Barclays, Tesco and Atom slash mortgage rates for new borrowers
MORTGAGE borrowers and first-time buyers looking to bag a deal may find that now is a good time to do it as seven major lenders have cut rates this month. Next up is Atom Bank with cuts of up to 0.37 per cent, followed by Accord Mortgages with reductions of up to 0.27 per cent, and Furness Building Society with cuts of up to 0.15 per cent. Decide what kind of mortgage you want: a fixed deal means you’ll know exactly what your mortgage will cost, but if interest rates fall, you won’t see your payments drop. Of course, just because a lender has cut its rates doesn’t mean it’s going to be the best deal for you – you should always compare the overall cost of the mortgage by taking into account both the interest rate and any fees.