Published 24 days ago • loading... • Updated 22 days ago

Nationwide, Halifax, Virgin Money and TSB issue 'extremely positive' rate cuts

Following the Bank Rate reduction on 8 May 2025 in the UK, several major high street lenders, including Nationwide, Halifax, Virgin Money, and TSB, have implemented additional cuts to their mortgage rates.
These reductions respond to the 0.25% cut in the Bank Rate effective 1 June 2025, with lenders aiming to attract borrowers ahead of an expected additional base rate cut.
The banks cut rates within 48 hours, with Nationwide’s standard mortgage rate lowering by 0.25% to 6.99%, and Halifax, Virgin Money, and TSB reducing rates up to 0.2%.
Ken James of Contractor Mortgage Services called it an "extremely positive" environment, noting the re-emergence of sub-4% deals and a "Bank Holiday bonanza for borrowers".
This wave of cuts is re-igniting the mortgage market, increasing borrower opportunities, and suggesting ongoing lender competition and possible further cuts in coming weeks.

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Nationwide, Halifax, Virgin Money and TSB issue 'extremely positive' rate cuts

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