Overview
- Barclays and Halifax rolled out reductions effective Friday, 9 January, with Barclays cutting a two‑year 60% LTV purchase fix to about 3.57% and a two‑year 75% LTV remortgage to roughly 3.78%.
- HSBC began the week’s moves with broad fixed‑rate cuts across residential and buy‑to‑let products, prompting rivals to follow with targeted price changes.
- Headline deals now sit at their lowest levels since 2022, with Santander offering a two‑year fix around 3.55% at 60% LTV and Lloyds’ Club Lloyds posting roughly 3.47% for qualifying homebuyers with 40% equity.
- Despite sharper headline offers, Moneyfacts data shows average two‑year and five‑year fixes near 4.81% and 4.89%, underscoring that final pricing depends on LTV, fees and borrower profile.
- Brokers cite weaker sales activity and 1.8 million borrowers exiting fixed terms in 2026 as catalysts for competition, with expectations of further small, selective cuts through the year.