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Barclays, HSBC and Halifax pull sub-3% fixed rate mortgages

Aaron Strutt Image

Three of the UK's largest lenders have stopped offering sub-3% fixed-rate mortgages following recent price hikes. 

Barclays is the latest in a long line of lenders to increase its rates by up to 0.76%, following Halifax's 0.5% fixed rate rises. The changes were enough to push the lender's fixed mortgages over the 3% barrier in line with HSBC's fixed mortgages.  

Aaron Strutt, product director at Trinity Financial, says: "Many borrowers know that rates are rising, but they won't be aware of the constant rate rises and how frequently they are happening. This is a concern for borrowers with remortgages due and buyers trying to get on the property ladder. 

"We do everything possible to explain to our clients the rates we quote will not be around for long. We advise them to give us the documentation we need as soon as possible to secure the best deals."

Is it possible to get a mortgage starting with one or two? 

Some lenders offer discounted variable rates that are half the price of many of the fixes, but they will get more expensive when lenders increase their standard variable rates.

Other banks and building societies have fixed rates starting with a two, but they won't be around for long based on the scale of changes at the moment.

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

As seen in
sunday times telegraph financial times bbc news the express the times
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