UK lenders trim fixed rates again as swap rate pressure eases
In the week ending 29 May, NatWest cut its 90% LTV two-year fix from 5.56% to 5.35% and Leek Building Society trimmed residential products by up to 20bps, while Newcastle launched a fresh tracker range from 4.55%. Swap rates have eased from their post-Middle East spike, giving lenders modest headroom to reprice. For buyers, the early-month softening continues but only by single basis points; for sellers, affordability is loosening at the margin rather than meaningfully recovering.
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.
More Rates commentary
1 Sept 2026 · Impact 5/9
HSBC cuts fixed mortgage rates by up to 0.11% as lenders keep trimming into September
1 Sept 2026 · Impact 5/9
More than one million homeowners come off two-year fixes this year, facing £283 a month more on standard variable rates
21 Aug 2026 · Impact 6/9
Halifax cuts fixed mortgage rates from 24 August, with 60% LTV remortgage deals down 0.13%
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