Mortgage rates are set to be cut by some lenders after turmoil from Donald Trump's tariffs raised expectations that UK interest rates could be slashed.
TSB Bank said it will reduce some two-year fixed rate mortgages by up to 0.25 percentage points on Tuesday. MPowered Mortgages also said it would trim rates across a number of its deals.
Financial markets and economists are predicting that the Bank of England will cut interest rates by more than expected this year to avoid an economic downturn. The Bank's main rate stands at 4.5%.
Sarah Coles, head of personal finance at Hargreaves Lansdown, said the Bank of England, and other countries' central banks, "will be really looking to cut interest rates as much as possible in order to support growth".
"And of course mortgage companies start to price that in right away and we've already seen mortgage rates start to fall and we should see plenty of that in the coming days," she added.
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FTSE 100
The UK's flagship share index, the FTSE 100, was up 181-points at 7,785 shortly after opening this morning.
Brent crude oil futures were down 0.70%, trading at $61.15 a barrel.
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