Barclays, HSBC and NatWest lower mortgage rates again
Barclays, HSBC and NatWest for Intermediaries have lowered their mortgage rates following a reduction in funding costs.
Barclays has improved selected rates across its home purchase and reward ranges by as much as 0.26%. HSBC has also lowered its fixed-rate mortgages by up to 0.45% while launching a new two-year deal for borrowers with a five per cent deposit.
Aaron Strutt, product director at Trinity Financial, says: “Santander made pretty big changes to its mortgage rates last week, so they are much better value for money. The bank launched a sub-4.65% five-year fix for property purchases, and the maximum loan size is £1.5 million.
"Virgin Money for Intermediares also introduced two-year fixes with higher setup fees to provide cheaper pay rates. By charging a higher arrangement fee, the bank reduces the pay rate so borrowers could have lower monthly repayments."
NatWest for Intermediaries has made the following changes to its New Business Rates although its existing customer deals have also been improved. Here is a list of the changes:
- Purchase: Rate reduction of up to 0.26% and 0.27% on selected two and five-year deals.
- Remortgage: Rate reduction of up to 0.17% and 0.20% on selected two and five-year deals.
- First-time buyer: Rate reduction of up to 0.22% and 0.15% on selected two and five-year deals.
- Buy-to-Let - purchase: Rate reduction of up to 0.37% and 0.22% on selected two and five-year deals.
- Buy-to-Let – remortgage: Rate reduction of up to 0.23% and 0.40% on selected two and five-year deals.
- Green - property purchase: Rate reduction of up to 0.23% on selected two and five-year deals.
- Green – remortgage: Rate reduction of up to 0.12% and 0.05% on selected two and five-year deals.
- Buy-to-Let green - property purchase: Rate reduction of up to 0.14% and 0.22% on selected two and five-year deals.
- Buy-to-let green – remortgage: Rate reduction of up to 0.15% and 0.27% on selected two and five-year deals.
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The information contained within was correct at the time of publication but is subject to change
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