Lenders increase mortgage rates amid market uncertainty

Leading lenders including Barclays, HSBC, NatWest, Accord Mortgages, and Leeds building society have increased rates on their fixed mortgage deals in response to market uncertainty. Money market swap rates have slightly risen due to Bank of England interest rate expectations, prompting lenders to reprice some deals. While some lenders such as Accord have increased selected rates by up to 0.4 percentage points, others such as NatWest have opted for smaller rises. It has lifted some of its two and five-year "switcher" deals for existing customers by 0.1 percentage points. Nicholas Mendes, the mortgage technical manager at the broker John Charcol, said lenders had "adjusted their positions in response to market uncertainty," though borrowers "are unlikely to experience the same volatility and high rates as last year". 

The Guardian (23/04/2024)   The Independent (23/04/2024)