Price war sees even lower interest rates in third quarter with lenders accepting smaller deposits
A mortgage price war that has brought the cost of monthly payments down over the past year is expected to continue until at least next month, despite warnings that lenders’ profit margins could be squeezed by a hike in the Bank of England’s base rate.
Industry figures showed that in the third quarter of the year, mortgage lenders offered lower interest rates than the previous quarter and were willing to accept a larger number of applications from buyers with small deposits.
