Mortgage Strategy - Barclays, Halifax and BM raise rates by up to 30bps

Barclays, Halifax and BM Solutions have announced another round of rate hikes with some deals jumping by as much as 30 basis points tomorrow.

At Barclays, a 10-year fixed at 60% LTV with a £999 fee will rise by 30bps, from 5.12% to 5.42%.

Trinity Financial product and communications director Aaron Strutt says: “Barclays and Halifax have kicked off the week with more rate hikes.

“Hopefully the market will calm down soon because the changes have been constant.  The Barclays remortgage rates were pretty cheap, so it isn’t a surprise they went up. Halifax will only have a few sub-5% fixes after this change and they are available to borrowers with a 40% deposit.

“It is interesting that Halifax is pulling the 1.5-year fixes, because these rates were popular with borrowers who thought rates were going to get cheaper over the near term and did not want to lock in for two or five years.”

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