In recent weeks, two of the UK’s leading mortgage lenders have made significant rate cuts. HSBC has cut its sub-four percent deal to just 3.99 percent and Foundation Home Loans has reduced its rates to just 2.99 percent. Both lenders have made these cuts in an effort to attract more customers and remain competitive in the current market.
HSBC’s sub-four percent deal is one of the lowest mortgage rates on the market and is available to both new and existing customers. The deal is available on a two-year fixed rate and is available to those with a 25 percent deposit or more. The rate is also available on a five-year fixed rate, but only to those with a 40 percent deposit or more.
Foundation Home Loans has also made a significant rate cut, reducing its rates to just 2.99 percent. This deal is available on a two-year fixed rate and is available to both new and existing customers. The deal is only available to those with a 25 percent deposit or more.
Both lenders have made these rate cuts in an effort to remain competitive in the current market. With the Bank of England base rate at an all-time low, lenders are looking for ways to attract more customers and remain competitive.
For those looking for a new mortgage, these rate cuts could be a great opportunity to save money. However, it is important to remember that these deals are only available to those with a large enough deposit and may not be suitable for everyone. It is also important to compare different deals to ensure you are getting the best deal for your circumstances.
Overall, HSBC and Foundation Home Loans have both made significant rate cuts in an effort to remain competitive in the current market. For those looking for a new mortgage, these rate cuts could be a great opportunity to save money, but it is important to compare different deals before making a decision.