Three high street lenders have reduced mortgage rates on more than 100 deals in a boost for borrowers who have faced weeks of increases.
Barclays will reduce fixed rates on purchase and remortgage deals by up to 0.45 percentage points on Friday. It will cut the rate on one of its five-year fixes from 4.77 per cent to 4.32 per cent for borrowers remortgaging with a 40 per cent deposit.
HSBC will reduce interest rates on more than 100 of its deals fixed at two, five and ten years for homeowners and landlords. TSB has cut rates on some of its two and five-year deals by up to 0.1 percentage point.
Brokers are confident the rate cuts will spur other lenders to follow suit. Hina
