Friday, 30 September 2011

The cheapest home loans on record... if you can get one | Mail Online

The cheapest home loans on record... if you can get one | Mail Online

Lenders are handing out the cheapest mortgage deals since records began, official figures revealed yesterday.
The rock-bottom rates mean homeowners are saving around £500 a year on a typical £145,000 loan compared with what they would have paid two years ago, with monthly repayments dropping from £772 to £730.
The figures, from the Bank of England, show the average loan rate is 3.55 per cent. In March 2009, when the base rate was cut to 0.5 per cent, the average rate was 4.08 per cent.

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