Mortgage lenders continue to lower rates despite economic issues

by Aaron Strutt

Jan 17 2024

Mortgage rates are continuing to fall despite concerns about problems in the Red Sea and slightly higher inflation figures.

Santander is the latest big bank to announce it is lowering its fixed mortgages by up to 0.45%, while TSB has lowered rates by up to 0.7%.

Halifax has improved its rates by up to 0.15%, and Market Harborough Building Society is also offering rates that are 0.5% cheaper. HSBC has made two sets of rate changes in quick succession, and NatWest lowered some rates on Tuesday. Metro Bank also announced price reductions.

Aaron Strutt, product director at Trinity Financial, says: “Inflation rose marginally to 4% in December, up from 3.9% in November although lenders do not seem to be bothered at the moment.

"There have been a huge amount of rate changes over the last few days, not just from the big lenders but also from the smaller banks and building societies. Whenever we think rates are likely to stabilise and will not come down any more, we get another email saying prices are improving. The rate changes keep coming.”

Over the last few days, the following lenders have announced rate reductions:

• Bluestone Mortgages
• Coventry for Intermediaries
• Santander
• Halifax
• HSBC
• Hinckley & Rugby Building Society
• Leeds Building Society
• Lloyds Bank
• MPowered 
• NatWest
• Metro Bank
• Principality Building Society
• Suffolk for Intermediares
• Skipton for Intermediaries 
• TSB for Intermediaries
• Buckingham Building Society

The following lenders have lowered their buy-to-let rates:

• Birmingham Midshires
• Halifax for Intermediares
• Leeds Building Society
• Paragon
• The Mortgage Works
• Buckingham Building Society 
• Leek Building Society

Call Trinity Financial on 020 7016 0790 to secure a  mortgage, 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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