The new rates are effective from tomorrow (Wednesday 13 August), when all two-year fixed rates are reduced by 0.35% (35 basis points) and all three-year fixed rates by 0.30% (30 basis points).
The rate reductions apply to all risk categories of the specialist lender’s current range, from near prime to medium adverse products.
Martin Gilsenan, Money Partners’ sales director, said: “As a lender with a keen appetite to lend, we are keeping a close eye on pricing movements in the wholesale money markets. While they remain volatile, the trend in recent weeks has moved in our favour. In particular, swap rates, which determine our fixed rate prices, have come off their recent high peaks. We have therefore moved quickly to pass on the benefit to our introducer partners, many of whom remain under considerable pressure in the current difficult trading environment.”
