Barclays and Santander make big mortgage pricing improvements as The Co-operative Bank lowers some rates by 1.26%
Mortgage lenders have had a busy start to 2024 and have made significant rate improvements.
Barclays for Intermediaries has just announced it is lowering its mortgage rates by up to 0.5% while launching a sub 4.2% two-year fix. Santander is also improving rates by up to 0.82%, and it will offer sub-4% five-year fixes when its new mortgages are launched tomorrow (10th January).
The Co-operative Bank for Intermediaries has lowered some of its mortgages by up to a whopping 1.26%. The bank has a sub-4% five-year fix for borrowers looking for £750,000+ mortgages. The Co-op has some competitively priced two-year fixes for borrowers looking for shorter-term deals.
More lenders carrying on rate changes from last week
HSBC was the first of the ‘big six' lenders to bring back sub-4% mortgages while lowering 240 of its rates. The lender launched a five-year and ten-year fix for remortgages below 4%.
Halifax for Intermediaries initially kicked off the rate war last week by making its mortgages up to 0.83% cheaper, while NatWest improved some mortgages by up to 0.40%. TSB boosted the first-time buyer and home mover markets by cutting some rates by 0.55%.
Aaron Strutt of Trinity Financial, says: "We are speaking to more potential buyers who want to know how much they can borrow and how much their mortgage repayments will be if they move home.
"Mortgage rates were simply too high and they needed to come down before many would even consider buying a property.
"Most of the big lenders have lowered their rates now and the lowest rates are much more attractive than they were."
Call Trinity Financial on 020 7016 0790 to secure a mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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