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Warning UK mortgage rates set to rise further

Borrowers are being warned mortgage rates are set to rise further as turbulence continues to hit the market.

Broker London & Country said lenders had been withdrawing deals and raising rates at a “relentless pace” and this week would “bring more of the same”.

  • Daniel Thomas
  • BBC

Mortgage rates have gone up about 0.5 percentage points in the last month to approach an average fixed deal of 6%.

On Monday Santander became the latest big lender to temporarily withdraw new deals due to “market conditions”.

Meanwhile, NatWest said it was increasing rates for new residential mortgages by 0.2 percentage points, and for buy-to-let…

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