Overview

• Barclays and HSBC introduce five-year fixed mortgage rates below 4% for premier customers with substantial deposits.
• The Bank of England reduced its base rate from 5.25% to 5%, prompting lenders to cut mortgage rates.
• Nationwide, NatWest, and other banks have also entered the sub-4% mortgage market in recent weeks.
• Finance experts suggest borrowers explore new deals to find the best value based on 'true cost'.
• Lower swap rates and monetary loosening expectations have contributed to the mortgage rate reductions.