Good news for homebuyers and those looking to remortgage – mortgage rates are plummeting!

Accord and NatWest are the latest lenders to announce big cuts to their mortgage rates, offering a much-needed boost for borrowers feeling the pinch.

From tomorrow, both lenders will be reducing rates across a range of products:

Accord

• Product transfers and additional loans: Rates will be slashed by between 0.1% and 0.2% (that’s 10 to 20 basis points in mortgage-speak).
• All fixed rates in this range will see reductions.

NatWest

• New purchases: Rates cut by up to 0.1% (10 basis points) on selected 2-year and 5-year fixed-rate deals.
• Remortgages: Even bigger savings with rates down by up to 0.15% (15 basis points) on selected 2-year and 5-year fixed-rate deals.

What’s Driving the Rate Cuts?

These cuts are the latest in a series of reductions from major lenders. Just this week we’ve seen:

• Virgin Money
• Paragon
• Santander
• Hodge
• Molo

All slashing their mortgage rates. According to financial experts Moneyfacts, average fixed rates have already fallen by 0.09% (9 basis points) in the last week alone.

What Does This Mean for You?

This is fantastic news for anyone looking to get on the property ladder or remortgage their existing home. These rate reductions mean you could save thousands of pounds over the lifetime of your mortgage.

Our Advice?

Don’t delay! With rates tumbling, now is the time to act. Speak to a mortgage broker to see how much you could save and find the best deal for your circumstances.