TSB has become the latest lender to trim loan prices by up to 10 basis points as swap rates have fallen over the last week.
The bank cuts, which come to market tomorrow on 17 April, cover:
- Two- and five-year first-time buyer and home mover fixes up to 75% loan to value reduced by up to 10bps
- Two-year remortgage fixes up to 75% LTV rates reduced by 10bps
The move comes after Barclays and HSBC also cut rates on a range of selected mortgage products on Friday.
Two-year sonia swap rates fell to 4.492% on 14 May from 4.591% 15 April, according to Chatham Financial.
Five-year sonia swap rates have come down to 3.968% from 4.073% over the same period.
About 1.6 million existing borrowers have sub-2% fixed-rate deals expiring this year.
Uncertainty over when, and how often, the Bank of England will cut its benchmark rate has led to a series of changes among mortgage lenders.
Financial markets see a roughly 50% chance of a first quarter-point rate cut next month.
