Halifax and BM to raise prices tomorrow

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Halifax is raising rates by 15 basis points tomorrow on remortgage deals, while the banking group’s buy-to-let arm BM Solutions is hiking prices by up to 19bps.

Halifax is applying the 15bps price increase to all fixed rates for remortgage, further advance or product transfer, while all fixed rates for purchase will increase by 10bps tomorrow.

At BM Solutions, all buy-to-let and let-to-buy fixed rates in personal ownership will increase by 8-19bps.

All limited company buy-to-lets fixed rates will go up by 5-15bps.

BM’s product transfer and further advances will rise by 15bps.

Halifax and BM Solutions emailed brokers soon after the Bank of England’s decision to hold the base rate with their latest pricing update.

Advisers have until 8pm this evening to secure current deals.

The increases follow a frenzy of repricing and product withdrawals this week, with lenders citing rapidly changing and exceptionally volatile market conditions.


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