Tag: First Direct
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More Rate Cuts from Major Lenders
First Direct has taken a bold step, reducing its mortgage rates by up to 0.40 percentage points. This change, effective from Tuesday, marks their most substantial rate drop since February this year. Additionally, they have introduced two new mortgage products for those with a 5% deposit. Their standout offer is a five-year fixed-rate deal at…
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Could Mortgage Rates Dip Below 4% in 2023?
A recent drop in inflation has led to speculations about the future of mortgage rates, especially with the Bank of England’s previous aggressive interest rate hikes in response to soaring inflation. In a surprising turn of events, the UK’s annual inflation rate decreased to 4.6% in October, down from 6.7% in September. This significant reduction…
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More Mortgage Rate Cuts from Major Lenders
The UK mortgage market is currently experiencing significant changes, with major lenders like Halifax, HSBC, and First Direct making notable adjustments to their rates. In the last two months, we’ve seen a substantial drop in the cheapest five-year fixed mortgage rates – from just over 5% to nearly 4.5%. This trend is a result of…