The Sunday Times - Lenders won't follow HSBC
BRITAIN’S biggest mortgage lenders have no plans to cut rates to match HSBC’s 1.99% deal for homebuyers, dashing hopes the move will kickstart the market, The Sunday Times has learnt.
Halifax and Nationwide are also unlikely to cut rates. Aaron Strutt of Trinity Financial, a broker, said: “Halifax and Nationwide don’t seem to be particularly worried about HSBC’s new rates as they aren’t going for massive market share.
“They also know that many of the inquiries that go to HSBC will not complete as many borrowers will not pass its strict lending criteria.”
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