UK mortgage rates following Trump’s Tariffs

Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.

This has spurred a bit of a ‘mortgage rate war’ with UK lenders who are cutting rates to give them a competitive edge. Over the last few days, there have been several smaller banks and larger lenders who have slashed rates to less than 4%. Although these products do have specific criteria, some are available to those with a smaller deposit.

Despite initial concern following Trump, freezing worldwide tariffs at 10% for 90 days, the announcement could be seen as a silver lining for homeowners and homebuyers.

Financial markets and economists are predicting that the Bank of England will reduce its base rate three or four times over the next 12 months (at the beginning of the week there were just two predicted drops). However, due to the volatility within the mortgage market, and the uncertainty following the fallout from the US tariffs, we cannot be certain whether this will happen, and will have to see how things develop.

If you are on a fixed-rate mortgage, we suggest planning ahead and if you are looking to purchase a new property, we recommend securing a rate at the earliest point.

At Mortgage Required, not only do we have access to whole of market, meaning we can see lenders that aren’t available to everyone, but we also regularly review your rate up until the point of completion and if there is a better rate, we switch you. Get in touch with our expert team: 01628 507477.