{"id":110902,"date":"2025-10-31T16:04:17","date_gmt":"2025-10-31T16:04:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/110902\/"},"modified":"2025-10-31T16:04:17","modified_gmt":"2025-10-31T16:04:17","slug":"holidays-blow-as-pound-takes-another-battering-money-blog-money-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/110902\/","title":{"rendered":"Holidays blow as pound takes another battering | Money blog | Money News"},"content":{"rendered":"

Every Friday, we take an overview of the mortgage market with industry experts and round up the best rates with\u00a0Moneyfactscompare.co.uk<\/a>.\u00a0<\/p>\n

Mortgage “prisoners” could now “break free” from their high variable rates as cuts to fixed rate deals look set to continue.\u00a0<\/p>\n

Several major lenders made reductions this week, as competition heats up across the market.\u00a0<\/p>\n

NatWest moved to cut fixed rates by 0.21%, with a similar drop of 0.2% made by TSB.\u00a0<\/p>\n

Slightly smaller cuts were made by HSBC of 0.07% and from Halifax and Lloyds Bank of 0.13%, with Barclays joining the fray, cutting by up to 0.13%.<\/p>\n

“Over recent weeks, borrowers may be pleased to see mortgage rates have been on a downward trend, and it looks promising for more fixed rate cuts to continue due to swap rate moves (which lenders watch very closely to re-price their loans),” said Rachel Springall, finance expert at Moneyfacts.<\/p>\n

“Now is a great time for anyone looking for a new deal to seek advice from a broker to assess the latest options.\u00a0<\/p>\n

“Mortgage prisoners who have not been able to borrow more could now break free of their costly variable rate mortgage and secure a lower fixed rate deal.”\u00a0<\/p>\n

Here’s a look at the cheapest deals on the market…\u00a0<\/p>\n

Moneyfacts also rounds up the top Best Buy deals, which can be the more cost-effective option if you are looking to save on the upfront price of your mortgage…\u00a0<\/p>\n

Outside of rate moves, the latest Money and Credit statistics from the Bank of England revealed a rise in house purchase activity in September.\u00a0<\/p>\n

However, remortgage activity fell for another month.\u00a0<\/p>\n

“As we get closer to the end of the year, there will still be some borrowers looking to remortgage, and those still locked into a fixed deal could still agree a new one in readiness for when a fixed term expires,” Springall added.\u00a0<\/p>\n

“There will be borrowers sitting on the fence until the budget, and others stuck due to a short supply of affordable housing.\u00a0<\/p>\n

“Depending on the area of the UK, house prices may be stretching borrowers searching for a new deal, so it’s important to try to increase their deposit or build up more equity in their home to make up the difference.”\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Every Friday, we take an overview of the mortgage market with industry experts and round up the best…\n","protected":false},"author":2,"featured_media":110903,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":{"0":"post-110902","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/110902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=110902"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/110902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/110903"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=110902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=110902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=110902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}