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.

Major Lenders Raise Mortgage Rates by Up to 20 Basis Points

Barclays, Halifax, HSBC, TSB, and Skipton are increasing mortgage rates by up to 20 basis points, with changes taking effect tomorrow. The rate hikes will impact a range of residential and buy-to-let mortgage products, including tracker and fixed-rate deals.

Barclays is raising prices on numerous residential products, including purchase, remortgage, and product transfer deals. Many of these increases are between 15 and 19 basis points. Notably, Barclays’ existing mortgage customer (EMC) Reward five-year tracker at 85% loan-to-value (LTV) will rise by 20 basis points, from 4.55% to 4.75%. The EMC Reward two-year fixed product at 70% LTV with a £1,999 fee will also increase by 20 basis points, from 4.76% to 4.96%.

Halifax is increasing prices on all two, three, and five-year fixed rates for home movers and first-time buyers by up to 20 basis points. Two-year tracker rates for both purchase and remortgage customers will rise by up to 10 basis points.

TSB is raising selected residential rates by up to 20 basis points and buy-to-let rates by up to 15 basis points. BM Solutions, which serves landlords, is also increasing rates by up to 19 basis points.

HSBC will raise its prices tomorrow, but has not provided brokers with advance details of the scale of the changes. Skipton Building Society has announced rate increases and published new products on its intermediary website.

These changes are relevant for letting agents and inventory clerks, as they may affect landlords’ mortgage costs and the affordability of new buy-to-let investments. The rate increases could also influence the wider UK property market, particularly for those considering remortgaging or purchasing new properties.