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For home purchase the equivalent five-year rate is 4.69percent (also 75percent LTV) and over two years rates start from 4.99percent. HSBC’s two-year fixed-rate product switch deal has risen to 4.78percent from 4.63percent. Its five-year equivalent deal has gone up to 4.39percent from 4.32percent, also with a 999 fee. Over five years, the lender’s purchase deal is cut from 4.92percent to 4.78percent (also 85percent LTV with an 899 fee). The high street bank, the fourth biggest mortgage lender, last increased rates on 3 May.
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Nationwide building society is cutting its fixed mortgage rates by up to 0.3 percentage points for new and existing borrowers with low amounts of equity or a small deposit. Nationwide building society is increasing its fixed rates across select mortgage products for new customers by up to 0.45 percentage points, writes Jo Thornhill. Nationwide’s five-year fixed rate deal for remortgage at 60percent LTV has increased to 4.64percent from 4.24percent. The two-year remortgage fixed rate (also 60percent LTV) is now 4.99percent, up from 4.59percent. Its two-year standard BtL fixed rate (75percent LTV) is 5.69percent with a 2percent fee.
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The rate hike will apply across the mutual lender’s mortgage deals for new borrowers and for existing Nationwide customers looking for a new deal or moving home and borrowing more . Costs for the lender’s two-year fixed rate for remortgage now start from 4.69percent with a 1,495 fee (60percent LTV), up from 4.59percent. The equivalent five-year deal has gone up by the same amount to a new rate of 4.3percent. Five-year fixed rates for customers with at least 40percent equity in their property will now start from 4.3percent with a 1,495 fee.
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