LONDON (CU)_Over the past few months, some of the biggest lenders in the United Kingdom launched sub-1% mortgage deals for borrowers with large deposits. For instance, last month, HSBC UK announced a two year mortgage deal at 0.94 per cent, the lowest ever rate offered by the bank for home loans. A couple of weeks later, the Nationwide Building Society introduced a new deal at a five-year fixed rate of 0.99 per cent, which is being offered to customers with a heft deposit of 40 per cent.
Accordingly, the Bank of Scotland’s trading division Halifax became the…
