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Banks battle it out in mortgage price war   The soaraway housing market rekindles memories of 2008 when a lending spree triggered the worst financial crisis for decades 2 June 2021 • 4:57pm Former City dwellers who decided to buy suburban homes with spacious gardens will be feeling smug this week as temperatures soar.  Now, a wave of first-time buyers and cash-rich borrowers will be hoping to join them as competition for preferential rates between banks and building societies heats up.  Lenders’ largesse has helped sustain momentum in a housing market in which prices have risen 10.9pc in the year to May.  Hinkley & Rugby Building Society launched a mortgage of an interest rate of 0.99pc in April. TSB, Platform (the Co-operative Bank’s mortgage arm) and Nationwide have now followed with similar deals.

United kingdomGeorge osborneChris sykesDave ramsdenLewis shawAndrew wishartJonathan hopperRobert payneIain swattonHinkley rugby building societyPlatform the bankShaw financial servicesFinancial policy committeeFormer cityRugby building societyCo operative bank