NatWest and HSBC cut mortgage rates again - could we soon see a five-year fix below 5%?
Mortgage deals continue to steadily cheapen, with HSBC, NatWest and Accord kicking off the week by announcing a number of rate cuts.
From tomorrow, HSBC will be cutting rates across various deals aimed at first-time buyers, home movers and remortgagers.
However, it won't confirm what the new rates will be until tomorrow.
Similarly, NatWest will cut some of its rates for home movers, first-time buyers and those remortgaging, albeit the majority of its products are seeing little improvement.
For example, its cheapest five-year fix for those buying with at least a 40 per cent deposit is remaining at 5.27 per cent.
Alongside HSBC and NatWest, lender, Accord Mortgages is also cutting all its fixed rates by 0.2bps from tomorrow.
HOW THIS IS MONEY CAN HELP
- Looking for a new mortgage? Check out the best deals here
Nicholas Mendes, mortgage technical manager at broker, John Charcol, believes lenders are competing to win business and this is helping drive rates down.
'What a start to the week - HSBC, Accord and now NatWest in the latest attempt to battle for top spot,' says Mendes.