Halifax is to make the 20th set of changes to its products since the start of the year by raising the interest rates on its home loan products by up to 50 basis points.
The UK’s largest mortgage lender announced on Saturday that it would be increasing the rates on 19 of the 31 fixed rate mortgages it offers and on five of its 32 tracker mortgages .
The move is a further setback to homeowners in the UK and will affect Halifax customers with both large and small mortgages and remortgages .
Nathan Wallis, a spokesperson for Halifax, explained: "Over the past few weeks, most major lenders have increased their pricing on a number of occasions."
"Wholesale money is very expensive. In addition, swap rates have moved up in recent weeks – that means that fixed rates have become more expensive."
"Unfortunately, these increased costs have to be passed on to new customers by banks and building societies ."
He added: "Pricing is going up in just five out of 32 within the tracker range, and within the fixed range over half remain unchanged."
Halifax Increase Loan Rates On Home Loans
Halifax Increase Loan Rates On Home Loans
Mon, 23 Jun 2008
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