Mortgage Strategy - TSB to hike ALL products by 50bps

TSB is hiking prices across all its mortgage products by 0.5%.

The lender has emailed brokers to say that it is making price rises across the board on residential, buy-to-let, product transfer and additional borrowing by half a percentage point tomorrow.

Trinity Financial product and communications director Aaron Strutt told Mortgage Strategy: “This is a big price hike.

“Market conditions are clearly getting more serious now and unfortunately we do not know when this is going to end.

“Any borrowers holding off locking into a new deal or selecting a new product transfer rate shouldn’t be because rates are likely to keep rising for a while.

“TSB’s latest price hikes were only made live today, which means the new rates are only available for a day.

“The concern is that other big lenders will need to make similar changes like this which will push up rates and mean the remaining sub-4% deals disappear quickly.”

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

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