MORTGAGE NEWS: Suddenly Mortgage interest rates are falling: full story

 

MORTGAGE NEWS: Suddenly Mortgage interest rates are falling: full story

Some refreshing news at last: major UK mortgage lenders have cut their interest rates, especially for first time buyers and homeowners.  Here is a round up of some of the new deals on offer.

Nationwide will lower its fixed mortgage range for first time buyers and homeowners.  Rates will be reduced by up to 0.25% across two, three and five year fixed rate products.

Halifax agents have confirmed it will implement rate reductions of up to 0.15% on fixed rate mortgages for homeowners and first time buyers.

First Direct has slashed rates across dozens of 2 and 5 fixed rate mortgage products.

Virtually all the majors including  HSBC, Virgin Money, Santander, Barclays and Skipton have followed the same trend.

Mortgage brokers say that mortgage interest rates are starting to fall from their recent peaks, particularly because of hopes for a positive outcome to the war in the Middle East.  Swap rates, the rates at which banks lend to each other, have also decreased, allowing lenders like HSBC, Halifax and Santander to cut their own mortgage rates.

As of late April 2026, average 2-year fixed rate mortgages are now 5.8%, down from the 5.9% peak. Five year fixed rate mortgages are now around 5.7%, down from the 5.78% peak.

Nevertheless, mortgage rates remain significantly higher that pre-war levels and the market remains very volatile.

Jm April 25th 2026.

See also: Mortgages: How much can I borrow?

https://housingresearchsources.blogspot.com/p/mortgages-how-much-can-i-borrow-and-who.html

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