Barclays, Halifax, HSBC and TSB Raise Mortgage Rates by Up to 20 Bps
Updated
Updated · Mortgage Professional · Jul 20
Barclays, Halifax, HSBC and TSB Raise Mortgage Rates by Up to 20 Bps
2 articles · Updated · Mortgage Professional · Jul 20
Summary
From July 21, Barclays, Halifax, HSBC and TSB will lift residential and buy-to-let mortgage rates, with the biggest increases reaching 20 basis points across fixed and tracker products.
Barclays is raising most residential purchase, remortgage and product-transfer deals by 15 to 19 bps; its five-year 85% LTV tracker climbs to 4.75% from 4.55%, while an EMC Reward two-year fix rises to 4.96%.
Halifax is increasing all two-, three- and five-year fixed rates for home movers and first-time buyers by up to 20 bps, while TSB is lifting selected residential rates by up to 20 bps and buy-to-let by 15 bps.
Market pricing is already moving higher: Moneyfacts said the average two-year fixed rate rose to 5.51% from 5.46% in a week, and the average five-year fixed rate increased to 5.53% from 5.48%.
Brokers said Halifax's move could foreshadow wider repricing, with Aaron Strutt of Trinity Financial citing the Iran war as a factor unsettling money markets and warning more lender increases may follow within days.