Halifax, BM Solutions and TMW hike rates Mortgage Finance Gazette

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Halifax and BM Solutions are set to increase rates by up to 20 basis points on a range of products this Friday.

In an email to brokers, Halifax says it will be increasing rates on certain homemover, first-time buyer, remortgage, product transfer and further advance deals by up to 0.2 percentage points.

Advisers have until 8pm on Thursday to secure current rates.

BM Solutions is also increasing rates on selected buy-to-let and let-to-buy products by up to 20 basis points on Friday with the same deadline for brokers to secure current deals.

Meanwhile, The Mortgage Works is increasing rates on a range of deals from tomorrow with full details of the new rates now available on its intermediary website.

To secure TMW’s current product rates advisers will need to submit full applications today.

These moves come after major lenders such as HSBC, Barclays, NatWest, TSB, Virgin Money and Leeds Building Society all announced rate increases this week. 

The changes come as markets bet that the Bank of England will push its first base rate cut into the second half of the year.