Fresh round of rate rises imposed by mortgage lenders
Major mortgage lenders have embarked on a fresh round of rate rises, with the interest rate on a typical five-year fixed deal now close to 6%.
Nationwide increased fixed rates, available through brokers, by up to 0.35% on Thursday, a day after HSBC raised its rates by up to 0.55%, and TSB by up to 0.35%.raising its benchmark interest rate from 4.5% to 5%A number of lenders have also raised buy-to-let mortgage rates, which could feed through to tenants in higher rents.
"More of the big banks and building societies are increasing their prices again or pulling their mortgages, which means new borrowers and people looking to remortgage will face even higher repayments.
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