Lenders rush to raise fixed-rate mortgages
Published ¤ 12/06/2009
Homeowners and landlords hit as more lenders join the sudden rush to raise interest rates on home loans.
A fresh wave of increases to mortgage interest rates by Britain's biggest mortgage lenders is set to hit hundreds of thousands of homeowners and buy-to-let landlords.
Cheltenham & Gloucester, the mortgage brand owned by Lloyds Banking Group, increased its residential and buy-to-let deals by up to 03 percentage points today. A three-year fix for borrowers with a 25 per cent deposit has risen to 5.59 per cent.
Northern Rock has also raised its five-year fixes and buy-to-let deals by up to 0.2 percentage points today. The Principality building society is also pushing up costs of its fixed rates mortgages while The Nottingham has withdrawing deals this weekend and is likely to raise mortgage rates next week.
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