BBC News: HSBC, NatWest and Virgin Money changing interest rates

Aaron Strutt Image

More mortgage providers will increase their rates on new fixed deals on Friday following a series of changes since the start of the year.

January saw lenders cutting their rates sharply, bringing some relief to 1.6 million people set to remortgage this year.

"HSBC's best buy deals were never going last long once Santander pushed up its fixed rates," said Aaron Strutt, of mortgage broker Trinity Financial.

"While they have gone up, [deals] are still reasonably priced. Some lenders now offer two-year fixed-rates priced around 4.4% and five-year fixes priced around 4.2%.

"Lenders have had a busy start to the year and the property market has really picked up. These rate hikes may well start to knock the property sector again if they continue."

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