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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.”

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”.

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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.

Mortgage rates have gradually eased in recent weeks and in December the average two-year deal dipped below 6% for the first time in nearly six months.

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Why Tommy Robinson rally was different to any other

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Why Tommy Robinson rally was different to any other

This was the biggest nationalist rally in recent memory – perhaps ever.

Well before the march started, thousands of people flowed over Blackfriars bridge, or came up from Waterloo station, flags everywhere, hailing from everywhere – from Yorkshire roses to the diamond of the Isle of Wight.

What exactly it was that “United the Kingdom” was left vague, for people to cheer their own particular cause.

This was billed as a free speech rally and the most common chants we heard were “Keir Starmer’s a w*****r”, “oh Tommy Tommy” and “we want our country back”.

That means different things to different people.

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As it happened: Thousands attend ‘Unite the Kingdom’ rally

Dawn, up from Southampton and wearing a red sequined jacket, said it was because the country was “getting overrun”. She said she was talking only about illegal migration.

Others didn’t draw that distinction.

Danny from south Birmingham was holding a sign that said: “Send them Back” – and said he was unhappy with migration “in general”. He came to “stand up for what we believe in, the religion and identity of our country”.

That’s been a difference with this rally compared to past ones I’ve covered – an overt Christian nationalism.

People carried wooden crosses. One person had a light up crucifix.

Protesters from the 'Unite the Kingdom' rally hold crosses. Pic: Reuters
Image:
Protesters from the ‘Unite the Kingdom’ rally hold crosses. Pic: Reuters

When the crowd arrived at Whitehall, they were led from the stage in a chant of ‘Christ is king’. And then a public recital of the Lord’s Prayer shortly after that. It’s an important difference. Not just a flag to rally around, but a religion too.

At the centre of it all, the anti-Islam activist Tommy Robinson.

When Robinson took the stage, it was more like a football match or festival than a political rally.

“We rode the storm, we weathered the storm, and today we are the storm,” he shouted hoarsely.

Katie Hopkins and Tommy Robinson take part in the "Unite the Kingdom" rally. Pic: PA
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Katie Hopkins and Tommy Robinson take part in the “Unite the Kingdom” rally. Pic: PA

That’s not much of an exaggeration, not when Elon Musk, the world’s richest man, made a virtual appearance to back Robinson.

Other speakers included those who can be uncontroversially classed as far right. And thugs clashed violently with police.

And it’s clear that simply writing off protestors as far right doesn’t really capture what’s going on either. The audience is too broad to fit just that label.

The tinderbox summer of protest promised by activists never really caught flame. Instead, there has been the slow, steady burn of nationalism.

This was its culmination but also, those here hoped, the beginning of something even bigger.

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25 arrested and officers injured – as up to 150,000 people join ‘Unite the Kingdom’ march in London

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25 arrested and officers injured - as up to 150,000 people join 'Unite the Kingdom' march in London

There were 25 arrests in London on Saturday as up to 150,000 people turned up to join a march organised by far-right activist Tommy Robinson.

Protesters forming the “Unite the Kingdom” rally gathered in the centre of the capital, holding Union and St George’s flags.

They heard a series of speeches, including from Mr Robinson, who called it the “biggest freedom of speech” in British history.

Police estimated that between 110,000 to 150,000 attended the event, significantly exceeding the estimates of organisers.

Activists fly flags and carry wooden crosses during the 'Unite the Kingdom' march in London. Pic: Reuters
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Activists fly flags and carry wooden crosses during the ‘Unite the Kingdom’ march in London. Pic: Reuters

An anti-racism counter-protest, attended by about 5,000 campaigners, also took place, with the two groups clashing on Whitehall and Trafalgar Square, separated by lines of police.

There were 25 arrests made, with many more likely, the Metropolitan Police said, adding that officers faced “significant aggression” from “Unite the Kingdom” attendees.

“The violence they faced was wholly unacceptable,” police said.

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“26 officers were injured, including four seriously – among them broken teeth, a possible broken nose, a concussion, a prolapsed disc and a head injury.”

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Protesters clash with police

Police said the Robinson crowd was too big to fit into Whitehall and confrontation happened when police tried to stop them from encircling counter-protesters and accessing the area from different routes.

A spokesman said: “When officers moved in to stop them, they faced unacceptable violence. They were assaulted with kicks and punches. Bottles, flares and other projectiles were thrown.

