New reduced-rate mortgages announced

Bristol & West Mortgages has lowered the rates on two of its three year fixed mortgages, and introduced a cashback facility.

The mortgage provider has announces reduced rates in both the 75 per cent and 90 per cent LTV bands.

It will offer a three-ear fixed mortgage at 4.99 per cent, reduced from 5.15 per cent, at 75 per cent LTV, and one at 5.79 per cent, reduced from 6.19 per cent, in the 90 per cent LTV band.

It is also providing a one per cent cashback facility on mortgages available at 85 per cent and 90 per cent LTV - designed to aid brokers' clients with the extra costs involved in house buying, such as stamp duty.

Bob Stanworth, a manager at Bristol & West Mortgages said: "With the cashback being paid direct to the solicitor with the advance, it should certainly help fund stamp duty, or solicitors fees, at a time when many need that extra help."