Lenders extend June rate cuts: Principality, Kensington and HSBC reprice fixed deals by up to 50bps
On 22 June another wave of lenders trimmed fixed rates — Principality by up to 50bps, Kensington up to 25bps and HSBC up to 10bps — extending a month of cuts that also drew in Barclays and Santander. Swap rates have eased after CPI held at 2.8% in May and the Bank kept Bank Rate at 3.75%, giving lenders room to move. For buyers that means modestly cheaper fixes and some sub-4% deals returning at lower loan-to-values; for sellers, firmer affordability supports demand. This is gradual easing, not a return to pre-2022 pricing.
What this means for…
Buyers· 2/3
Sellers· 2/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 6/9.
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