Average mortgage rates are now at their lowest level since May 2023.

Clydesdale Bank has announced a number of changes to its mortgage rates, with reductions up to 0.71%.

Barclays has made a number of rate reductions across its mortgage range, including for existing customers.

As Generation Z starts to buy, today’s higher rates mean they face mortgage repayments roughly twice those paid by Millennials.

Rory Joseph and Sebastian Murphy, directors at JLM Mortgage Services, discuss the future path of Bank Rate and whether we could see 3% interest rates by the end of 2025.

The lender has reduced residential and buy-to-let rates by up to 0.29%.

Rates now start from 3.59%.

Saffron has reduced rates by up to 0.60% and launched an 85% LTV range, improving affordability for contractors and self-employed borrowers.

The new three-year fixed rate at 3.75% is the lowest rate the lender currently offers across its fixed rate range.

Over one in ten (13%) are not confident in their ability to meet their mortgage repayments over the coming months.