TSB reduces mortgage rates by up to 0.4%, potentially sparking a price war among lenders.

TSB has launched significant mortgage interest rate cuts, ranging from 0.1% to 0.4%, potentially igniting a price war among lenders. This could save borrowers £50-£60 monthly on a £250,000 loan. Analysts anticipate other banks, like Barclays and Leeds Building Society, will follow with similar reductions. TSB's changes primarily affect first-time buyers and shared ownership products, suggesting a broader trend of declining mortgage rates in the market.

September 09, 2024
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