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Housing Today
Trusted media brand of the Chartered Institute of Housing
Major lenders cut mortgage rates
Halifax, HSBC, Nationwide and TSB rate cuts further evidence that mortgage rates peaked in late July
Four of the UK’s largest mortgage providers have announced cuts to their mortgage products signalling mortgage rates may have peaked.
Halifax, the country’s biggest lender, will reduce rates by up to 0.71 percentage points from Friday, bringing its five-year fixed deal down from from 6.10% to 5.39% .
Nationwide its rates by 0.55%, TSB cut 5-year fixed residential mortgages by up to 0.4 per cent (starting at 5.44%), while HSBC today announced cuts of up to 0.35% on some two, three and five-year fixed rate products.
Nationwide, TSB and HSBC all announced cuts, quickly followed by Halifax whose new rates will come into effect from Friday.
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