Homeowners were offered further glimmers of hope that pressures in the mortgage market are easing as Lloyds TSB cut its mortgage rates for the fifth time in a month yesterday and Skipton Building Society re-entered the first-time buyer market.

Lloyds, which also operates under the Cheltenham & Gloucester brand, is reducing its two-, three-, five- and seven-year fixed-rate deals by up to 0.11%.

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However, the move only applies to customers with a 25% deposit or more, with rates for those borrowing more than 75% of a property's value remaining unchanged.

Daily Telegraph

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