Cheshire Building Society reduces rates

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The Cheshire Building Society has reduced the rates on a range of its mortgage products.

It has been revealed that rates on two, three, five and ten-year year fixed rate deals have been cut by the lender, along with those on two-year remortgage and buy-to-let mortgages.

James Taylor, mortgage product manager at the Cheshire Building Society, said the organisation had made the move to provide "real value" to its members and borrowers.

He added that the business was "committed" to help consumers find good deals in difficult times.

"At the moment, it is cheaper to fund fixed rate mortgages over the long-term, so we are looking at a return to long-term fixed rate mortgages, from 15 to 25 years, as we believe they will offer great value and be in greater demand than previously," he explained.

Skipton Building Society also recently launched two new fixed rate mortgage products.

The five-year products feature rates that either increase or decrease over the term.

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