Lots more changes this week as Halifax and TSB lower mortgage rates again although Nationwide raise prices

Aaron Strutt Image

Mortgage lenders have not been frantically making rate changes over the last week, but there has still been a lot of rate movement.  

Halifax and TSB have announced the most significant changes. Halifax is lowering the price of selected two-, three- and five-year fixed-rate products by up to 0.53%.

Halifax is improving selected existing customer two- and five-year fixed rate products reduced by up to 0.46%. The bank's maximum loan has also increased from £1,000,000 to £2,000,000 on selected fixed and tracker remortgage products.

On Thursday, 1 February, TSB will significantly improve its residential range with rate reductions of up to 0.85%. New rates include a five-year fixed first-time buyer and home mover deal, plus cheaper low deposit rates, starting just below 5% with £0 product fee, a free basic valuation and £500 cashback.

From Friday 2 February, the Nationwide Building Society will increase selected rates by up to 0.30%. This includes some rates across our New Business, Additional Borrowing and Existing Customers Moving Home product ranges.

Aaron Strutt, product director at Trinity Financial, says: "The scale of rate changes has slowed, but lots of the lenders are still busy either lowering or increasing their rates. They are still keen to attract borrowers, but the cost of funding mortgages has fluctuated which has led to more price changes. If you are looking for a mortgage, it makes sense to secure a rate, you can also switch it if prices come down."

Leeds Building Society has announced new lending and existing customer mortgage ranges. It is lowering selected fixed rates by up to 0.5% and improving its limited company buy-to-let rates by up to 1.10%.

NatWest for Intermediaries withdrawing a selection of residential and buy-to-let mortgages. Barclays has reduced a selection of fixed rates.

Coventry for Intermediaries is increasing all remortgage rates for borrowers with a 25% deposit, excluding offset deals. The building society is reducing some property purchase rates.

West Brom for Intermediaries has reduced rates and extended end dates across its fixed rate Switcher range, as well as revising rates and extending end dates on our 2-year discounted variable rate Switcher range.

HSBC has also changed its maximum age policy. For applicants who are 59 and below, the bank can lend to those aged 80 with no pension proof. Affordability must be stressed to age 70. For applicants aged 60-69, the bank will assess affordability on earned income again to age 70.

The Co-operative Bank has withdrawn a selection of two, three and five-year fixed rate products, and the rates have been increased by up to 0.60%. Selected two-year fixed-rate products for borrowers with a 10% deposit have decreased by up to 0.10%

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.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage 

Get Started

Get started today

Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.

Google Reviews
Book a Consultation Talk to an Expert
As seen in
Sunday Times Telegraph Financial Times BBC News The Express The Times