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HSBC and Nationwide increase variable rates – round-up

  • 01/07/2022
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HSBC and Nationwide increase variable rates – round-up
HSBC and Nationwide have increased variable mortgage rates.

HSBC has increased its residential standard variable rate (SVR) from 4.04 per cent to 4.29 per cent.

Any borrowers who currently on HSBC’s residential SVR will be notified of changes to their payments in writing.

There are no changes to HSBC’s buy to let (BTL) SVRs or any of its other products.



Nationwide said it had increased its base mortgage rate (BMR) from 2.75 per cent to three per cent and its standard mortgage rate (SMR) will be increased from 4.24 per cent to 4.49 per cent.

From 1 August 2022, Nationwide will be increasing tracker mortgage interest rates to reflect the Bank of England’s base rate change.

Nationwide confirmed that tracker mortgages reserved between 1 December 2004 and 16 February 2009 will not be affected by the rate rise, because their tracker floor is higher than the base rate.

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