The i - Barclays, Halifax and Nationwide cut mortgage rates as sub-5% deals available again
Tags: Press Commentary, The i
Multiple banks have cut their mortgage rates in the past two days, with deals available below 5 per cent for some buyers – despite rates hitting their highest levels in nearly three years this autumn. As oil prices remain high due to the conflict in the Middle East, so have expectations that inflation and interest rates will rise in the next year, with the Bank of England predicted to increase the base rate from 3.75 per cent to 4 per cent on Thursday.
Aaron Strutt, product and communications director at Trinity Financial, added: “We are coming up to the end of the year and lenders want to hit targets at a time when there are currently less buyers about. This means they need to lower rates to attract more borrowers.”
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