Overview

• Lloyds Bank is offering a two-year fixed rate of 3.69% exclusively to Club Lloyds members who meet a 40% deposit requirement and pay a £999 product fee.
• Barclays has unveiled a 3.75% two-year fix for Premier account holders with at least £75,000 annual income or £100,000 in savings alongside a 3.76% option open to all borrowers at 40% deposit.
• Santander and Halifax have priced two-year fixes at 3.79% for customers with 40% equity, while HSBC’s comparable remortgage rate stands at 3.83% for the same loan-to-value level.
• The Bank of England has increased its cap on high loan-to-income mortgages from 10% to 15% of new lending and Nationwide has lowered its first-time buyer income threshold to £30,000.
• June inflation held at 3.6% according to the ONS and markets remain confident of an August base rate cut from 4.25% to 4%, underpinning lenders’ aggressive pricing.