More mortgage deals set to fall below 4% within weeks after Trump tariff blitz ...0

More providers are expected to cut rates to below 4 per cent in the coming months, in good news for homeowners and first-time buyers.

Experts say this is likely to prompt central banks such as the Bank of England to cut their lending rates faster than previously predicted, in order to limit the economic impact and attempt to boost growth.

Some mortgage lenders are already offering rates below 4 per cent – but these are usually only reserved for a small number of customers that have large deposits or equity in their home.

David Hollingworth, associate director at L&C Mortgages, said: “The view of financial markets is that the Bank of England will cut interest rates more quickly, so swap rates have dropped quite substantially and if they stay at that level we would expect mortgage rates to fall.

“This movement could potentially be within a couple of weeks. What we will likely need to see is one or two lenders cutting and then others will follow. We could see more sub-4 per cent rates available.”

Previously, two cuts this year, taking interest rates to 4 per cent, was the expectation. This shift is what has caused swap rates to fall.

Lewis Shaw, a mortgage broker at Shaw Financial Services said: “I think we could see some rate reductions. Lenders will want to get their business up especially after the stamp duty rush.”

Estate agents have previously said that increased stamp duty could cause a “chill” for the housing market, and lenders might want to attract people to buy by offering better mortgages rates.

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Justin Moy, of EHF Mortgages, said: “Whilst swaps took a quick dip after the Trump tariff announcement, lenders will remain cautious that its not an immediate overreaction, and that we don’t see a similar bounce back to the swap rates we had at the start of the week.

Multiple mortgage lenders, including Lloyds and First Direct, are offering rates below 4 per cent at the moment. But these deals all require customers to have a 40 per cent deposit or equity in their home.

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