13 lenders cut mortgage rates as experts say we could be seeing beginnings of a rates war

, offering tentative signs that pressure on homeowners may be beginning to ease as competition returns to the market.

HSBC, Nationwide and TSB have already cut rates this week after the latest data on inflation was better than expected, despite the Bank of England raising the base interest rate for a 14th successive time last week., but warned that rates are unlikely to return to the lows seen earlier this year.: “We are seeing the beginnings of a rates war. There is tougher competition in the market.”

“The inflation data last month has seen the expected peak for base rate ease back which has reduced the outlook for rates and gives room for lenders to cut their fixed rates.

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