Lenders are continuing to cut the cost of their mortgages, following a slew of rate reductions last week.
The Bank of England cut its base rate from 5.25% to 5% last week, in the first rate reduction for over four years.
This led to a rash of rate cuts from Virgin Money, Mansfield Building Society, Santander and Coventry Building Society, among others.
More lenders have since announced they are lowering the cost of their mortgages.
TSB
TSB has announced that it has cut rates across its range.
The lender said its two-, three- and five-year fixed first-time buyer and home mover mortgages up to 80% of the property’s value have been reduced by up to 0.20 percentage points.
The lender’s two-year fixed remortgage up to 75% loan-to-value has been trimmed by 0.05 percentage points.
And the bank’s two- and five-year fixed buy-to-let purchase and remortgage products have also been cut, by up to 0.20 percentage points.
Family Building Society
Family Building Society has reduced rates on a range of its residential fixed rate mortgages.
The mutual has chopped the cost of its core two- and five-year repayment mortgages by 0.10 percentage points.
It’s also reduced its core two- and five-year interest-only mortgages by 0.20 percentage points.
