Moneyfacts responds to increased mortgage competition

Moneyfacts has responded to the launch of Barclays fee free fixed rate deals.

Rachel McKay, assistant head of mortgages at moneyfacts.co.uk, says: “Barclays has joined an increasing number of high street lenders now offering fixed rate mortgages with no arrangement fee. These new deals certainly look competitive in the current mortgage market as shown in the examples below”

“With little differential between interest rates, lenders are reverting innovative methods to entice new customers and to try and increase their market share of mortgage business.

“These fee free fixed rate deals follow hot on the heels of the recent offer from Scarborough building society who are offering an extensive iMac computer package in an attempt to lure consumers.”