25
Sep
More mortgage cuts announced
Britannia Building Society has become the latest lender to announce
fresh cuts to its mortgage deals.
The lender has revealed it is to trim the costs of its two and
ten-year fixed rates, following previous changes to its other
fixed-rate deals.
In addition to this, customers are being given the opportunity to
take out mortgages with loan-to-value ratios of as much as 90 per
cent, depending on the deposit size.
Managing director of member business at Britannia Tim Franklin
said: "Last week we introduced a number of cuts to some of our
mortgages, now we have brought the rest of our mortgage range in
line."
The lender also announced that its cuts would apply to buy-to-let
mortgages as well.
Buy-to-let mortgage terms are becoming more favourable, according
to research by insurers Legal & General.
It recently revealed that the average loan-to-value rate for
buy-to-let mortgages rose from 67 per cent to 73 per cent in the
last quarter.
