The Cambridge cuts mortgage rates

Jake Carter

February 1, 2021

cut rates rate

The Cambridge has reduced mortgage product rates and enhanced its low deposit range.

A 5-year fix is now available from 3.49%, and a 2-year fix from 3.39%. Both offerings include a £199 application fee and an £800 completion fee.

In addition, a 2-year discount product is accessible from 2.89%; this offering also includes a £199 application fee, but has no completion fee.

The Cambridge outlined that its enhanced low deposit range aims to help first-time buyers as well as those seeking to move home with smaller deposits.

According to the lender, average house prices have increased by 7.5% and in Cambridgeshire.

Kathy Bowes, mortgage manager at The Cambridge, said: “The housing market has remained reassuringly buoyant and busy, whilst this is great for us and our intermediary partners, we recognise it makes it more difficult for people to get on the housing ladder.

“Our enhanced range for those who have a 10% deposit is yet another way The Cambridge are striving to support both First Time Buyers and those looking to move.”

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