What’s happening to mortgage rates? Investec and Halifax lower rates while Barclays pulls its sub-4% fix
High street lender Barclays has announced it will increase selected purchase and remortgage fixed rates, with its sub-4% deal among those being changed.
Barclays said the rate changes would take effect on 2 April. Within its purchase range, 11 products, including premier products and green home deals, will see their rates rise.
Investec has announced it is lowering its fixed rates and mortgage arrangement fees. The private bank offers a choice of two, three, four, and five-year fixes, all priced just over 4.5% for those with a 40% deposit. The lender used to charge a 1% arrangement fee for residential mortgages, but it has lowered it to 0.5%. The self-build mortgage arrangement fees have reduced from 1.50% to 1% of the mortgage amount.
Halifax for Intermediaries has lowered rates on selected fixed-rate remortgage products by as much as 0.16% and increased rates by up to 0.14% on selected fixed-rate products.
Aaron Strutt, product director at Trinity Financial, says: "Mortgage rates have been relatively stable over the last month, and many lenders have improved their fixed-rate prices.
"Even though Barclays is pushing its prices, the mortgages will not be much more expensive. The bigger banks and building societies still typically offer borrowers the most competitively priced rates, providing they have a clear credit history."
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The information contained within was correct at the time of publication but is subject to change.
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