HSBC
Following a temporary withdrawal of its products on Thursday, HSBC has upped rates across its residential and buy-to-let mortgage ranges by between 0.1 and 0.45 per cent.
For example, a two-year fix at 85 per cent loan to value (LTV) with a £999 fee has gone up by 0.25 per cent to 5.19 per cent, while a five-year fixed remortgage at 60 per cent LTV, also with a £999 fee, has increased by 0.3 per cent to 4.64 per cent.
Its five-year switcher product at 60 per cent LTV with a £999 fee has gone up by 0.24 per cent to 4.32 per cent.
HSBC’s buy-to-let standard variable rate has also risen from 7.1 per cent to 7.35 per cent.
The lender withdrew the mortgages available to new borrowers through its broker channel last week to protect its service levels, then re-opened the channel for a few hours on Friday to allow some applications to be submitted.
At the time, a spokesperson said it remained open to new mortgage business but to ensure it provided the best possible service, it occasionally needed “to limit the amount of new business we can take each day via broker services”.
It said it would “continue to review the situation regularly”.
Natwest
Natwest has increased its rates for new and existing borrowers by as much as 1.57 per cent.
The changes apply to two and five-year fixed residential purchase and remortgage, two and five-year fixed buy-to-let purchase and remortgage, green mortgage, Help to Buy, and shared equity deals.
The largest increase has been made to its two-year fixed purchase mortgage for new buy-to-let borrowers at 75 per cent LTV, which has risen from 5.22 per cent to 6.79 per cent.
Brokers have until 12 June 10.30pm to submit applications for outgoing rates.
Clydesdale Bank
Clydesdale Bank will be launching products for new business tomorrow and increasing rates for existing borrowers by 8pm today.
This follows the lender’s decision to withdraw all new business rates last Friday.
All residential or buy-to-let fixed rates for existing customers will rise by either 0.2 per cent or 0.3 per cent.
It said brokers applying for existing deals should submit the application as soon as possible.
