Nationwide, Virgin Money and HSBC cut fixed mortgage rates by up to 0.19% as summer repricing spreads
Nationwide cut fixed rates by up to 0.19% from 6 July, with Virgin Money down by up to 0.16%, HSBC by up to 0.16% and Accord trimming residential deals by up to 0.30%. Lenders are competing hard for summer business while markets expect the Bank of England to hold at 3.75% on 30 July. For buyers and remortgagers, sub-4% fixes are reappearing at larger deposits; for sellers, better-financed buyers help underpin demand. These are measured trims, not a step change in affordability.
What this means for…
Buyers· 2/3
Sellers· 1/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 5/9.
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5 Oct 2026 · Impact 8/9
Average five-year fixed mortgage rate hits 6% for the first time since 2023, as sub-5% deals fall from 1,494 to nine
2 Oct 2026 · Impact 7/9
Average two- and five-year fixed mortgage rates climb to 5.96% and 5.98%, close to 6%
1 Oct 2026 · Impact 6/9
Barclays raises 62 mortgage deals for the second time in a week, with some fixed rates up 40bps
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