Comment: Mortgage rate cuts

Alex Hasty, director at Compare the Market, said:

 
“Homeowners will be pleased to see some lenders cut fixed rate mortgages over the past few weeks, one high-street bank made reductions of up to 0.5%. Customers may now be able to secure rates below four percent. Those looking to move home or remortgage can consider taking advantage of this. However, whether this is a long-term trend remains to be seen.

“With the UK’s inflation and interest rate trajectory still uncertain, we could see continued volatility in the rates that providers are able to offer to new and existing customers. For those looking to move home or remortgage, comparing available deals now and staying aware of what is happening in the market could help you prepare and save for the future.”