Three of the UK’s largest lenders and several smaller players have cut mortgage rates.
The moves by Nationwide, Barclays and TSB followed on from a decision by HSBC, which on Wednesday became the first big home loan provider to cut the cost of about 100 of its products in the wake of official data which showed a better than expected drop in June inflation.
Nationwide, the UK’s second-largest lender, said it would reduce fixed rates by up to 0.35% on Friday, while tracker products would come down by as much as 0.2%.
Barclays, the fifth-biggest lender, is reducing rates by 0.15 percentage points, while TSB, the 10th-largest mortgage provider, announced it was reducing the rates on two-year fixed products by as much as 0.55%.
