Barclays, Clydesdale and HSBC are the latest mortgage lenders to lower fixed rates following base rate rise
Barclays, Clydesdale and HSBC are the latest banking giants to lower their mortgage rates after the Bank of England base rate rise.
Barclays for Intermediaries has lowered its two and five-year fixes by up to 0.47% and increased the cash-back to £350 when borrowers use their own solicitors.
Clydesdale Bank has lowered its residential mortgages by up to 0.6% and its buy-to-let mortgages by up to 0.5%. While HSBC for Intermediaries has reduced selected fixed rates in its residential range by up to 0.15%, and it has a sub-4% five-year fixed remortgage rate.
Aaron Strutt, product director at Trinity Financial, says: "The lenders know they need to make their mortgages more attractive as well as easing parts of their acceptance criteria.
"Most lenders have been lowering their longer-term rates, but Barclays is pushing its two-year fixes. The lender's new two-year fix is priced at just over 4% and is available for borrowers with a 40% deposit. Barclays rate has a maximum loan size of £2 million, and there is a £999 arrangement fee."
MPowered Mortgages has improved its large loan three-year fix rates. They have a minimum loan size of £200,000 with a maximum loan of £1.5 million.
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The information contained within this article was correct at the time of publication but is subject to change.
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