Principality Building Society will raise selected residential fixed-rate home loans by up to 21 basis points, while Accord will lift some landlord and product transfer deals by as much as 19bps.
The mutual increases, which come to market tomorrow (18 April), cover:
- Two- and five-year 75% LTV products rise by up to 20bps
- Two-year 80% LTV products rise by up to 20bps
- Two-year 85% LTV products rise by up to 21bps
- Two-year 90% LTV products rise by up to 13bps
- Two- and five-year 95% LTV products rise by up to 15bps
The move will see its two-year 75% LTV home loan fix offered at 4.89%.
Meanwhile, Accord will lift buy to let and product transfers from Friday (19 April).
Yorkshire Building Society’s broker-only lender says its increases will see:
- Two-year rates rise by 15bps
- Three-year rates rise by up to 19bps
- Five-year rates rise by 15bps
Its current range will be withdrawn at 8pm on 18 April, with the new range available at 9am on 19 April.
John Charcol marketing manager Nicholas Mendes says: “The market is in dire need of some positive movement from the Bank of England, until we see a rate reduction we are going to see a period of rate increases as markets start to become unsettled.
“Mortgage holders coming to the end of their fixed-rate deals this year and in early 2025 will need to be prepared to see rates higher than had earlier been predicted.
“Initial forecasts of a 3.5% fixed-rate mortgage deal by August to late September are very unlikely, with any sign of such a deal now pushed back to later in the year.”
