Biggest banks and building societies still providing mortgages

Barclays, HSBC, Halifax, Santander and NatWest are among the largest lenders offering mortgages to borrowers. However, their fixed rates are much more expensive than before the chancellor's mini-budget. 

Halifax and Barclays have some of the most competitively priced mortgages, but most of their fixed rates are now priced between five and six percent. Cheaper discounted variable and tracker rates are available. Unfortunately, these are likely to become more expensive if another base rate increase expected next month is carried out. 

It has been an incredible period in which borrowers have been rushing to submit mortgage applications before prices increased. Also, the speed at which lenders have pulled out of the market has been quite astonishing.  

Trinity Financial's brokers have secured rates for our clients and will swap them for improved deals if and when they become available. Nationwide is the latest lender to allow existing borrowers to secure a new rate up to six months in advance. 

Nearly 3,000 mortgage products have been withdrawn and over 20 providers have pulled their entire fixed rate mortgage ranges, according to data from Defaqto. Virgin Money and The Mortgage Works have returned to the market, but with a reduced range and more expensive rates. 

Aaron Strutt, product director at Trinity Financial, says: "If you have had an offer accepted on a property, then mortgage rates are available. The difference is the pricing. Some lenders' rates are much more expensive than others. 

“So, it is worth researching the market with Trinity Financial to find the best deals available, especially if you are planning to take on a five or ten-year fixed rate.  

"Our brokers can also submit applications almost immediately, whereas borrowers may have to wait for a mortgage appointment if they approach lenders directly." 

There has recently been more interest in two-year fixed-rate mortgages. This is because borrowers hope that these sudden price rises become a short-term issue. Then, they will be able to remortgage on more acceptable rates in a couple of years.