Mortgage Strategy - Halifax, BM Solutions, TSB and Leeds to raise rates again

Halifax, BM Solutions, TSB and Leeds Building Society are increasing rates tomorrow by up to 20 basis points. At Halifax, remortgage rates on selected two, three and five-year fixed rates are rising by up to 20bps.

Trinity Financial product and communications director Aaron Strutt says: “Halifax has some decent mortgages available but they won’t be around much longer. “The bank has two-year fixed rates starting from below 4.55%, three-year fixes from below 4.6% and five-year fixes from just over 4.50%, but with so many of its competitors increasing rates recently and the cost of funding hikes this rate rise was always going to happen. 

“It does not look like the bank’s two-year tracker rate at just over 4.05% is going up and it is offering increasingly good value for money now. The Halifax premier current account holder rates seem to be around 20bps cheaper than the lender’s standard rates, so if you are looking for a Halifax mortgage and you earn over £100,000 it is well worth opening an account before applying for a mortgage.”

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