There’s been a fresh wave of mortgage rate cuts this week, with nearly all of the UK’s major lenders now offering at least one fixed-rate deal below 4%. Halifax and NatWest made reductions on Tuesday (22 April), and Nationwide followed on Wednesday (23 April).
For homeowners coming to the end of their current deal, this could be a window of opportunity to secure a lower rate—particularly if you have a healthy amount of equity.
The most competitive rates are aimed at borrowers with a 40% deposit or equivalent equity and are typically available on two-year fixed terms. Halifax now offers 3.94% with a £999 fee, NatWest matches that rate but with a £1,495 fee, and Nationwide has gone slightly lower at 3.89% (with a £1,499 fee).
While these headline rates are reserved for those with larger deposits, lenders are trimming rates across the board—so we’re likely to see improved options for a wider range of buyers and remortgagers in the weeks ahead. Even if you have fixed your new rate in ahead of time, it possible that the rates have dropped further. Contact your Miles Rhodes adviser to see what we can do.
Speak to a Mortgage Adviser Before You Fix
While sub-4% mortgage rates are attracting attention, the right deal for you will depend on your equity, income, future plans and how long you want to fix for. Rates can also change quickly, and in some cases a better option may become available after you’ve already secured a new deal.
At Miles Rhodes Mortgages, our advisers monitor the market closely and can review your existing offer to see whether a more suitable rate is now available. We provide clear, independent advice and manage the process on your behalf from start to finish.
We support homeowners and buyers across Watton, Reepham, Swaffham and Fakenham, offering face-to-face appointments as well as remote consultations.
If your current mortgage deal is ending soon — or you’ve already secured a new rate — now is the ideal time to speak with your Miles Rhodes adviser and ensure you’re making the most of today’s changing mortgage market.
