HSBC cut some selected fixed rates by up to 0.14 percentage points, with two-year deals from 4.96% and five-year deals at 4.99%, while NatWest cut by up to 0.17 points, bringing five-year deals to 4.95%. These reductions follow sharp increases in early October, when some lenders raised rates by 0.15% to 0.30% and Moneyfacts reported average five-year fixed rates hitting 6%. Some analysts say the cuts mainly reverse those earlier hikes rather than signal a sustained downward trend, as rates can reverse quickly amid geopolitical events or surprising inflation data. Borrowers are advised not to delay decisions in hope of a sharp drop before Christmas, and instead to compare total costs, including fees and exit charges.
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