The Telegraph - HSBC first major lender to cut mortgage rates
HSBC is the first high-street bank to cut mortgage rates after better-than-expected inflation figures last week. The bank said rates across 16 mortgage deals would fall from Wednesday, while smaller lenders also announced reductions.
Aaron Strutt, of broker Trinity Financial, told The Telegraph it was a “positive sign” but there was still “a lot of uncertainty” in the market.
He said: “This will give more hope to borrowers that mortgage rates might start coming down a bit rather than just going up. But we’re not seeing all of the lenders lower their rates at the moment.”
Another broker told The Telegraph: “This is significant because it’s HSBC. They are generally competitive in the market and that will force others to think about whether they need to follow suit.”
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