Financial Times - Halifax and Virgin Money cut mortgage rates as inflation outlook improves
The Financial Times reports that two large UK lenders cut the costs of home loans on Tuesday as mortgage rates continued to fall on the back of an improved outlook for inflation.
The moves by Halifax and Virgin Money followed cuts by Nationwide, Barclays, TSB and HSBC last week, offering further relief to homeowners who are still facing higher borrowing costs than in the wake of last year’s “mini” Budget.
Aaron Strutt, director at Trinity Financial told the Financial Times: “More banks and building societies have been lowering their rates in recent weeks as they try to attract more borrowers.
“We are starting to see acceptance criteria changes to make it easier to get mortgages and even the return of lower rates being offered for a week to tempt borrowers to take action.”
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