Overview
- From tomorrow, Barclays will offer a 60% LTV two-year fix at 3.73%, or 3.72% for Premier customers, setting a new market low among widely available deals.
- Access to the lowest advertised rates depends on eligibility criteria such as premium banking status, larger deposits, or income and savings thresholds.
- TSB has reduced rates twice in a week, while HSBC, NatWest, Halifax, Santander, Skipton, Accord and Leeds Building Society have also cut fixed deals.
- Brokers say lenders are competing harder as the housing market stays quiet with many buyers holding off for the late-November Budget.
- The Bank of England’s base rate is 4%, with most expecting no change next week, though Goldman Sachs predicts a possible cut that could prompt further mortgage reductions.