HSBC has become the latest lender to cut mortgage rates amid predictions that more banks and building societies will follow suit in the coming weeks.
The high street bank said its new deals will be introduced on Thursday. They will include a two-year fixed remortgage rate of 4.49% and a five-year deal of 3.94%.
First Direct, a division of HSBC, is also set to announce mortgage rate cuts on Friday.
A HSBC spokesperson said: “Our new fixed mortgage rates will see significant cuts across the board which will be a welcomed move.
“Specifically, for customers wishing to remortgage, our rates will start from 3.94% for a five-year deal at 60% LTV [loan-to-value] with a £999 fee.”
It comes after Halifax, the UK’s largest mortgage provider, reduced its rates by up to 0.83 percentage points on Tuesday, including a two-year deal of 4.68% with a £999 fee.
Lloyds Banking Group, which owns Halifax, said its Club Lloyds division had also cut its rates by the same amount.
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Start of mortgage price war?
Meanwhile Leeds Building Society announced it had “decided to start strong in 2024” by reducing rates across its mortgage range by up to 0.49 percentage points.
Matt Bartle, the building society’s director of products, said: “In 2023 the mortgage market was constrained due to the ongoing pressure of the increasing cost of living, but as a lender we want to play our part to try to overcome the hurdles people face and help more people into homeownership.”
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The UK’s average two-year fixed mortgage rate was 5.92% on Wednesday, down from 5.93% the day before, according to figures from Moneyfacts. It said the average five-year rate also dipped to 5.53%.
It comes amid expectations the Bank of England will cut interest rates this year as inflation falls.
Several other lenders cut their rates just before Christmas – including Barclays, which reduced its deals by up to 0.43 percentage points.
Nationwide said its mortgage rates were under “regular review”, while Virgin Money told Sky News it “monitor[s] the market closely”.
David Hollingworth, associate director at L&C Mortgages, said: “These cuts are just the latest salvo in an increasingly fast-moving market…
“These cuts follow hot on the heels of new year improvements by Halifax and others will be bound to follow suit. We thought the new year would start with a bang and that’s proving to be the case.”
Aaron Strutt, product director at Trinity Financial, said: “The lenders will want to have the strongest possible start to the year.
“It seems highly likely that more banks and building societies will improve their rates over the coming weeks and fight it out to offer the cheapest deals.”
Simon Bridgland, director of mortgage broker Release Freedom, also told The Times that Halifax’s move could be the “start of a manic week” of rate cuts.
Casinos sponsoring two Premier League clubs are accepting UK customers without a licence, putting club officers at risk of prosecution, Sky News has learned.
The gambling websites, BC.Game and DEBET, are the matchday shirt sponsors of Leicester City and Wolverhampton Wanderers, respectively.
But an investigation by anti-gambling advert campaigners, shared with Sky News, suggests the casinos have continued to accept UK customers – despite this becoming unlawful after they lost their licences to operate in the UK.
DEBET lost its licence on 15 May, while BC.Game lost its licence in December 2024.
Neither club has indicated that they intend to end the sponsorships, despite criticism from campaigners and warnings from the Gambling Commission.
With the end of the 2024/25 season this weekend, both clubs are now half-way through two-year sponsorship deals with the casinos – putting them in a difficult position for next season.
The campaign group Coalition to End Gambling Ads (CEGA) told Sky News it was able to make deposits on both gambling websites, despite the sites having no licence to accept UK customers.
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CEGA also successfully deposited cash on Burnley FC sponsor 96.com. Burnley are due to be promoted to the Premier League next season.
The findings come one week after the Gambling Commission warned five football clubs, including Wolverhampton and Burnley, that their officers “may be liable to prosecution and, if convicted, face a fine, imprisonment or both if they promote unlicensed gambling businesses that transact with consumers in Great Britain”.
The Commission had issued a similar warning to Leicester City in February.
It made clear then that the clubs must either cut ties with the casinos or ensure they are not accessible to UK customers “by any means” – including virtual private networks (VPNs) – software used to hide a user’s real location.
Other than the need to use a VPN, CEGA director Will Prochaska says it “really wasn’t very difficult” to access the sites.
The Gambling Commission declined to be interviewed by Sky News, but said that “where we have evidence that meets the standard for criminal prosecution we will take appropriate action”.
Head of enforcement at the Commission John Pierce previously said the body would “conduct ongoing spot checks as necessary to ensure they are not accessible to consumers in Great Britain by any means”.
Mr Prochaska, however, said the Commission was taking “far too long” to take action.
“Far too many children, far too many football fans, are seeing these adverts every day,” he said. “It’s got to stop.”
Leicester City’s sponsor has had no UK licence for almost six months
The three sites that appear on the matchday shirts of Leicester, Wolves and Burnley were previously licensed by TGP Europe, a company based on the Isle of Man.
On 15 May, TGP Europe surrendered its UK gambling licence to avoid a £3.3m fine, leaving DEBET and 96.com unable to legally accept UK customers.
Leicester City sponsor BC.Game has been unlicensed in the UK since it parted ways with TGP Europe in December 2024 – almost six months ago.
Image: Jamie Vardy celebrating scoring for Leicester City last December.
Pic: PA
Mr Prochaska said he contacted Leicester City on 13 March to alert them that BC.Game was still accepting UK customers.
