NatWest and Halifax have both announced further fixed rate cuts this afternoon, with NatWest now offering a 2-yr fixed remortgage from 4.87% with a £1,495 fee (or £995 if it qualifies for a Green deal), and a 5.64% 5-year fixed with no fee for a purchase at 95% LTV. Halifax have announced up to 0.72% off a number of their deals, too. Even with SWAP rates increasing slightly in the past few days, lenders appear to be ready to shave their margins in an effort to secure business and boost activity. Newspage sought views from brokers, below.<figure class="image"><img src="https://cdn.newspage.media/production/company/10990/files/09516c695ae1e8615267e8695e352a56768487546bf810789e5fbd2dc832faa070ba5bd9004c77d002a71a7b43ee5f1bce6a1b4c54b6aa15471413d9036630dc.webp"></figure><figure class="image"><img src="https://cdn.newspage.media/production/company/10990/files/00b1f0ce93f2c2f9e2daffb8d5f38ee76227f130a8b885dc2ec7dab36c29674b5613c8504d4d28b755a077a4eff25e2c41c54bb89e7ab919079ead8a3fb9d69f.webp"></figure>

mortgages

Halifax and NatWest announce further fixed rate mortgage cuts

Once more into the breach the UK's banks go. The rate war drum is now becoming louder by the day. Rates are coming down around our ears, which for borrowers is fantastic news as long as they have not passed the point of no return in their mortgage process. After rate cuts from Barclays that will take effect from Tuesday, we now have Halifax and Natwest announcing reductions. There is a real frenzy among lenders fighting for every scrap of business they can get as they head towards the end of the year. I am getting calls and emails daily from clients understandably asking me to check and double-check to see if they can squeeze an extra bit of savings from the deals already secured. I wonder when the drums will silence.

Ken James

At Contractor Mortgage services Ltd we specialise in helping customers from all types of employment find the right mortgage and protection products to meet their individual needs. We take pride in tailoring our service as one of the best contractor mortgage brokers in the UK to each customers needs no matter whether they are contractors, self employed or employed clients.

Contractor Mortgage Services

How festive of the lenders to start snowballing their rate cuts as we dip into December. Although it is traditionally a quiet time of year, any movements south on rates can only be welcomed. Hopefully this trend will carry on into 2024 and we see lots more positive market activity.

David Stirling

Expert Mortgage Advisers Access to competitive rates and some you can't get direct A community of Finance Consultants, Financial Advisers & Finance Brokers We make finding your mortgage as enjoyable as finding your home. Contact us to find out more.

Mint Mortgages & Protection

Just when you think lenders may have run our of margin to play with, two or three of the big players suddenly dig deeper into their pockets and find some more to give away. NatWest have pushed their headline 2-year fixed remortgage deal to 4.87% with either a £995 or £1495 fee for those with 40% equity in their homes, but there is even a reasonably priced 5-year fixed rate at 5.64% for those purchasing with a 5% deposit. It's clear that lenders are desperately trying to fill their application numbers ready for 2024, even if profit margins are being severely squeezed as a result.

Justin Moy

Independent Mortgage and Protection Brokers, based in Essex and helping clients across the UK. Over 30 years in Financial Services, the last 15 years as a Mortgage Broker.

EHF Mortgages

These are substantial rate reductions from two of the largest mortgage lenders, which are a sign of the growing confidence in the rate forecasts and also an element of fighting hard for the lions share of deals yet to be agreed in 2023. With all lenders behind on annual lending targets, there is no doubt a real appetite to ensure they maximise their lending volume before the year comes to a close.

Stephen Perkins

Yellow Brick Mortgages is a national award-winning independent mortgage brokerage offering whole-of-market advice on first-charge mortgages. Established in Norwich, Norfolk in 2018, they have grown fast to over 60 authorised advisers. Built around a clear ethos of exceptional customer service and giving back to their community on every mortgage. Their customer service is validated by over 3900 5-star reviews on Trustpilot and 800+ 5-star reviews on Google, being the #1 ranked finance broker in the UK on Trustpilot. Their giving back is by donating to one of their local charity partners (£90k so far), planting a tree (8402 so far) on completion of every mortgage and spending over £90k on grassroots sponsorships. Yellow Brick Mortgages is part of the Yellow Brick Group, which also includes Yellow Brick Financial Planning and Yellow Brick Wills and Estate Planning. They have also expanded the advice offered to cover Equity release and Commercial and bridging finance.

Yellow Brick Mortgages

Further fantastic news for borrowers from two of the big beasts of mortgages today. Hopefully, this will further improve consumer sentiment and create the foundations for a brilliant start to the new year. The only thing that will throw a spanner in the works is the bank of England if they raise rates at the next meeting because they can't see the wood from the trees. We are currently seeing an active and sustained decrease in rates, and while they are not seismic in size they are consistent and sustained and over the next few months should lead to a considerable reduction and saving for purchasers as well as remortgage clients.

Charles Breen

With our roots firmly planted in Northamptonshire and our reach extending nationwide, Montgomery Financial stands as a beacon of excellence, specializing in mortgages and life insurance. The story of Montgomery Financial began in 2022 when Charles founded the company, named after his son Monty, after working for a number of years as an estate agent based mortgage adviser, he embarked on a mission to reshape the financial landscape. Since then, we've meticulously crafted our services, embracing a warm and welcoming 5-star reviewed approach, our customer service is validated by over 110 5-star reviews in only 2 years. Our foundation is built upon a resolute commitment to outstanding customer service and a deep-seated desire to enrich our community with every mortgage we facilitate. The proof is in the pudding, and our approach is yielding remarkable results.

Montgomery Financial

It's great to see these rate reductions coming on such a regular basis and can only be a positive sign. 

Gareth Davies

Impartial, whole of market mortgage advisor. Offering jargon-free, modern-day mortgage advice. 

South Coast Mortgage Services

Halifax and Natwest have come out with a few early festive treats for customers. It is so positive that we are now starting to see regular rate reductions and, with 2023 coming to a close, lenders are looking to start 2024 on the front foot.

Gary Boakes

We’re different; the clue is in our name. The reason we’re called ‘Verve’ is because we provide our service with enthusiasm and energy. We’re passionate about you and what you want to overcome and achieve in your life. We offer financial advice from a chartered Financial planner and mortgage advice.

Verve Financial

Does the latest round of cuts question the margins lenders were making on their fixed- ate mortgages? We have seen cut after cut in the past couple of months when swap rates have only reduced slightly however when rates increased in June we were told this was a direct result of swap rates increasing. Maybe lenders cutting margins is the sign buyers need to see. It can only be good news for existing borrowers with deals coming to an end, and new borrowers coming into the market.

Steven Hargreaves

The Mortgage Co was established in 1995 and the team consists of four mortgage and protection advisers and two administrative support. The team offers an impressive combined experience of over eighty-five years within the financial services industry. All of our team members, here at The Mortgage Co share similar goals, in that we want to help people into their dream homes. In fact, the best part of the job for us is to see a happy new homeowner pick up their keys, as well as saving them money, wherever possible, throughout the application process. Outside of the office, we share some interesting hobbies, one of the more unusual of these being, trying to establish an alpaca herd at their home farm. We’ll let you guess who that hobby belongs to, once you’ve met us!