Four major lenders slash mortgage rates ahead of Bank of England decision this week [Video]

FOUR major lenders are reducing mortgage rates ahead of a key Bank of England decision this week.

Barclays, Coventry Building Society and Yorkshire Building Society have all dropped rates on a range of deals.

Barclays has cut rates on purchase and remortgage products by up to 0.25 percentage points.

For example a two-year fix with a loan-to-value (LTV) of 85% will drop from 5.04% to 4.79% with a £899 fee.

The LTV is the ratio of your mortgage compared to the value of your property.

The same deal with no fee is dropping from 5.23% to 4.99%.

Halifax, part of Lloyds Banking Group which is the UK’s biggest mortgage lender, is also slashing rates by up to 0.3 percentage points tomorrow.

Product transfers, home mover deals and some first-time buyer rates are among the reductions.

Meanwhile, CoventryBuilding Society has made reductions across all its fixed …