Ever since the base rate was cut at the start of August by the Bank of England for the first time in four years, prices for borrowers have plummeted.
Fewer than two weeks ago, Nationwide lowered rates to 3.83% on a five-year fix for homeowners following a trend of lenders dipping rates below 4%.
As it stands, a five-year fixed residential mortgage rate is 5.23%, down from 5.25% yesterday, according to Moneyfacts data.
A two-year equivalent is 5.61%, down by 0.1% on the previous working day.
After yet another raft of cuts, YourMoney.com rounds up the top rates offered by lenders.
Nationwide’s new lower deals
Not content with its 3.83% rate, Nationwide’s latest reductions see prices starting at 3.78% on a five-year fix at 60% loan to value (LTV) with a £1,499 fee.
The same length of deal at 75% LTV with no fee dropped by 0.26% to 4.09%, while its two-year fixed rate at 60% LTV with a £999 fee decreased by 0.2% to 4.15%.
The mutual offers a five-year fixed rate at 60% LTV with a £1,499 fee for 3.78%, with a decrease of 0.05%, along with its £999 fee version, which fell by the same amount to 3.83%.
For first-time buyers, decreases of 0.25% will be made across two-, three-, five- and 10-year fixed mortgage rate deals up to 95% LTV, including its five-year fixed rate at 60% LTV with a £1,499 fee, which reduced by 0.15% to 3.99%.
On the remortgage side, reductions of up to 0.25% were made across two-, three-, five- and 10-year fixed mortgage rate products up to 90% LTV.
HSBC joins sub-4% brigade
HSBC has made sweeping cuts across its first-time buyer, residential, remortgage, buy-to-let (BTL), homemover and international resident ranges.
Residential existing customer switching and existing customer borrowing more from 60% to 95% LTV fell, with prices starting from 3.84%.
For first-time buyers on energy-efficient deals, two-, three- and five-year deals from 60% to 95% LTV dropped to 4.14%.
Residential homemover deals, including two-, three- and five-year deals without a fee and standard products from 60% to 90% LTV, start from 4.14%.
Similarly, remortgage deals on two-, three- and five-year terms with both no fees and standard fees to finance up to 60% and 90% LTV dipped to 4.14% in the residential range.
If you want to remortgage with an energy-efficient deal, for the two- and five-year products from 60% to 90% LTV, rates are also available at 4.14%.
A mix of cuts and hikes by NatWest
NatWest has slashed business rates for residential mortgage customers and those looking for a green mortgage offer. However, first-time buyer deals rose by up to 0.15%.
Within its new business core residential range, including its five-year fixed remortgage rate at 60% LTV with no fee, there was a decrease from 4.31% to 4.15%. However, its five-year fixed purchase rate at 90% loan to value (LTV) with a £995 fee increased from 4.68% to 4.83%.
Green mortgage deals fell by 0.1%, including a five-year fixed rate remortgage at 60% LTV with a £995 fee and £250 cashback, which dipped from 4.1% to 4%.
For first-time buyers, prices climbed by up to 0.15%, as a five-year fixed purchase rate at 90% LTV rose from 4.68% to 4.83%. The deal has a £995 fee and £250 cashback.
