www.independent.co.uk
Several lenders have announced mortgage rate cuts in recent weeks, driven by falling swap rates and anticipation of a potential Bank of England base rate reduction. These reductions range from fixed-rate deals across various loan-to-value (LTV) brackets, particularly targeting deposits of 5%, 10%, and 15%. Major lenders including Halifax, Virgin Money, and Clydesdale Bank have led these cuts, lowering rates by anything from 0.05% to 0.3%. Experts suggest that while cheaper fixed rates are emerging, they may not last long if inflation data forces a reversal. These cuts, alongside growing competition, are improving affordability for borrowers, though fees and strict criteria remain factors.
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