HSBC, Halifax, Clydesdale and Barclays lower mortgage rates ahead of potential base rate cut
Some of the biggest lenders have been improving their mortgage rates ahead of a potential Bank of England base rate reduction on Thursday.
Halifax is lowering the price of many of its mortgage rates by up to 0.30%, although the bank is raising its 1.5-year fixed rates. Barclays has reduced rates by up to 0.25%, while Clydesdale Bank is also lowering some rates by up to 0.24%
Halifax's biggest reductions are to its existing customer product transfer and further advance rates, which will drop by up to 0.30% tomorrow. Its first-time buyer and home mover deals will also fall by 0.11%, but the lender is increasing rates on 1.5-year remortgage deals by up to 0.07%.
Meanwhile, Barclays has reduced rates on scores of residential deals for both purchase and remortgage today. Among the biggest price drops, the 85% loan-to-value two-year fixed rate for purchases has come down by 0.25% to just below 4.80%, and it has a £899 fee.
Clydesdale Bank is also lowering selected two and five-year Large Loan and Interest Only residential rates will be reduced by up to 0.28%.
At Leeds Building Society, new first-time buyer products will be introduced tomorrow and selected residential fixed rates will be reduced by up to 0.15%.
Aaron Strutt, product director at Trinity Financial, says: “The Bank of England base rate may come down on Thursday (6th February), and if it does, we could see fixed rate come down a bit. The most competitively priced two-year fixes are priced around 4.25%, and five-year fixes are edging closer to 4%.
"HSBC has also announced that it is lowering many of its new mortgage business rates, but putting up many of the rates available to existing customers on Thursday 6th February."
Call Trinity Financial on 020 7016 0790 to confirm how much you can borrow and the most competitively priced rates. You can also book a consultation or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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