NatWest latest major lender to cut mortgage rates

It will be lowering rates by up to 0.23 per cent tomorrow , following Halifax, HSBC, Barclays and Coventry Building Society who have all cutMany lenders cut rates following the stability of swap rates. These are based on long-term predictions for where the Bank of England interest rate – the increase the Bank charges on its lending to commercial banks –Swaps had held steady at 5.

The MPC’s next vote is in August, with many analysts anticipating a reduction in the base rate amid falling inflation. Ben Perks, managing director of Orchard Financial Advisers, said: “More lenders are joining the race to reduce rates. With an election this week, it could have been a turbulent time for rates. But products are improving for borrowers.

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