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Mortgage Price War Predicted As Lenders Offer Rate Reductions

Despite last weeks interest rate increase by the Bank of England (BoE) in a further attempt to control inflation the UK’s largest residential mortgage lender Halifax have adjusted their pricing and reduced rates by as much as 0.71% on selected fixed rate product with other big lenders having already done so sparking predictions of a mortgage price war in the coming weeks.

The UK economy saw unexpected growth of 0.2% in the second quarter of 2023 (April to June) and monthly figures show Gross Domestic Product (GDP) grew by 0.5% in June rebounding from an fall of 0.1% in May which does not back forecasters prediction of recession given the UK economy continues to muddle its way through providing more confidence a recession may be avoided.

If you are looking to benefit from the latest rate reductions get in touch by calling on 0800 0350095 or click on the button below and one of our experienced advisers will call you back.

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