Barclays and Santander slash mortgage rates below 4 percent as 'price war' looms
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manchestereveningnews.co.ukTwo major banks have slashed their mortgage rates below 4 percent as brokers are now predicting an upcoming 'mortgage price war'.
It comes after the Bank of England cut interest rates to 4.5 percent last week, the lowest base rate in more than 18 months, which has given lenders the confidence to reduce their own rates.
Both Barclays and Santander have announced they will be offering new sub 4 percent mortgage deals from today (February 13). Santander UK said that borrowers will be able to apply for one of four new products as it launches a range of two and five-year fixed-rate deals at 3.99 percent.
Eligible borrowers will need a 40 percent deposit to access the sub 4 percent rates, available for house purchase or remortgaging.
Read more on manchestereveningnews.co.uk
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