Mortgage Strategy - Nationwide, Virgin and NatWest lift prices

Nationwide will increase selected fixed rates by as much as 0.35%, effective tomorrow (17 March).

This includes rates across its first-time buyer, home mover, existing customers moving home and remortgage products as well as its switcher and additional borrowing ranges.

Commenting on the latest market activity, Trinity Financial product and communications director Aaron Strutt says: “It looks like Nationwide is about to pull the last sub-4% mortgage rates from the market which is a shame because pricing had been heading down and there were some great rates to choose from.”

“While rates have clearly increased, they are not excessively expensive given that HSBC and Halifax have fixed rates priced just over 4% and the best five-year fixes are only a bit higher. Santander has been offering super-cheap sub-3.8% rates but they are being withdrawn today.”

“There are still lenders offering sub-4% tracker rates which are good for borrowers who like flexibility because they often do not have early repayment charges, plus they are cheaper than the best fixed rates at the moment.”

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The information contained within was correct at the time of publication but is subject to change.

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