The Guardian - HSBC, Nationwide and Coventry raise rates on fixed mortgages amid Middle East crisis

HSBC, Nationwide and Coventry building societies are the first big UK lenders to announce an increase in rates on their fixed mortgage deals as a result of the Middle East crisis, with brokers predicting others are likely to follow.

That uncertainty has affected the money market swap rates that lenders use to decide the rates on their new fixed mortgages. Aaron Strutt at the broker Trinity Financial told The Guardian these were the first large lenders to announce rate hikes “based on the funding cost increases brought on by the chaos in the Middle East”.

“It seems almost certain we are going to see a lot more rate changes over the coming days, so if you are on the hunt for a mortgage, it is worth locking into a new deal now.” 

Click here to read the full story

Get expert mortgage advice from Trinity Financial

At Trinity Financial, our team of experienced London mortgage brokers specialises in helping borrowers secure the right deal. We work with all major lenders and can guide you through the full application process.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage