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Cost of living crisis: Halifax joins rivals in cutting mortgage rates
Posted
August 10, 2023
Views
43,646
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August 10, 2023
43,646
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3:27Now PlayingThere are hopes the mortgage crisis which is causing misery for millions could be nearing an end.
Halifax, the UK's biggest mortgage provider, says it will cut rates on some of its fixed mortgage deals.
It will reduce rates by up to 0.71 percentage points from Friday, with a five-year fixed deal priced at 5.39% from 6.10%.
Other lenders such as HSBC, Nationwide and TSB have also cut some rates.
Soaring interest rates triggered by high inflation, have pushed up mortgage repayments for many by hundreds of pounds a month.
#costofliving #mortgagerates #bankofengland
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