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The Telegraph - Banks cash in on coronavirus by increasing mortgage rates

Aaron Strutt Image

Some of Britain's biggest lenders have hiked rates on their fixed-term mortgages despite a steep interest cut by the Bank of England designed to ease the pressure on millions of borrowers.

Lenders including HSBC increased charges on some fixed mortgages after the Bank slashed the base rate from 0.75% to 0.25%.

Aaron Strutt, product director at Trinity Financial, told The Telegraph: “The last thing borrowers expected was for lenders to increase the cost of their fixed rates following such a huge Bank Rate reduction.”

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sunday times telegraph financial times bbc news the express the times
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