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

Nationwide, Principality, Accord and TSB Announce Mortgage Rate Increases

Nationwide, Principality, Accord, and TSB have all raised rates across their mortgage ranges, affecting both new and existing customers. The changes impact a variety of products, including residential, buy-to-let, and specialist lending options.

Nationwide has implemented widespread increases across its mortgage range. For new member moving products, two-year fixed rates now start from 4.63% at 60% loan to value (LTV) with a £1,499 fee. Most products across the 75-95% LTV brackets have also increased. First-time buyer mortgages have seen rises, with two-year fixed rates now at 4.82% for 75% LTV and 4.97% for 90% LTV. The lender’s remortgage range has also been repriced, with two-year fixed rates rising to as much as 5.65% at 95% LTV and five-year fixes reaching 5.5%. Existing member products, including moving home, borrowing more, and switching deals, have also seen increases. Switcher products now start from 4.66% for a two-year fixed deal at 60% LTV, rising to 5.65% for 95% LTV. Selected two-year tracker products for additional borrowing now reach 4.69% at 90% LTV.

TSB has increased rates across its residential mortgage range. All fixed rate house purchase products have risen by 0.15%, and all three-year fixed remortgage products have also increased by 0.15%.

Accord has raised buy-to-let (BTL) rates across much of its range. The largest increases affect products between 60% and 75% LTV, which have risen by 0.16%. Products at 80% LTV have increased by 0.1%.

Principality has announced a series of increases across its residential, BTL, holiday let, and specialist lending ranges. Within its core residential offering, two-, three-, and five-year fixed products at 65% LTV have increased by up to 0.18%, while 75% LTV products have risen by up to 0.13%. Selected 80% and 90% LTV products, including cashback mortgages, have increased by between 0.02% and 0.15%. In the BTL range, the five-year fixed 60% LTV product with a £1,395 fee has increased by 0.1%.

These changes may affect letting agents and inventory clerks working with landlords and tenants, as mortgage costs for both residential and buy-to-let properties are rising across multiple lenders.