Accord, Barclays, Halifax and NatWest latest lenders to lower mortgage rates by up to 0.75%

by Aaron Strutt

Nov 10 2022

Mortgage rate activity is taking a more positive turn, with rate reductions becoming more frequent.

NatWest has lowered many of its purchase and remortgage rates by up to 0.75%, while Halifax has improved selected mortgage rates by up to 0.31%.

Accord Mortgages reduced all its fixed-rate buy-to-let mortgages by up to 0.56% and the lender has also introduced buy-to-let five-year fixed rates without early repayment charges.

Leeds Building Society and Cambridge Building Society reduced selected residential rates by as much as 0.55%. Additionally, Bank of Ireland Bespoke, the specialist lender which provides niche mortgages for borrowers with more unusual financial situations is also improving its pricing.

Aaron Strutt, product director at Trinity Financial, says: "We are hopeful that we will get some sub-5% fixes over the next few weeks. A 4.99% five-year fix will seem reasonable to some borrowers given the recent rate hikes.

"As the cost of fixed rates has increased there has been a rise in the popularity of Bank of England tracker and discounted variable rates."

Many lenders have had an incredibly busy year and are not under pressure to undercut their competitors. If the market continues to slow down, they will need to act, which may well be in the form of better rates and improved acceptance criteria.

Call Trinity Financial for expert mortgage advice on 020 7016 0790 or book a consultation