HSBC has upped its rates by as much as 0.26 percentage points with its two-year fixed deal for those with 5 per cent deposit or equity rising from 5.79 per cent to 6.05 per cent.
“I suspect that this latest reprice will put pressure on Barclays, Santander, TSB and potentially Halifax to review their pricing to adjust for increase in demand.”predictions for where interest rates will go and have a major bearing on the pricing of fixed-rate mortgages, being volatile in recent times.
“I would expect that we will see some more increases this week as other lenders will inevitably have to reprice as others shift around them. It looks as though the markets are feeling that rates may stay higher for longer. However, Mendes believes that rates will come back down again. He said: “This reprice is just to give them some breathing space and move of the top of the best buys, am sure we will see HSBC reprice downwards soon.”