Mortgage Strategy - Barclays, Halifax, HSBC and TSB hike rates by up to 20bps

Major lenders including Barclays, Halifax, HSBC and TSB are raising rates by up to 20 basis points tomorrow.

In the first few hours of business, many of the largest lenders have emailed brokers to notify them of the latest rate increases, including to tracker deals.

Trinity Financial product and communications director Aaron Strutt says: “This Halifax rate change probably means that Lloyds will be pushing up its cheap fixes as well, which undercut virtually all of the other lenders by quite some margin

“We are starting to see most of the lenders raising their fixes and Halifax is even making its trackers more expensive which means it will no longer off a sub-4% variable rate deals. We can probably expect a few more rate changes over the next few days, so it is unlikely to be worth holding off booking a rate if you are buying somewhere or remortgaging.

“The continuation of the war in Iran is not good news for many reasons, and it certainly does not help bring any calm to the money markets."

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