Good news for Sussex residents seeking mortgage deals, as major lenders in the UK, including HSBC’s First Direct and Lloyds’ Halifax, have today announced significant rate cuts.

First Direct has implemented cuts of up to 0.40 percentage points, while Halifax has reduced its mortgage rates by up to 0.46 percentage points.

Notably, Halifax’s adjustments include a 0.24 percentage point cut to a five-year fix for borrowers with a 10% deposit, bringing it down to 4.97%. Additionally, a 0.20 percentage point reduction has been applied to a five-year fix for borrowers with a 40% deposit, now standing at 4.53%.

First Direct has also launched two new mortgages for borrowers with a 5% deposit. The bank is now offering a rate as low as 4.74%, for new and existing customers looking for a five-year fixed-rate deal, with a 40% deposit.

It’s an expanded choice for borrowers, making mortgage options more accessible for Sussex residents.

Posted on: November 14, 2023, by : Gareth