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The building society is the latest to slash rates, after HSBC yesterday and Barclays on Monday. It will be lowering two, three and five-year rates by up to 0.21% tomorrow. It follows a reduction in swap rates - which dictate how much it costs lenders to lend.So what does this mean for the market more broadly? Here's what the experts told Newspage... Emma Jones, managing director at Whenthebanksaysno.co.uk:'They're falling like dominoes now.
'David Stirling, independent financial advisor at Mint Mortgages and Protection:'We've not exactly hit the bargain basement for borrowers just yet but the competition for new business from the banks has definitely heated up this week. For some the Bank of England decision in August is very hotly anticipated and could hopefully lead to an incredibly busy autumn.
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