Financial Times - Lenders cut mortgage rates despite latest BoE rate rise
UK lenders have cut the cost of mortgages, offering hope for the housing market in a week when the Bank of England hiked rates to their highest level in 15 years and house prices fell the most since 2009.
NatWest, Halifax and Virgin Money have all cut rates this week — by as much as 0.41 per cent in some cases. That action followed cuts by Nationwide, Barclays, TSB and HSBC last week. Santander and Coventry Building Society also announced reductions.
Aaron Strutt, director at broker Trinity Financial, told the Financial Times: “We are starting to see more of the lenders reducing rates.”
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