Nationwide Building Society and Barclays make mortgage rate increases

by Aaron Strutt

Apr 25 2023

Nationwide for Intermediares and Barclays have announced they will be making a selection of mainly rate increases from tomorrow. 

Nationwide will increase some of its fixed rates on Wednesday 26 April for borrowers moving home and first-time buyers by up to 0.25%.

The building society is also increasing its fixed and tracker rates for remortgaging customers by up to 0.45%. 

Barclays has announced it will be lowering the price of its 15% deposit mortgages by up to 0.47%, although it will be increasing many of its market-leading two and five-year fixes. 

Aaron Strutt, product director at Trinity Financial, says: "Barclays lowered the price of many two and five-year fixes earlier this month, so they were priced around the 4% mark. The bank has reversed many of these changes and increased specific deals by 0.32%.

"These rate hikes are likely to be due to an increase in the cost of funding. Most banks and building societies are keen to provide more mortgages and will only raise rates when they have to."

Bank of Ireland is also raising some of its rates, while Accord Mortgages is increasing its two-year fixes by 0.20% but lowering its three-year fixes by 0.10%.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

The information contained within this article was correct at the time of publication but is subject to change.

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