On February 27th, the markets adhere to the “higher-for-longer” stance

The starting interest rates for borrowers seeking a new arrangement with Nationwide for a five-year changeover will be 4.19%, accompanied by a charge of £999. The interest rates for two-year contracts will begin at 4.59%. Starting from Friday (1 March), Halifax for Intermediaries, a mortgage provider that operates through brokers, will be implementing modifications to a variety of its fixed rate mortgage options for both new and current customers. The bank has announced that it will raise the interest rates for home buyers, including first-time buyers, by a maximum of 0.18 percentage points for two and five-year terms.

Additionally, selected two-year remortgage rates will increase by up to 0.29 percentage points. However, the bank will also lower its two and five-year fixed remortgage rates for borrowers who have at least 10% equity in their property (at 90% loan to value). The bank will raise the fixed rate offers for existing clients seeking a new deal by a maximum of 0.29 percentage points.

The current two-year fixed rates for new borrowers seeking to remortgage with Halifax begin at 4.52%, accompanied by a £999 charge. Meanwhile, the five-year fixed rates start at 4.44%. The upcoming pricing and deals will be released on Friday. Complimentary guidance on mortgages On February 27th, the markets adhere to the “higher-for-longer” stance.
Virgin Money is raising the prices of certain fixed-rate mortgages by a maximum of 0.1 percentage points for new borrowers and up to 0.2 percentage points for existing customers who want to transfer, according to Jo Thornhill’s report.

Starting at 8 pm today, the lender will boost their lowest five-year fixed rate for remortgage (through brokers at 60% loan to value) to 4.44%, which is a 0.05 percentage point increase. The cost amounts to £995. The company has raised mortgage rates for the third time this month. Many lenders have increased their interest rates in the past few weeks due to inflation data from the UK and the United States, which indicates that prices are not decreasing as rapidly as anticipated. This is being perceived as a justification for the Bank of England to maintain higher interest rates for an extended period.