Mortgage rate cuts are gaining pace across the UK, with lenders reducing fixed-rate deals in an effort to stimulate demand in the housing market. Several major banks have lowered rates following the Christmas period, reflecting increased competition and cautious optimism about borrowing conditions.
Among the lenders making changes is Barclays, which has trimmed rates on selected mortgage products to attract buyers and those looking to refinance. Industry analysts say the move signals growing confidence that interest rate pressures may be easing, even as affordability challenges remain for many households.
Data from Moneyfacts shows that the number of rate reductions has increased in early January, reversing a slowdown seen late last year. Average fixed mortgage rates have edged down, though they remain well above the historically low levels seen before recent inflation-driven rises.
Property experts say lower rates could help support house sales and buyer sentiment in the months ahead, but warn that sustained recovery will depend on broader economic conditions, including wage growth and future decisions by the Bank of England.
