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The Guardian - UK
The Guardian - UK
Business
Hilary Osborne

Three UK banks announce cuts to cost of fixed-rate mortgages

United Kingdom Barclays Bank HSBC TSB
Row of houses on a street, with a 'sold' sign outside first house
The cuts are predicted to give a boost to the housing market. Photograph: Yui Mok/PA

Three UK banks have announced cuts to the cost of fixed-rate mortgages, reversing some of the price rises seen in recent weeks.

Barclays Bank has announced it will reduce the price of five-year fixed-rate deals for new borrowers and remortgagors by up to 0.45 percentage points from Friday. Its five-year fixed-rate for borrowers with a 40% deposit is decreasing from 4.47% to 4.34%.

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