Mortgage Price War Intensifies as September Kicks Off

As the holiday season comes to an end, the mortgage price war shows no signs of slowing down. September hasn’t disappointed with several major lenders announcing further reductions in their mortgage rates, intensifying competition in the market. Here's a breakdown of the latest updates over the past few days:

Residential Mortgages

• Halifax has made significant cuts to its fixed-rate offerings, reducing rates by up to 0.37% across selected products for new purchases, remortgages, and existing customers.
• NatWest has followed suit, lowering rates on selected two- and five-year fixed products by up to 0.19%. These reductions apply to both purchase and remortgage options.
• Barclays has introduced new products to its purchase range while simultaneously reducing selected fixed rates by up to 0.26% across purchases, remortgages, and existing customer products. Notably, the lender now offers sub-3.9% rates for both five-year fixed remortgages and three-year fixed purchases.
• HSBC has announced additional rate cuts across its residential mortgage range, lowering selected fixed rates, available for purchases, remortgages, and existing customers.

Buy-to-Let

• HSBC is extending cuts to their buy-to-let mortgage offerings where landlords will benefit from lower rates on selected two- and five-year fixed-rate products.
• Paragon is introducing two-year fixed-rate products with no fees for the first time since 2022, available for both purchases and remortgages. They are also rolling out new two-year variable-rate mortgage options with no Early Repayment Charges.
• The Mortgage Works have implemented rate cuts across their fixed rate products for existing customers.

As the mortgage price war intensifies, borrowers are set to benefit from increasingly competitive offers. With lenders striving to undercut one another, it’s likely that we’ll see further rate reductions in the coming weeks.

The Importance of Expert Guidance

Given the ever-changing market conditions, seeking the assistance of a mortgage consultant is more important than ever. With their expertise, you can navigate these fluctuations effectively and find the best possible mortgage options tailored to your needs.

Our experienced mortgage consultants are ready to assist you with personalised guidance every step of the way. For an initial consultation, speak with our experts or call us at 01628 564631. We're here to help you navigate your mortgage journey with informed advice and care.

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The information contained within was correct at the time of publication but is subject to change.

Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.