Four of Britain’s biggest lenders cut rates on fixed mortgage deals

Relentlessly increasing housing costs have piled further pressure on Britons already struggling to cope with higher food and energy costs. Photograph: Yui Mok/PA

Four of Britain’s biggest lenders have cut rates on their fixed mortgage deals, easing some of the pressure on hard-pressed homeowners.

Halifax, part of Lloyds Banking Group – the UK’s biggest mortgage lender – is reducing rates by up to 0.71 percentage points from Friday. That means a five-year fixed rate currently priced at 6.10% will be offered at a rate of 5.39%.