Sub-4% Fixed Mortgage Rates Return as Competition Heats Up Among UK Lenders
All of the UK's major banks and building societies are now promoting fixed mortgage rates below 4%, although financial advisers caution that further reductions are far from guaranteed.
A mini price skirmish has erupted among lenders, but many of the most attractive rates come with high upfront fees and significant deposit requirements.
The Bank of England is widely expected to cut its base rate several times this year amid mounting global financial instability.
Yet, many mortgage providers have already priced in anticipated base rate cuts, meaning customers hoping for continued drops could be left disappointed.
"If the base rate falls, fixed rates might come down a bit more, but nothing is certain," said Aaron Strutt from broker Trinity Financial.
Borrowers Face Difficult ...
