Lower mortgage rates for small deposits

Homebuyers with smaller deposits are being offered mortgage rates at record lows after a spate of cuts by lenders. Interest rates on mortgages for borrowers with a 5% deposit have dropped as lenders compete for new business. Post Office has launched a two-year fixed-rate deal at 3.06% with no fees and a free valuation - the lowest fee-free deal on the market, whilst Virgin Money cut its two-year rate to 3.09%. TSB also announced reductions, cutting the rate on its two-year deal to 3.29%.

The Sunday Times (25/11/2018)