FT Adviser - Lenders cut rates by 0.5 percentage points as market stabilises
Mortgage lenders are cutting their interest rates this week, some by as much as 0.50 percentage points, as gilt yields, swap rates and the price of natural gas all begin to trend down.
There are 3,056 products on mortgage lenders’ shelves today, compared with 2,273 the week after Truss’s fiscal announcement, according to Moneyfacts.
Product Director at Trinity Financial, Aaron Strutt, noted a trend in the types of products enjoying rate reductions. “It seems like more lenders are offering tracker rates and discounted variable rates.”
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