Article: Lenders cut two-year fixed rates.

Article from:
Daily Mail (London)
Article date:
October 17, 2007
Copyright

FOUR lenders have slashed their twoyear fixed mortgage rates this month.

Abbey has cut the rate for new borrowers from 5.69pc to 5.59pc plus anarrangement fee of [pounds sterling]1,499; Cheshire 5.54 pc to 5.39 pc ([pounds sterling]1,499); HSBC 6.09 pcto 5.99 pc ([pounds sterling]999); and Nationwide 5.78 pc to 5.72 pc ([pounds sterling]999).

So if you took out a [pounds sterling]130,000 fixed-rate mortgage with Cheshire last month,you'd face monthly repayments of [pounds sterling]801.42. After the reduction you'll now haveto pay [pounds sterling]789.80. This produces a total cost of [pounds sterling]20,454.20 over two yearscompared to [pounds ...

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