“Nine arrests have been made so far for various offences, but many more people have been identified as committing offences. We will find them and they will face police action, even if it is not possible to do so today.

“Officers are continuing to face aggression in multiple locations, in particular at the north of Whitehall as they work to create a safe exit route for those who have been taking part in the Stand Up To Racism protest.”

Home Secretary Shabana Mahmood condemned “those who have attacked and injured police officers” during the protests, promising anyone taking part in criminal activity will “face the full force of the law”.

'Unite the Kingdom' protesters in Trafalgar Square. Pic: Reuters
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‘Unite the Kingdom’ protesters in Trafalgar Square. Pic: Reuters

Protesters in Whitehall. Pic: Reuters
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Protesters in Whitehall. Pic: Reuters

Activists take part in the March Against Fascism, organised by Stand Up To Racism. Pic: PA
Image:
Activists take part in the March Against Fascism, organised by Stand Up To Racism. Pic: PA

Musk makes surprise appearance

Robinson live-streamed the rally on X, with its audience peaking at 2.9 million viewers on Saturday afternoon.

Making a surprise appearance via video link, tech billionaire Elon Musk called for a “change of government” in the UK.

“You can’t – we don’t have another four years, or whenever the next election is, it’s too long,” Musk told the crowd. “Something’s got to be done. There’s got to be a dissolution of parliament and a new vote held.”

TV presenter Katie Hopkins also spoke after earlier appearing alongside Robinson, Lawrence Fox and Ant Middleton at the front of the march.

Katie Hopkins and Tommy Robinson at the rally. Pic: PA
Image:
Katie Hopkins and Tommy Robinson at the rally. Pic: PA

‘Revolution has started – you can’t stop it’

With a voice which sounded hoarse from shouting, Robinson told crowds during his speech that “millions” had showed up for the rally.

“The dam has well and truly burst,” he said. “The cat is out of the bag and there is no putting it back in. The silent majority will be silent no longer.”

Addressing Sir Keir Starmer and the Labour government, Robinson said: “The revolution has started – and you can’t stop it.”

Referring to a Court of Appeal decision to overturn an injunction blocking asylum seekers being housed at The Bell Hotel in Epping, Essex, Robinson claimed UK courts found the rights of undocumented migrants supersede those of the “local community”.

He said: “They told the world that Somalians, Afghanis, Pakistanis, all of them, their rights supersede yours – the British public, the people that built this nation.”

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Sikh woman raped in ‘racially aggravated attack’ speaks out

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Sikh woman raped in 'racially aggravated attack' speaks out

A Sikh woman who was raped in a “racially aggravated attack” in the West Midlands says she “would never wish this on anyone”.

Police were called just before 8.30am on Tuesday after the woman, who is in her 20s, reported being attacked by two white men in the area around Tame Road in Oldbury.

The Sikh Federation (UK) said the perpetrators allegedly told the woman during the attack: “You don’t belong in this country, get out.”

The woman, who is entitled to anonymity as the victim of a sex offence, issued a statement through community group Sikh Youth UK.

Thanking everyone for their support, she said: “We are going through a lot, but the strength and kindness shown by the right people in the community has been incredible and I can’t thank them enough for being my voice.

“I would never wish this on anyone. All I was doing was going about my day on my way to work, and what has happened has deeply affected us.”

Calling her family her “rock,” she went on: “The police are doing their best to find those responsible, and I truly hope they are caught so that this doesn’t happen to anyone else.”

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She said she was “truly humbled” by the love and support she’d received.

She added: “I want to personally thank my family, Sikh Youth UK, who have been so supportive, the local Gurdwara committees and Sikh orgs, and everyone in my community who has stood by me. I cannot thank you enough for helping me get through this difficult time.”

An emergency meeting was later held at the Guru Nanak Gurdwara temple in Smethwick, a few miles from Oldbury, following concerns within the community.

Police are still trying to identify the perpetrators of the attack, which they say is being treated as “racially aggravated”.

Officers said CCTV, forensic and other enquiries are well underway, but have appealed for anyone in the area who may have seen the men, or have any further information, to contact the force.

One of the men is described as having a shaved head, of heavy build, and was reported to be wearing a dark coloured sweatshirt and gloves.

The second man was reportedly wearing a grey top with a silver zip.

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