Mortgage Strategy - HSBC UK to hike mortgage rates from next week

HSBC UK will be increasing rates across its ranges from 7 September, though it has not yet said by how much.

These will apply to residential first-time buyers, home movers, remortgagors, buy-to-let and more.

Trinity Financial product and communications director Aaron Strutt said: “HSBC is the first of the big lenders to announce rate hikes following the rise in borrowing costs. It seems likely other lenders will push up their prices soon, so it is not the time to hold off submitting an application or reserving a fixed rate if you are buying a property or due to remortgage.”

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