- Battle between lenders has intensified recently, causing rates to plummet
- HSBC have now announced 1.99% interest deal on a five-year fix mortgage
- Offer expected to spark flood of rate cuts by banks and building societies
- Experts have described cheapest deal ever of its kind as ‘astonishing’
The mortgage market has reached a ‘watershed’ moment with the launch of the first five-year fixed rate below 2 per cent. The battle between lenders has intensified in recent months, plunging home loan rates to their lowest in history. But the mortgage wars will erupt again next week after HSBC announced a 1.99 per cent interest rate on a five-year fix. Experts said it was the cheapest ever deal of its kind and described the move as ‘astonishing’.
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