HSBC has announced mortgage rate increases of up to 0.16% on residential mortgages and 0.04% on buy-to-let (BTL) products.
The lender said while it has been able to reduce rates four times since April, recent increases in swap rates meant it has had to raise some of its pricing.
HSBC still has some sub-4% mortgages available, such as its standard first-time buyer product at 60% loan to value (LTV) with a £999 fee, which is fixed for two years and priced at 3.99%.
There are also the two- and five-year fixed remortgage products, also at 60% LTV and with a £999 fee, with rates of 3.99%.
Barclays makes rate increases
Barclays has also made some increases and announced one reduction.
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The bank has lowered the rate of its two-year tracker product with a £999 fee at 85% LTV from 5.01% to 4.98%, following the recent base rate cut.
Rate increases have been applied to selected residential purchase and remortgage products.
For example, its two-year fixed purchase product at 60% LTV with an £899 fee will go up from 3.87% to 3.97%, while the fee-free alternative will rise from 4.1% to 4.2%.
At higher LTV bands, its mortgage guarantee product at 95% LTV with no fee has gone from 4.9% to 5.05% for the two-year fix and from 4.84% to 4.99% for the five-year fix.
Across its remortgage products, Barclays has increased the rate of the two-year fix at 60% LTV with a £999 fee from 3.88% to 3.98%, while at 75% LTV, this has risen from 4.19% to 4.29%. The corresponding 85% LTV deal has increased from 5.09% to 5.19%.
Ecology BS lowers mortgage rates
Ecology Building Society has reduced its self-build mortgage rate to 5.99% and the eco home mortgage rate to 4.9%.
The eco home mortgage was recently launched and is available on homes with an energy performance rating of B or above, and it includes a full-term ‘eco home’ discount of 1.14%.
Both products have variable rates.
Ecology Building Society has also lowered its standard variable rate (SVR) by 0.25%, in line with the recent base rate cut, applicable across its whole range of residential and commercial mortgages.
Daniel Capstick, senior mortgages product and proposition manager at Ecology Building Society, said: “We’re pleased to make these rate reductions as part of a review across our mortgage range.
“It’s important that we ensure our products, whether mortgages or savings, remain aligned with the reasons Ecology was created back in 1981 – to support the building of sustainable homes and communities.
“We’ve always led the way on self-build and green home finance and in the past four decades have grown our understanding and specialist knowledge of non-standard builds [that] may be rejected by other lenders.
“We don’t use a ‘tickbox’ approach to mortgage applications and our underwriting is bespoke to each case.
“And we reward our borrowers’ efforts to reduce their carbon footprint, with our innovative C-Change discount, which can save them up to 1.5% on their mortgage rate when they improve their home’s energy efficiency.”
