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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
Cheltenham & Gloucester announce further rate cuts
Cheltenham & Gloucester, part of the Lloyds TSB Group, has announced that from today it is reducing rates on its two year fixed rate products.
C&G said that mainstream two year fixed rate products will be reduced by up to 0.12 per cent, with the lowest two year fixed rate available being 4.99 per cent, on house purchases and remortgages up to 75 per cent LTV. Also being cut is the 90 per cent two year fixed product, which will be reduced by 0.12 per cent to 6.13 per cent.
Commenting, Stephen Noakes, director of marketing at Cheltenham & Gloucester said: "Over the last month there have been consistent improvements in funding costs, which we have been able to pass on to customers. Hopefully today's announcement should help bring back some much needed confidence to consumers looking for a mortgage."
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