Santander, Barclays, TSB and Halifax cut home loan rates | Personal Finance | Finance [Video]

High street banks are shaving interest rates on new home loans for both buyers and people looking to remortgage ahead of punishing increases in Stamp Duty crunch

Santander, Barclays, TSB and the Halifax are reducing rates on new deals after some others cut the cost of new home loans earlier this week.

The falls are good news for people looking to push through a purchase ahead of increases in stamp duty which come into effect in April and will add thousands of pounds to the cost of buying.

Mortgage brokers have welcomed the reductions with some hoping fixed rate deals could drop below 4 percent in the coming weeks, however industry experts say Britons face having to wait until next year for more significant cuts.

Any reduction in loan rates will help those trying to remortgage, however many in this group will find they have to pay significantly more than under …