From today, the lender will cut fixed rates by up to 0.20 percentage points, with rates starting from 3.69 per cent. A new tracker range will be introduced tomorrow with rates from 3.39 per cent; 0.30 percentage points lower.
Stephen Noakes, C&G marketing director, said; "We've reached a stage where mortgage rates are now well below their ten year average of 5.84 per cent. Long term fixed rates are an increasingly attractive option for homeowners who want to take full advantage by locking in at the bottom of the market."
Lloyds TSB and C&G offer a 10 year fixed rate deal starting from 4.99 per cent with a £995 fee.
The lender's standard variable mortgage rate will reduce to 3.5 per cent on February 1st. All existing tracker and variable rate customers will benefit from yesterday's base rate cut in full.
