The Standard - Hope for first time buyers as Nationwide and HSBC push through mortgage rate cuts
A new mortgage price war has broken out giving a boost to home owners and first time buyers.
Major lenders are competing with cuts to their fixed rate mortgage deals to grab a share of a sluggish market.
Aaron Strutt of brokers Trinity Financial said: “Nationwide is not messing about with its new market leading two-year fix at 3.5% and 3.70% five-year fix for home movers with 40% deposits.
“We expected to start this year with the lenders cutting their rates and making them more attractive to borrowers and that’s exactly what is happening. Santander recently put its rates up and I suspect they will come down again soon."
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