Mortgage Strategy - Barclays and HSBC join in with rate cuts
Barclays and HSBC have joined numerous lenders to cut rates this week. Barclays is lowering prices by up to 19 basis points, launching new products but also increasing rates on some deals by up to 11bps tomorrow. Some of the most notable changes are to residential remortgage-only products.
Earlier today, NatWest, TSB and Accord announced rate cuts.
Trinity Financial product and communications director Aaron Strutt says: “After a week of very few rate changes a selection of lenders have announced pricing improvements at pretty much the same time.
NatWest is cutting rates by up to 19bps, TSB by up to 35bps and Accord by up to 45bps in the latest wave of lender repricing.
“Barclays is launching a two-year tracker at 3.96% matching Halifax’s best buy product as the bank looks to attract more of the rapidly increasing number of borrowers keen to take variable rates, while also improving a few of its other fixed rates.”
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The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.
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