"I think normally we would expect the housing market to slow down as we move from autumn into winter, but I am not sure that will happen this year."
The 0.83% rate is available on a two-year variable discounted mortgage with a LTV of 60% - a rate reduction of 0.25%.
The Cumberland also has a 0.88% rate available for a two-year fixed mortgage with the same LTV.
Elsewhere in the range, a two-year fixed rate has been reduced by 53bps to 1.78% at 85% LTV. The same LTV for a two-year discounted mortgage now has a rate of 1.73% after a reduction of 0.75%.
Lewis Benson, area manager at The Cumberland, commented: “I have spoken to colleagues who have been a lot longer than my 15 years with the company and we can’t remember rates as low as this. We change our rates all the time because as a mutual organisation we are always trying to get the best deal for our members.
“And I can’t emphasise enough how brilliant these rates are. This is a really good time for anybody who has a mortgage to spend some time with a mortgage adviser and see if you can get a better deal.
“I think normally we would expect the housing market to slow down as we move from autumn into winter, but I am not sure that will happen this year.
“There is still pent-up demand because there is less housing stock in the market. So, as houses continue to come on to the market people respond quickly and I think we will have a very good six months."
