Halifax is increasing every two- and three-year purchase fixed rate by 0.15%, while five-year fixes will inch up by 0.05%. Remortgages will increase by 0.15% on all fixed rate deals.
Following the increases, which take place on 1 April, Halifax’s cheapest deal – a two-year fixed rate at 60% loan to value (LTV) – will rise from 4.66% to 4.81%.
Repricing of the tracker range has not been announced, leaving a 3.96% plus 0.21% base rate tracker deal at 60% LTV currently on the shelves.
BM Solutions’ repricing extends beyond its new business to include product transfers and further advances and applies from 1 April.
For personal ownership BTL and let to buy, two-year fixed rates will rise by 0.15%, while three-year fixes will increase by 0.1%.
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Rate increases of up to 0.1% will apply to all two- and five-year fixed rates for product transfers and further advances.
Accord Mortgages is preparing to reprice its BTL tracker rates for new business from 2 April by up to 0.2%.
The average two-year fixed residential mortgage rate today is now 5.84%, up from 5.77% yesterday, according to Moneyfacts. The average five-year fixed residential mortgage rate now stands at 5.76%.
Caitlyn Eastell, personal finance analyst at Moneyfacts, said: “Borrowing costs continue to climb, and since the beginning of the month, almost £1,800 a year has been added to the average two-year fixed deal, while over £1,400 has been added to the average five-year deal based on a typical £250,000 loan over 25 years.”
