Royal Bank of Scotland Cuts Fixed Mortgage Rates

Royal Bank of Scotland (RBS) Intermediary Partners has announced reductions on its interest rate on its select two-year fixed rate mortgage deals.

If you have 25 percent deposit or 75 percent Loan to Value (LTV), First Active have reduced their online only product 2-year fixed from 5.55 percent to 5.20 percent with a £999 arrangement fee until January 31, 2011. The long term rate is 4.29 percent.

RBS Intermediary Partners said for a standard residential remortgage it will not charge a valuation fee or basic legal costs. RBS IP also added that the lender would accept up to 10 percent overpayments of the original balance per year, during the initial deal period.

If you have a larger deposit of 40 percent, you could take advantage of the reduction in the RBS IP two-year fixed from 4.99 percent lowered to 4.89 percent, this mortgage product also holds a £999 arrangement fee until January 31 2011.

Source: mortgagestratergy