Nationwide and HSBC announce mortgage rate cuts and new deals for first-time buyers

dailyrecord.co.uk:

mortgage lenders have announced rate cuts to the products they are offering, including for those with smaller deposits such as first-time buyers.

Nationwide Building Society said that from January 13, it will reduce selected two, three, five and 10-year fixed rates and two-year tracker rates.

House purchase and re-mortgage deals are included in the rate reductions, with some cuts being made for borrowers looking for deals with deposits as low as 10 per cent.

Among the reductions, a two-year fixed rate for borrowers with a 25 per cent deposit will fall by 0.40 percentage points to 1.59 per cent with a fee of £999 and a two-year fixed rate for borrowers with a 10 per cent deposit will be reduced by 0.25 percentage points to 3.24 per cent with.