At least ten lenders lower mortgage rates in a week
At least ten mortgage lenders have improved their rates over the last week as they look to make a positive start to the year.
Clydesdale Bank, HSBC, NatWest, Tesco Bank and Santander are some of the biggest lenders to lower rates typically between 0.1% and 0.3%.
Adverse credit lender Magellan Home Loans made one of the biggest changes the market has seen in recent times by lowering one rate by 2.5%.
Aaron Strutt, product director at Trinity Financial, says: "Many of the banks and building societies have increased their lending targets for this year and they have ambitious plans. One of our contacts at a large bank said it had increased its overall lending target by £2 billion.
"Super-cheap mortgages are still readily available with at least 11 lenders offering sub-1.60% two-year fixes and 13 lenders providing five-year fixes below 2%."
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