The Times - Mortgage rates cut by UK’s biggest lenders as price war heats up
The Times reports Britain’s largest mortgage lenders have cut mortgage rates this year to below 4 per cent as competition between banks delivers further good news for homeowners.
Barclays and Santander became the latest banks to make big rate reductions, cutting the cost of fixed-rate deals on Wednesday by up to 0.82 percentage points.
Aaron Strutt from the mortgage broker Trinity Financial told The Times: “The phone is definitely ringing a lot more, with people telling us they are keen to start their property search. Buyers want to know how much they can borrow and how much their mortgage repayments will be if they move home.
“Mortgage rates were simply too high and they needed to come down before many would even consider buying a property.”
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