expert who will shop around for the best deal available.

NOTE: Do not make any financial decsions based on the information on this page.
Always take professional mortgage advice first

Mortgagefox offers a free mortgage advice service