Mortgage lenders still cutting the cost of their best buy rates
Mortgage lenders are still lowering the cost of their cheapest ever mortgages as they continue to fight to attract new borrowers.
Over the last few weeks some of the biggest lenders including HSBC, Barclays, Santander, NatWest and Halifax have lowered the cost of their mortgages for those purchasing a property or remortgaging.
Aaron Strutt, product director at Trinity Financial, says: “HSBC and Barclays have both launched some great sub-1.6% rates five-year fixes. The cheapest two-year fix is below 1.25% for borrowers with a 40% deposit.
“One bank recently considered offering five-year fixes at a cheaper rate than its two-year deals because the cost of funding these rates was so low. This is almost unheard of in the mortgage market.”
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