Borrowers face diverging mortgage paths as lenders split on rate moves

Mortgage applicants now face a split market where timing and lender choice directly determine borrowing cost trajectory. Rely, part of OneSavings Bank, has cut rates across its fixed-term range: the one-year fixed rate drops 0.54 percentage points to 3.68%, the two-year to 3.80% (also down 0.54 points), and the five-year to 4.73%, a reduction of 0.49 points. These reductions apply to both standard and limited edition products. Leeds Building Society is moving in mixed directions—raising some residential fixed rates while reducing others. Selected limited company buy-to-let fixed rates fall by up to 0.23%, and affordable housing fixed rates drop by up to 0.35%. The society is also extending residential and interest-only mortgage end dates to July. Meanwhile, Clydesdale is increasing select product transfer rates: Core Residential two- and five-year fixed rates rise by up to 0.28%, and Core Buy to Let equivalents by up to 0.63%. To lock in current rates, applicants must submit by 8pm on 13 April. The lender is aligning its product end dates to 31 July of the relevant year. Borrowers face diverging mortgage paths as lenders split on rate moves.