Mortgage price war rages on as TSB, Santander and more lenders cut rates

Multiple mortgage lenders including the likes of Santander and TSB are cutting rates again as price cuts continue.

Small lender Mpowered Mortgages is also cutting rates for the second time in a week, having reduced them as recently as last Thursday. It cut two year fixed rates by up to 0.15 per cent reduced rates last week and will reduced them by a further 0.3 per cent today. But now, after numerous cuts including from major lenders like Halifax, Nationwide and more, the averages are 5.91 per cent and 5.49 per cent, according to Moneyfacts.Aaron Strutt of brokers Trinity Financial said: “More lenders are lowering their rates at the moment to undercut their competitors. This is good news for borrowers planning to get on the property ladder soon or remortgaging homeowners keen to minimising the payment shock.

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