CPS Homes

More major lenders expected to cut mortgage rates this week

In fantastic news for prospective homebuyers, a number of prominent UK lenders (such as Lloyds Banking Group, Barclays, Nationwide, and Santander) are expected to slash mortgage rates even further this week. This move aims to generate new business in the property market amidst a challenging landscape for home buyers.

HSBC and NatWest have already made notable reductions in their mortgage rates, demonstrating their commitment to supporting UK homebuyers and those seeking re-mortgage options. HSBC is rolling out rate cuts across several of its new fixed products, including those designed for first-time buyers, home movers and re-mortgagers, effective immediately. This is a very proactive approach – their second rate reduction within a week, alongside criteria changes extending mortgage terms to 40 years.

NatWest is also offering rate reductions of up to 0.35% on select fixed-rate deals, starting today, and Accord Mortgages (affiliated with Yorkshire Building Society) will be trimming all of its fixed rates by 0.2% from this Tuesday.

Industry experts predict that even more rate are on the horizon as lenders follow suit to attract new business. We’re sure that these changes will alleviate some of the affordability issues that buyers are grappling with and improve general market confidence.

Looking for the best mortgage deals available in Cardiff?

As we mentioned recently in our guide to being a stand-out homebuyer, getting the best mortgage product has never been more important. The best way to get the very best deal for you is to speak to an independent broker. They’ll ensure you have access to every product on the market and will talk you through which one is the best fit for your personal circumstances. 

If you need guidance or want to connect with an independent mortgage advisor, feel free to reach out to our friendly sales team on 02920 454555 or email nathan.walker@cpshomes.co.uk.

05 September 2023

    The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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