The i - Barclays and Halifax cut mortgage rates as banks fight for customers

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Barclays and Halifax have become the latest major lender to cut mortgage rates, with experts saying businesses are in a battle to attract a small pool of customers.

Aaron Strutt, product director at brokerage Trinity Financial, added: “With predictions of 10,000 fewer property transactions in 2026 compared to 2025 and 1.8 million borrowers coming to the end of their fixed rates, competition between the lenders to issue more mortgages is likely to be even stronger this year.

“We can expect to see some more criteria easing and hopefully even cheaper fixed rates. All these price cuts so early in the year are good news for borrowers, especially those keen to get on the property ladder or remortgage.”

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