Barclays, Coventry and Skipton announce mortgage pricing improvements

by Aaron Strutt

Jul 26 2023

Barclays for Intermediaries, Coventry Building Society and Skipton for Intermediaries are the latest larger mortgage lenders to announce rate reductions.

Barclays is lowering its two-year residential property purchase rates and five-year fixed remortgage rates by 0.15%. Applicants will need a 40% deposit to access these lower rates and they are available for mortgages between £5,000 and £2 million.  

Skipton is lowering the price of its entire mortgage range, including its no-deposit Track Record product. The building society is also reintroducing its fixed Residential Existing Customer Only range.

Coventry for Intermediares is lowering all two and five-year fixed residential, buy-to-let and Portfolio Landlord buy-to-let rates. While MPowered Mortgages has launched a competitively priced three-year fix. The lender reduced some of its rates by up to 0.4%. 

Anthony Emmerson, director at Trinity Financial, says: "The price improvements are down a reduction in funding costs and the drop in mortgage applications. The lenders are working harder to sustain their lending levels, but if the Bank of England base rate increases next week, then rates could go up again."

HSBC lowers its fixed and tracker mortgage rates

HSBC has lowered its fixed rates mortgages by up to 0.25%, and its tracker's rates have been reduced by up to 0.35%. HSBC's most competitively priced rates are the five-year fixes and two-year trackers, the two and three-year fixes are priced around six per cent. HSBC offers mortgages of up to £5 million on its standard products. 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

The information contained within was correct at the time of publication but is subject to change.

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