‘Positive signal’ as more mortgage lenders join this week’s rate cuts flurry
The lender will cut fixed rates by up to 0.25 points and offer first-time buyers £500 cashback as competition intensifies.
- Nationwide Building Society, Britain's largest building society, cut rates across its fixed mortgage range for first-time buyers and home movers effective Friday.
- Following the building society's move, HSBC, Santander, First Direct, Barclays, and Skipton Building Society also reduced rates this week, with HSBC lowering five-year mortgages for first-time buyers with 15% deposits to 5.04%.
- Easing swap rates, which lenders use to price mortgages, have driven these repricing efforts, though typical fixed mortgage rates remain elevated compared to the start of March according to Moneyfacts.
- Rachel Springall, a finance expert at Moneyfactscompare.co.uk, called the rate cuts a "positive signal" for borrowers, though she noted uncertainty about future cuts.
- Borrowers navigating the "mortgage maze" should seek broker advice as lenders continue to compete for business and adjust pricing to reflect fluctuating swap rates.
13 Articles
13 Articles
Evening Standard
The Independent‘Positive signal’ as more mortgage lenders join this week’s rate cuts flurry
Nationwide Building Society is poised to reduce mortgage rates from Friday, with many other banks and building societies cutting rates this week.
Nationwide update from Friday could give Brits cash boost
Friday will see an update from the Nationwide Building Society Britain’s largest building society has unveiled a fresh overhaul for borrowers. It says reductions are taking effect from Friday that could save hundreds of pounds. Nationwide Building Society confirmed it is slashing rates by up to 0.25 percentage points across a broad selection of fixed deals for both first-time buyers and home movers. The change means its lowest rate now drops to …
Nationwide cuts mortgage rates: Are there more reductions ahead?
Nationwide has become the latest mortgage lender to cut its rates, going ‘one step further’ than its competitors with its new offerings. The post Nationwide cuts mortgage rates: Are there more reductions ahead? appeared first on what MORTGAGE.
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