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Derbyshire cuts rates on fixed mortgages

Derbyshire Building Society is cutting the rates on its three-year and five-year fixed mortgages.

It believes the reductions will attract borrowers wanting to know that their monthly outgoings will be manageable, whatever happens to interest rates.

The lowest rate is 4.89 per cent for three years, down from 5.49 per cent, with a loan to value of 80 per cent. On a threeyear fix with an LTV of 90-95 per cent, the rate has been cut from 6.09 per cent to 5.59 per cent .

Derbyshire pays intermediaries who are members of networks and mortgage clubs a procuration fee of 0.3 per cent while non-network intermediaries get 0.2 per cent.

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