Mortgage Strategy - TSB cuts rates by up to 80bps as HSBC’s lower prices kick in

TSB is the latest mainstream lender to announce price cuts this week, with rates set to fall by up to 80 basis points on Friday, while HSBC’s reductions of up to 25 basis points take effect today. Yesterday, Santander announced rate cuts of up to 25bps, which also kicked in today.

Trinity Financial product and communications director Aaron Strutt says: “The price reductions are still coming through, but they may not last much longer. “The cost of funding mortgages has gone up again and there are strong suspicions that these new lower priced fixed-rate may well get pulled quite quickly.

“If you are on the hunt for a mortgage and holding off because you think rates are on the way down, I would think again. Try to get a rate booked if you are buying somewhere or your remortgage is due over the next four or five months.”

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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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