The mortgage interest rises again after three more lenders increased their prices this week in response to market conditions.
Santander and Halifax belonged to those adjustment percentages because of the rising exchange rates, which influence the prices of mortgages with a fixed rate.
According to Nicholas Mendes, MortGage Technical Manager at John Charcol, there have been ‘meaningful shifts’ in Swaps for a short period in response to growing concern about inflation.
Indeed, Inflation increased from 2.6% in March to 3.5% in April Because households were hit by higher accounts and tax increases.
Mendes said: “Lenders have already started responding. In the past two weeks, several large providers, including HSBC, Natwest, Nationwide, Santander and Skipton, have increased rates for selected mortgage products.
“Although there was a short dip in Swaps after news about further American rates on European goods, inflatoids have retained since then and the upward trend has resumed.”
How will rising mortgage prices influence borrowers?
With more money lenders who have announced the price increases since then, the sentiment in the mortgage industry is that the trend for falling mortgage interest that borrowers have seen in recent months may have ended.
Mendes added: “Although a sharp increase is not expected, the most competing deals, especially those of less than 4%, are now under pressure.
“If exchange rates Staying increased or rising further, it is likely that more lenders will represent in the coming weeks. Service levels can also be affected if there is a stream of borrowers that try to obtain current offers. “
In the end, Mendes said, there are still good rates available, but the “window to secure them can be reduced.”
His advice has been reflected by other mortgage brokers, with Andrew Montlake, CEO at KorecoTelling the newspaper agency: “In a fickle market like this, it pays to act quickly and first hold a rate to ensure that you get the house of your dreams instead of playing the market and risking everything.”
With many attractive deals that are still on the table, borrowers are looking for new mortgage offers to get advice and to look for the best rate.
Rob Peters, director at Simple fast mortgageAlso said with newspapers, said: “The rates remain historically low compared to where they were even six months ago, so although this round of rises is not ideal, it is also not a disaster. Lenders respond to real -time circumstances and borrowers should.
“The message is clear: don’t wait at a perfect moment, get advice now, compare options and align where it makes sense to do this. There are still many good deals that are there.”