Large lenders cut mortgage rates

Four large UK lenders are cutting mortgage rates for the second time in three weeks. Competition in the home loan market has intensified on the back of better-than-expected inflation data. Nationwide, the second-largest mortgage lender, on Wednesday reduced prices on some fixed products by up to 0.55 percentage points. HSBC, the sixth-biggest provider, trimmed costs by as much 0.2 percentage points, while tenth-placed TSB lowered rates by up to 0.4 percentage points. Halifax, part of Lloyds Banking Group – the largest mortgage provider in the UK – is also cutting prices on fixed mortgages by as much as 0.71 percentage points from Friday. The FT (£)The Guardian