Nationwide will lower rates by 0.25 percentage points across its fixed mortgage range for first-time buyers, movers and existing customers from tomorrow, bringing its cheapest rate down to 4.5%.
Highlights from the first-time buyer rate cuts include a five-year fixed rate at 90% loan to value (LTV) priced at 5.25% with a £999 fee and a two-year fix at 60% LTV priced at 4.66% with a £1,499 fee.
HSBC’s cuts benefit BTL borrowers
HSBC’s biggest rates cuts have been passed on to its buy-to-let (BTL) borrowers.
At 80% LTV, two- and five-year fixed BTL mortgage rates have been cut by 0.25 percentage points to 5.99% each.
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First-time buyers have been offered rate cuts of up to 0.15 percentage points, while movers benefit from reductions of up to 0.17 percentage points.
Halifax lowers fixed rate deals
Halifax, meanwhile, is set to cut rates by up to 0.15% on fixed rate products from tomorrow.
Aldermore makes a range of reductions
At Aldermore, BTL two- and five-year fixed rates for individuals and companies with single residential investment properties have been cut by 0.2%, with rates now starting from 3.99%.
Two- and five-year fixed rates for multi-property residential investment property portfolios have also been cut by 0.2% and rates now start from 3.94%.
The lender has also added a host of deals to its BTL range.
Earlier this week, Barclays, Skipton and Market Harborough BS also passed on rate cuts. According to Moneyfacts, the average two-year fixed residential mortgage rate – which was 4.83% at the beginning of March – is now 5.82%, down from 5.83% yesterday.
