5 July: Moves Come On Top Of Increases Announced In June
Santander and Halifax, two of the UK’s biggest mortgage lenders, have both increased selected fixed rates again for new borrowers, writes Jo Thornhill.
Halifax has increased fixed rates again for remortgage customers – it follows two rounds of rate increases last week. And Santander previously increased its residential fixed rates for new customers – for remortgage and purchase – on 26 June.
Halifax is now offering a two-year fixed rate for remortgage at 6.21% or a five-year rate at 5.83%, both with a £999 fee (for loan to value ratios of between 60% and 85%). Fixed rates over 10 years start from 5.43%.
Santander has increased fixed rates for residential purchase by up to 0.36 percentage points, while remortgage fixed rate deals have gone up by up to 0.33 percentage points.
It is offering a two-year fixed rate for remortgage at 5.94% and a five-year deal at 5.39%. Both deals require a 25% deposit or equity in the property and charge a £999 arrangement fee.
At the same time Santander has increased its fixed rates for buy-to-let purchase and remortgage by up to 0.37 percentage points.
- Accord Mortgages, part of Yorkshire building society, is increasing the cost of its product transfer fixed rates (deals available to existing customers looking for a new rate) and rates for additional borrowing. Most fixed rates will rise by up to 0.2 percentage points. Fixed rates at higher LTVs (90% LTV and higher) will rise by up to 0.3 percentage points. Current rates, available through brokers, will be withdrawn at 8pm today with new fixed rates available tomorrow (6 July). Accord increased rates for new customers by up to 0.56 percentage points on 29 June
- Aldermore is withdrawing its limited edition buy-to-let product at 6pm tomorrow (6 July). Brokers have been given notice to get all applications for this five-year fixed rate BTL deal in by this time.
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Source: www.forbes.com
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