"We want to support our customers to keep their monthly payments as low as possible. Our new fixed rate products could help them achieve this."
- Jack Green, mortgage hub manager at the Cumberland
The Cumberland Building Society has reduced interest rates on its fixed rate mortgages by up to 0.50%, with rates now starting from 4.26% for a two-year fixed rate and 3.93% for a five-year fixed rate.
The two and five-year fixes are available for both purchase and remortgage up to 60% LTV.
There is an arrangement fee of £999 for these headline rates, but fee-free options are also available. The arrangement fee does not apply to existing Cumberland mortgage customers coming to the end of their existing deal, which is in line with the Society’s pledge to offer its best terms to existing customers.
As a bonus, the Cumberland provides a free valuation and will normally cover borrowers’ standard legal fees on remortgage loans up to £750,000 for new customers.
Jack Green, mortgage hub manager at the Cumberland Building Society, said: “We’ve come across remortgage customers whose payments have increased by hundreds of pounds or in some cases more than £1,000 a month.
“We want to support our customers to keep their monthly payments as low as possible. Our new fixed rate products could help them achieve this.”
