Mortgage price wars as three major lenders slash rates in boost to homeowners and first time buyers
Three major lenders slash mortgage rates in boost to homeowners
- Three major UK lenders – Nationwide, Santander, and Barclays – have recently announced cuts to their mortgage rates, signalling increased competition in the market.
- Nationwide has reduced its lowest two-year fixed rate to 3.54 per cent, though this typically requires a substantial deposit.
- Santander has implemented significant rate reductions, particularly targeting first-time buyers, with some cuts reaching 0.32 per cent.
- Barclays has also joined by lowering rates on six residential purchase products, including a 90 per cent loan-to-value mortgage at 4.38 per cent.
- Industry experts suggest these cuts, driven by falling swap rates and expectations of lower inflation, are positive for consumers, especially those renewing deals by 2026 and first-time buyers, but advise considering total costs.
Bookmark popover
Removed from bookmarks