Three of the high street's largest lenders have once again cut mortgage rates.
Nationwide, TSB and HSBC have all announced cuts to fixed-rate mortgage products.
Nationwide Building Society has reduced rates for fixed mortgage products by up to 0.55 percentage points.
The rate reductions, which are effective from today (August 9), include reductions across selected two, three, and five-year fixed products up to 95 per cent LTV for first time buyers.
Other large lenders, such as TSB, announced rate reductions on some of its fixed rate products of up to 0.4 percentage points.
HSBC also announced rate cuts on selected two, three and five-year fixed rate products, though the actual rate cuts are expected to be revealed today.
Nationwide cuts
Nationwide announced that its five-year fixed rate at 60 per cent LTV with a £999 fee will be reduced by 0.10 percentage points to 5.64 per cent.
Additionally, two-year fixed rate at 75 per cent LTV with the same fee will fall to 6.24 per cent, a reduction of 0.15 percentage points.
A reduction of 0.05 percentage points was also announced for three-year fixed rates at 60 per cent LTV with the fee, which will decrease to 6.09 per cent.
Remortgage products will also be affected by Nationwide's rate reductions, with five-year fixed rates being reduced by 0.05 percentage points to 5.64 per cent.
Similar reductions exist for two-year and three-year fixed rates, being reduced by 0.20 percentage points to 6.19 per cent and 0.35 percentage points to 6.09 per cent respectively.
The new customers moving home product also saw reductions with five-year fixed rates being reduced by 0.05 percentage points.
Nationwide also announced it will be reducing selected two, three, and five-year fixed rates for existing customers moving home by up to 0.30 percentage points.
Nationwide Building Society director of home, Henry Jordan, saidd: "These latest changes build on the reductions we made last week for existing customers.
"With swap rates having fallen from their early July peak and stabilised somewhat, we are now able to reduce rates for new customers.".
tom.dunstan@ft.com
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