Mortgage Strategy - Brexit price-cutting could push fixes down to 0.95%
Brexit uncertainty, low swap rates and potential base rate drops have caused a wave of price-cutting by mortgage lenders. Mortgage Strategy magazine reports two-year fixes may soon be as low as 0.95 per cent.
Trinity product manager Aaron Strutt says the rate cuts are the result of a combination of deliberate drive for market share and wider macroeconomic factors.
He says: “The swap rates seem to be falling quite rapidly. On that basis we could see a few good deals coming in. The prospect of a Bank of England base rate rise, which some were predicting for the end of this year, seems further away than ever. So on that basis lenders will be keen to get more business in.”