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Graham Awards


Good news as High Street borrowers cut rates once again

There was good news over the weekend as rates reductions announced late last week kicked in.

Barclays has cut a number of five-year fixes including its £999 product fee fix at 60% LTV from 4.47% to 4.34%. HSBC has cut  its residential and buy-to-let rates while TSB has also reduced with two and five year fixes for purchases reduced by up to 0.10%.

Mark Harris, chief executive of mortgage broker SPF Private Clients, says: “This latest round of mortgage rate reductions from some big lenders is great news for borrowers.


“They come on the back of a decline in Swap rates, which underpin the pricing of fixed-rate mortgages, over the past week. 

“These cuts should give other lenders confidence to make similar reductions, which will stimulate activity and provide a welcome boost for the market."

Away from the High Street, LendInvest Mortgages has updated its Buy-to-Let suite; including reduced rates and increased maximum loan sizes.

It has reduced rates by up to 15bps across its BTL range, with rates now starting at 3.89%. Landlords can now also access up to 80% LTV on five-year products for both standard properties and small HMOs.

Maximum loan sizes have been increased up to £3 million, accommodating the needs of investors looking to finance larger property deals. 


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