- More lenders are expected to reduce mortgage rates, offering a boost to homeowners and first-time buyers.
- Nationwide has implemented its third round of cuts this month, reducing rates by up to 0.25 per cent, with its lowest fixed rate now at 4.19 per cent.
- Barclays and Skipton Building Society have also lowered some rates, with Skipton's cuts averaging 0.18 per cent.
- The reductions are attributed to easing tensions in the Middle East, falling oil prices, and declining swap rates, which anticipate future Bank of England interest rate cuts.
- Experts advise homeowners due for remortgage to act promptly to secure a deal, as most lenders allow switching to a better offer later if one becomes available.
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