Mortgage lenders are hoping to relieve some pressure off home buyers this week and reduce some of their mortgage rates. We have already seen HSBC and Natwest yesterday cut their rates. HSBC have noted that they will be cutting their rates on many of their new deals which include; first-time buyer, home mover and re-mortgage deals. Natwest have also reduced their rates today, some of the deals had decreased by 0.55%! This includes residential purchase and re-mortgage products as well as buy-to-let and first-time buyer deals.
Hopefully, from these reductions in the market, other lenders will follow suit and rates will become competitive once again and hopefully bring more buyers to the market.
If you need help finding your next mortgage, contact us today on 01233 501601.
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