Barclays to raise rates again, plus hikes from CHL and Notts – Mortgage Strategy
Barclays is raising rates by up to 14 basis points tomorrow, while CHL and Nottingham are also putting prices up this week.
In Barclays’ latest move, prices are set to rise on 79 different products including both residential and buy-to-let deals.
Summarising the changes, Trinity Financial product and communication director Aaron Strutt says: “The good news is the 3.99% two-year tracker and 4.63% three-year fix seem to be staying, the bad news is the best buy 4.49% two-year and 4.53% five-year fixes are going up.”
The biggest increases are on residential purchase-only deals, where a number of 60% and 75% two-year fixed rates are climbing by 14bps.
These include a 60% LTV two-year fixed with an £899, which is jumping to 4.63% and the fee-free alternative, which is rising to 4.83%.
At 75% LTV, a two-year fix with £899 fee increases by the same margin to 4.88% and the fee-free alternative goes up to 5.07%.
Other higher LTV deals are also on the rise.
Some existing residential customer reward rates are climbing by up to 12bps, as well as new customer remortgage deals by up to 11bps.
Many of the lender’s buy-to-let rates will rise by 7bps.
Separately, CHL is pulling its limited edition products today and will be relaunching rates that are 35bps higher tomorrow.
Nottingham Building Society is pushing up retention fixed rates by 25bps on Friday.
So far this week, other major lenders to reprice include Halifax, BM Solutions, TSB, Santander and Clydesdale.
