A busy day of mortgage rate changes
Banks and building societies have been extremely busy making mortgage rate changes today and there may be more to come over the next few days.
HSBC was the first bank to announce it is increasing its mortgage rates following Santander's withdrawal of its sub-4% mortgages. Here is a summary of the rate changes announced today:
- NatWest is raising rates by up to 0.20% for new and existing customers.
- Atom Bank is increasing by up to 0.20%.
- HSBC rates are increasing with effect from Friday, 23rd December.
- Halifax is lowering some rates with effect from Friday, 23rd December.
- Virgin Money is increasing some rates by up to 0.20%.
- BM Solutions is lowering some of its buy-to-let rates.
- Furness Building Society is withdrawing some rates today.
- Kensington is withdrawing selected residential trackers and fixed-rate products.
- Leeds Building Society is withdrawing selected fixed rates.
- West Brom will be revising its five-year fixes.
- Suffolk Building Society is lowering some rates by up to 0.55%.
Aaron Strutt, product director at Trinty Fiancial, says: "All of these changes highlight how important it is for borrowers to secure a rate when they can. Rates are constantly changing at the moment, and we are going through a cycle of price hikes.
"It seems likely the other big providers will make changes over the coming days given the increase in the cost of borrowing. Halifax is bucking the trend by lowering its rates as its competitors are putting them up."
Call Trinity Financial on 020 7016 0790 to secure a mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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