Encouraged by better-than-expected inflation data, lenders are slowly starting to reduce rates and relax borrowing criteria 

HSBC is the first high street bank to cut rates, and Pepper Money has announced its biggest rate reduction this year. We are also seeing Coventry, set to reduce rates across all 2 and 5 year fixed products 

We had predicted a softening in rates last week, however the market still expects the Bank of England to raise interest rates on the 3rd August, this could mean that large rate reductions are unlikely 

The reduced volatility in the market will be welcome, and we may see more rate reductions in the coming months. This is good news for homeowners who are looking to remortgage or buy a home 

If you’re a property owner and would like to discuss your mortgage, please send us a private message or call us on 020 3645 4322 

Key points:
 ✔ Mortgage rates are starting to fall.
 ✔ HSBC is the first high street bank to cut rates.
✔ Coventry to reduce rates across 2 & 5 year fixed products.
✔ Pepper Money has announced its biggest rate reduction this year.
✔ The Bank of England is still likely to raise interest rates in August.
✔ We may see more rate reductions in the coming months.