The Telegraph - HSBC first big bank to offer sub-4pc mortgages as rate war heats up
HSBC has become the first major high street lender to offer a mortgage deal with a rate below 4pc, giving hope to millions of homeowners renegotiating loans this year.
Aaron Strutt, of brokerage Trinity Financial, said the cost of funding for mortgages has dropped “quite significantly” and that lenders are now starting to pass this on in the form of price reductions.
He added: “There is much more of an expectation that rates will get cheaper this year, which will come as a relief for the huge number of borrowers needing to remortgage. It has taken quite a while but rates are looking better.”
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