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Halifax, Chelsea And Portman Raise The I R On Mortgages

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http://money.independent.co.uk/personal_fi...ticle360962.ece

On a cusp: lenders look to rate rises

By Esther Shaw

Published: 30 April 2006
To fix or not to fix, that is the question - and a tough one for home loan borrowers to answer, now that the base rate has remained on hold at 4.5 per cent for the past eight months.
But one thing is sure for those looking for peace of mind in their monthly budgeting - the cost of fixing your mortgage is going up.
Portman building society is the latest lender to withdraw its two-year table-topping fixed rate deal at 4.3 per cent. It has replaced this with a deal at 4.49 per cent.
Halifax has also recently nudged its two-year remortgage fix up from 4.49 per cent to 4.56 per cent, while Chelsea building society has increased its two-year rate by 0.2 per cent to 4.69 per cent.
"
Northern Rock has also warned that its fixed-rate products are on official 'withdrawal watch' before a possible repricing upwards,"
says Nick Gardner from Chase de Vere Mortgage Management, a broker. "This means they could disappear any day."
Rates are beginning to edge up, after a rise in "swap rates" - the cost to lenders of borrowing from one another, and the factor that determines the price of fixed-rate deals for customers.

The BoE may be frozen in the headlights but the VIs are already hiking the rates up up and awayyyyyyyyyyyyyy

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The BoE may be frozen in the headlights but the VIs are already hiking the rates up up and awayyyyyyyyyyyyyy

Have you noticed thought that they're cutting the rates that they pay on savings? Clearly they're trying to discourage people from fixing their mortgages on the pretence that interest rates are on the way down, so they can make a killing when interest rates go up.

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To fix or not to fix, that is the question - and a tough one for home loan borrowers to answer, now that the base rate has remained on hold at 4.5 per cent for the past eight months.

IF I were to take out a mortgage I would try for a capped rate mortgage!!!!!

Portman building society is the latest lender to withdraw its two-year table-topping fixed rate deal at 4.3 per cent. It has replaced this with a deal at 4.49 per cent.

Halifax has also recently nudged its two-year remortgage fix up from 4.49 per cent to 4.56 per cent, while Chelsea building society has increased its two-year rate by 0.2 per cent to 4.69 per cent.

Not big nominal moves on rates - but as a percentage of a percentage - significant IMO.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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