Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Halifax, BM Solutions, TSB and Leeds Building Society to Increase Rates

Halifax, BM Solutions, TSB and Leeds Building Society will raise rates on a range of mortgage and buy-to-let products by up to 20 basis points from tomorrow. The changes will affect both residential and buy-to-let deals, including remortgages, homemover, first-time buyer, and product transfer rates.

At Halifax, selected two, three, and five-year fixed remortgage rates will increase by up to 20 basis points. Homemover and first-time buyer rates will rise by up to 15 basis points, while product transfer deals will go up by up to 10 basis points. BM Solutions, the buy-to-let arm of Halifax, will also increase rates by up to 10 basis points for both purchase and remortgage products.

TSB is set to raise residential purchase and remortgage rates by up to 20 basis points. For buy-to-let customers, two and five-year fixed rates for purchases up to 75% loan-to-value (LTV) will increase by up to 20 basis points, and two and five-year remortgage deals between 60% and 75% LTV will rise by 10 basis points.

Leeds Building Society will also increase a number of fixed rates tomorrow. The changes will apply to selected residential, rate switch, income plus, and buy-to-let deals.

These rate increases may impact letting agents and inventory clerks working with landlords and property investors, as higher mortgage costs could affect buy-to-let affordability and rental market activity.