The lenders have announced a number of interest rate reductions across mortgage deals for first-time buyers, people who are remortgaging and buy to let landlords.
Five mortgage lenders are slashing their rates to get a grip on the resurgent housing market. Barclays, HSBC, Halifax, Santander, and NatWest are trimming interest rates on mortgage deals for an array of customers including first-time buyers, those looking to remortgage, and buy-to-let landlords.
Additionally, some mortgage brokers predict five-year fixes could fall close to 3 percent by year-end. On another front, financial heavyweights like Nationwide have eased lending criteria, letting first-time purchasers borrow up to six times their earnings and providing loans up to £750,000. Barclays has unveiled a series of cuts primarily aimed at first-time buyers and home movers, including several sub 4 percent deals for those with larger deposits. For instance, its lowest two-year fixed rate for buyers with a 40 percent deposit or more has been reduced to 3.99 percent from today.
HSBC is reducing interest rates on its two-year and five-year fixed mortgages for both home movers and first time-buyers by up to 0.25 percentage points. Consequently, its lowest five-year fixed rate for those remortgaging with at least a 40 percent equity is now priced at 3.83 percent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New cash rule at 14 banks including NatWest, Lloyds, Barclays, HSBC and TSBThe new rules come into force on Wednesday and will be overseen by the Financial Conduct Authority
Read more »
New cash rules for customers at 14 banks including Barclays, HSBC and NatWestNew powers have been given to local communities to request an assessment for gaps in local cash access
Read more »
Barclays Advises Customers To Check Accounts After Fraudulent Activity ReportA Barclays customer reported experiencing fraudulent activity on their bank cards, leading the bank to advise customers to perform a basic check on their accounts. The customer initially contacted the bank due to difficulties accessing funds following fraud alerts and had to cancel their card. However, they experienced further issues with their replacement card being declined and receiving notifications of additional fraudulent activity.
Read more »
Barclays urges customers to make 'simple check' after fraud alertsThe bank said it had several security systems in place to protect customers
Read more »
Barclays issues warning to customers over blocking of bank cardsA customer raised the alarm after receiving fraud alerts on two of their cards
Read more »
Barclays issues message to all customers over card fraud activityA customer was left unable to access their funds after receiving fraud alerts on two cards
Read more »