Cheapest mortgage deal in months as Halifax unveils best-buy ...Middle East

Halifax has launched a two-year fix for those who already own their home at a rate of 3.83 per cent.

Households will have to have 40 per cent equity in their property to access the rate.

HSBC has announced its third rate cut in just two weeks, and its second within a matter of days, from Friday.

Barclays made several cuts on Wednesday as well in what experts have referred to as a price war.

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“It would be no surprise to see further movement from other major lenders in the coming days.”

These rates tend to follow long-term predictions for where the Bank of England base rate will go in the future.

After some lenders started to cut rates, others followed, sparking competition as well.

While Bailey stopped short of confirming a cut in August, his remarks have been interpreted by economists as a strong indication that a reduction is probable.

Interest rates currently sit at 4.25 per cent, but markets are increasingly pricing in the likelihood of two quarter-point cuts by the end of the year.

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