Three more big lenders lower mortgage rates

Three more big high-street banks have announced they have cut mortgage rates as loan costs continue to drift downward.

NatWest for Intermediaries has lowered a number of mortgage products by up to 0.23 percentage points, and TSB has cut deals by up to 0.15 percentage points, having already lowered rates at the start of the week. Halifax, the UK’s largest mortgage lender, has also lowered rates by up to 0.17%.

According to the latest forecasts, these mortgage rate cuts come despite the Bank of England now being deemed more likely to make its first base rate cut in September rather than August.

Aaron Strutt, product director at Trinity Financial, says: “NatWest’s new mortgages are competitively priced although they are still marginally higher than Barclays leading rates.

"It is now possible to lock in for five years below 4.1% and below 4.5% if you want a two-year fix. You will typically need a larger deposit to access the cheapest deals.”

“Before NatWest, Halifax, and TSB lowered their rates, Barclays, Halifax, Nationwide, HSBC and Santander, among many others, have also made recent price reductions. Sometimes these banks have lowered them more than once.”

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

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