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Is Competition Returning to the Mortgage Market?

This month, Northern Rock (the state-owned lender) introduced new, more competitive deals on three separate occasions.

As well as cutting rates on a number of fixed rate and tracker mortgages, the Rock launched a new deal for borrowers with smaller deposits of just 20%.

Tony Rice, of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone, said: "Woolwich, the Nationwide and Cheltenham & Gloucester have also all been busy this month trying to win new customers by cutting the cost of deals. If this marks the beginning of more competition in the market place it can only be good news for those customers willing to shop around for the best deal."

[ 29-10-2009 ]

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