What changes are major mortgage lenders making to their loans?
Several lenders have increased their mortgage rates in recent days, with more signalling they are set to follow.
Britain’s biggest mortgage lenders have already made, or are set to make hikes to the fixed rates they are offering amid the changing financial market.
Here is what has been said:
– Santander UK: The lender will increase rates by up to 0.24 percentage points on Wednesday. It is making increases to its new business first-time buyer, home mover, large loan, remortgage and buy-to-let rates.
– Barclays: Barclays has confirmed that it will hike some rates from Tuesday. The bank is changing rates on a selection of products in its residential purchase and remortgage ranges.
– Halifax/Lloyds: New rates will also be live from Tuesday across Halifax and Lloyds. Rate increases are expected on two, three and five-year fixed and tracker products.
– TSB: The lender will make selected product changes on Tuesday across residential and buy-to-let ranges. Several of its rates are increasing by up to 0.15 percentage points. It is also reducing cashback and increasing a rate by up to 0.50 percentage points on a remortgage deal.
– NatWest: The bank increased its rates on Saturday. Changes included a five-year remortgage deal at 75% LTV (loan to value), increasing from 4.20% to 4.22%, with no product fee.
A five-year remortgage loan at 60% LTV, increased from 3.91% to 3.94%, with a product fee of £995.
– HSBC UK: The bank increased rates on Friday, including for first-time buyers, home movers and people remortgaging.
– Nationwide Building Society: Nationwide increased its rates on Friday, making rate changes across some two, three, five and 10-year fixed-rate products. Some rates were increased by up to 0.25 percentage points.
