In recent news, TSB and Coventry Building Society have announced changes to their fixed-rate mortgage rates. This news is important for anyone considering taking out a mortgage, as it could affect the amount of money they will pay each month.
TSB has announced that it is reducing its two-year fixed-rate mortgage rate from 2.44% to 2.19%, and its five-year fixed-rate mortgage rate from 2.94% to 2.64%. This means that borrowers who take out a two-year fixed-rate mortgage with TSB will pay less each month than they would have previously.
Meanwhile, Coventry Building Society has also announced changes to its fixed-rate mortgage rates. It is reducing its two-year fixed-rate mortgage rate from 2.44% to 2.19%, and its five-year fixed-rate mortgage rate from 3.09% to 2.79%. This means that borrowers who take out a five-year fixed-rate mortgage with Coventry Building Society will pay less each month than they would have previously.
These changes are likely to be welcomed by potential borrowers, as they could help to reduce the amount of money they will have to pay each month on their mortgage. However, it is important to remember that these changes may not be suitable for everyone, and it is important to consider all of the options available before making a decision.
It is also important to remember that these changes are only applicable to fixed-rate mortgages, and not to other types of mortgages such as variable-rate mortgages. Therefore, it is important to consider all of the different types of mortgages available before making a decision.
Overall, the recent changes to fixed-rate mortgage rates announced by TSB and Coventry Building Society are likely to be welcomed by potential borrowers, as they could help to reduce the amount of money they will have to pay each month on their mortgage. However, it is important to remember that these changes may not be suitable for everyone, and it is important to consider all of the options available before making a decision.