SPF News
23 November 2009
Mortgage brokers have access to some of the cheapest mortgage rates on the market once more as several lenders backtrack on their policy of dual pricing.
Instead of offering cheaper deals to borrowers who approach them direct, in recent weeks some lenders have started offering their best rates through brokers.
Lenders that have traditionally favoured brokers, such as Northern Rock, are leading the charge with a range of competitive fixed and tracker rates. Alliance & Leicester is also offering a base-rate tracker priced at 2.39 per cent above base rate, giving a pay rate of 2.89 per cent for the lifetime of the loan. This is only available via brokers for borrowers with a 30 per cent deposit with a £495 fee.
For those looking for a fixed rate, Savills Private Finance is offering an exclusive two-year deal from Royal Bank of Scotland, fixed at 3.19 per cent. There is a £2,499 fee and borrowers require a 40 per cent deposit. The maximum loan size is £2m so it is a very competitive rate for those looking for a larger loan.
Savills Private Finance 0870 900 7762