According to the latest MoneyFact Rate Watch, fixed rate mortgage reductions have been a priority this week, with the city of Santander standing out with a reduction of up to 0.36%.
However, as Moneyfacts financial expert Rachel Springall points out, not many lenders have adjusted their ranges. As well as cuts, there were also some increases, product launches and withdrawals elsewhere. The average of 2-year fixed interest rates and 5-year fixed interest rates remained unchanged from the previous week. 
Notable stocks cutting certain fixed rates this week include Santander Bank by up to 0.36%, Barclays Bank by up to 0.30%, Lloyds Bank and Halifax Bank by up to 0.10%, but both banks have Interest rates were raised by up to 0.12%.
This week, building societies also made some interest rate changes, with moves to reduce fixed rates by up to 0.10% for Nottingham Building Society, up to 0.35% for Darlington Building Society and up to 0.05% for Leeds Building Society, although , also introduced some new fixed interest rates. Good value.
There were also some new fixed deals launched by Loughborough Building Society at 95% loan-to-value. In contrast, Principality Building Society has increased selected rates by up to 0.17%, but has also launched some new fixed deals. Finally, West Brom Building Society has withdrawn some of its short-term fixed products.
Notably, several more lenders have moved to lower rates, including M Powered Mortgages up to 0.30% and Kensington up to 0.20%, while some fixed rates have also been withdrawn.
“Some notable deals have surfaced this week,” Springall said. There is no charge for the product only for the appraisal. This can be an attractive option for people with a limited down payment and who want to minimize the initial costs of a mortgage. ”
He added: “The mortgage market has been on a positive note over the past few days, but swap rates are rising due to the Budget.” Fixed mortgage rates typically track swaps relatively closely, so volatility can be an indicator of the next move in interest rates, but it may take weeks for lenders to factor this in. However, each lender sets its own year-end goals. Instead, more focus could be placed on next week's interest rate setting decision by the Bank of England to reprice in the short term. ”
