As the world’s eyes are diverted from the on-going banking and financial issues and redirected to the biggest sporting event in the world, it makes you wonder how much business will be lost due to people sneaking off and watching the Olympics! I’m sure I’m overdue a sick day or two!
Competition is also taking place in the mortgage finance arena as we witness some rate wars taking place, which can only be a good thing for the end consumer.
In the first charge arena, we have seen HSBC promote a sub 3% rate fixed for 5 years. Santander quickly followed and, through brokers, also offered a free valuation and free legals on their 3 year sub 3% fixed re-mortgage product. Natwest have also joined the front runners and launched a sub 3% fixed for 5 years, through the intermediary sector. All subject to terms and conditions and individual circumstances, etc! Others cutting rates include Accord Mortgages by up to 0.6%, Nationwide by up to 0.4% and Halifax by up to 0.5%. Great to see! Definitely worth a review with someone who can access the whole of market, if you’re looking to change your mortgage.