Proactive Investors - Two more big lenders have announced increased fixed rates on mortgages this morning, with NatWest and Santander (BME:SAN) following Halifax's move at the end of last week.
Natwest (LON:NWG) has announced a hike across the full range of residential and buy-to-let products from tomorrow and Santander also unveiled a suite of rate increases for both fixed and tracker by up to 0.25% from Tuesday too.
NatWest said rates on new business would move up to 0.22% higher.
Justin Moy, managing director at EHF Mortgages, said this was not unexpected, following more rises from rivals in recent weeks.
"With the likelihood of base rate cuts becoming less likely in 2024, longer-term swap rates have continued to increase over the past few weeks, lenders have had little choice other than to follow," he said. "Where will this stop? Low inflation and a general election don't seem enough to make a difference."
Gary Bush, a financial adviser at MortgageShop, said, "household budgets being under control doesn't seem likely in the short term sadly. Hang onto your hats homeowners the bumpy ride continues."