UK Banks Slash Mortgage Rates Below 4% in Competitive Price War
Major lenders including NatWest, Halifax, and Nationwide cut rates following recent Bank of England interest rate reduction.
- NatWest offers a 3.89% five-year fixed-rate mortgage with a £1,495 fee.
- Halifax and Nationwide also introduce sub-4% mortgage deals, enhancing market competition.
- The Bank of England's recent interest rate cut to 5% has spurred this wave of reductions.
- Borrowers with large deposits and premier banking status benefit most from these new rates.
- Experts predict continued rate cuts as lenders vie for market share in the latter half of 2024.
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