“In fact, it was one of the easiest for me to gamble on – there were very few checks whatsoever,” he says. “But Leicester don’t seem to have done anything about it, and it’s still on the front of their shirts.”
Leicester City FC did not respond to a request for comment.
Sky News was able to sign up to every single site
Bournemouth, Fulham and Newcastle United are also sponsored by casinos that were formerly licensed by TGP Europe, but have been unlicensed since 15 May.
These casinos (bj88, SBOTOP and FUN88) are no longer able to legally accept UK customers.
However, Sky News was able to use a VPN to sign up to all three casinos, as well as those sponsoring Leicester City, Wolverhampton and Burnley.
On all six websites, Sky was able to access QR codes for making cryptocurrency deposits. Sky News did not attempt to make any deposits.
All six casinos are forbidden by law from accepting UK customers.
Yet Burnley sponsor 96.com allowed Sky News to sign up using a Telegram account registered to a UK phone number.
The other websites all required phone numbers to be entered upon registration, which could be used as an additional layer of security to filter out UK customers.
However, most of the websites did not check whether the phone number provided was genuine.
Only one website, Leicester City sponsor BC.Game, did check.
However, after confirming the phone number’s authenticity, BC.Game allowed registration to proceed – even though Sky News had provided a UK phone number.
Sky News presented these findings to the football clubs concerned, to TGP Europe and to the Gambling Commission, but did not receive any comment.
Anyone concerned about their gambling, or that of a loved one, can visit BeGambleAware.org for free, confidential advice and support, or The National Gambling Helpline is available on 0808 8020 133 and operates 24 hours a day, seven days a week.
The Data and Forensics team is a multi-skilled unit dedicated to providing transparent journalism from Sky News. We gather, analyse and visualise data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite images, social media and other open source information. Through multimedia storytelling we aim to better explain the world while also showing how our journalism is done.
Alan Yentob, the former BBC presenter and executive, has died aged 78.
A statement from his family, shared by the BBC, said Yentob died on Saturday.
His wife Philippa Walker said: “For Jacob, Bella and I, every day with Alan held the promise of something unexpected. Our life was exciting, he was exciting.
“He was curious, funny, annoying, late, and creative in every cell of his body. But more than that, he was the kindest of men and a profoundly moral man. He leaves in his wake a trail of love a mile wide.”
Yentob joined the BBC as a trainee in 1968 and held a number of positions – including controller of BBC One and BBC Two, director of television, and head of music and art.
He was also the director of BBC drama, entertainment, and children’s TV.
Yentob launched CBBC and CBeebies, and his drama commissions included Pride And Prejudice and Middlemarch.
Image: Alan Yentob (left) with former BBC director general Tony Hall in 2012. Pic: Reuters.
The TV executive was made a Commander of the Order of the British Empire (CBE) by the King in 2024 for services to the arts and media.
In a tribute, the BBC’s director-general Tim Davie said: “Alan Yentob was a towering figure in British broadcasting and the arts. A creative force and a cultural visionary, he shaped decades of programming at the BBC and beyond, with a passion for storytelling and public service that leave a lasting legacy.
“Above all, Alan was a true original. His passion wasn’t performative – it was personal. He believed in the power of culture to enrich, challenge and connect us.”
BBC Radio 4 presenter Amol Rajan described him on Instagram as “such a unique and kind man: an improbable impresario from unlikely origins who became a towering figure in the culture of post-war Britain.
A mother and three of her children who died in a house fire in northwest London have been named by police.
Warning: This article contains pictures of a fire in which people died
Detectives say Nusrat Usman, 43, Maryam Mikaiel, 15, Musa Usman, eight, and Raees Usman, four, died following the fire in Stonebridge, near Wembley, in the early hours of Saturday.
A 41-year-old man was arrested at the scene and has since been bailed. He was subsequently detained under the Mental Health Act.
Image: The blaze gutted two homes in Stonebridge
Flowers and a blue teddy bear have been left near the scene, where crews wearing helmets and respiratory equipment were seen building scaffolding against the burnt-out buildings.
Neighbour Cecilia Marquis, 60, said she was “stunned by the devastation”.
“This will leave a devastating impact,” Ms Marquis, who witnessed the fire, said.
Witness Mohamed Labidi, 38, said he “can’t even look at the house right now”.
“We used to socialise together.
“They’re very good people, no problems on their side at all. It’s really shocking. It’s a really strong community here, we look after each other.”
A neighbour, who asked not to be named, said: “It’s horrible, we saw people running outside.
“It’s hard to process. I only just moved in, so it’s hard to think about it.”
Eight fire engines and around 60 firefighters responded to the blaze, London Fire Brigade (LFB) said.
Two terrace houses, each with three floors, were severely damaged in the fire, which was under control by around 3.25am, the fire service added.
Superintendent Steve Allen, from the Met’s local policing team in northwest London, said: “Our thoughts go out to all those impacted by what has happened.
“Specialist officers are continuing to support the wider family who have asked for privacy at this deeply upsetting time.
“Local officers are working closely with officers from the Specialist Crime Command on what continues to be a very complex investigation.”
Mayor of London Sadiq Khan said in a post on X: “This is devastating news and my thoughts are with the family, friends and wider community of the four people who sadly have lost their lives.
“I remain in close contact with the London Fire Brigade and Metropolitan Police as they work to establish the cause of the fire and offer support to all those impacted.”
This breaking news story is being updated and more details will be published shortly.