Financial Times - Rates rise on UK mortgages as lenders look to inflation fallout
Mortgage lenders put up rates across a swath of home loans this week, in the latest sign of expectations of inflation-driven rate rises to come at the Bank of England.
Aaron Strutt, product director at mortgage broker Trinity Financial, told The Financial Times lenders were “anticipating another base rate rise” but also coping with high demand for mortgages for purchase and remortgage as home movers and borrowers attempt to lock in low rates.
Strutt said: “A lot of people are worried about what’s going to happen to their mortgage as rates rise. Lenders are also incredibly busy, so some of them are trying to reduce the number of applications that they get while they catch up with the backlog.”