This week’s top headlines: Eight in 10 landlords are planning rent rises and Mortgage rates hit three-year high.

Explore these and other major industry updates below:Eight in 10 landlords are planning rent rises: Landbay

Landbay’s latest survey found that 83% of landlords plan to increase rents over the next year, up from 75% previously, while 39% expect to sell at least one property.

Nearly six in 10 intend to refinance, with two- and three-year fixes the most popular choice, while confidence in landlords’ own businesses has improved slightly despite ongoing uncertainty.

The findings were gathered before the Budget’s increase in tax on rental income, which could influence future investment plans.

Santander cuts some rates by 25bps but raises others

Santander is cutting selected mortgage rates by up to 25 basis points and increasing others by up to 13bps across its product transfer and new business ranges.

The largest reductions affect two-year tracker product transfers, while the biggest increases include one-year fixed product transfers and selected three-year deals for home movers and first-time buyers.

Barclays makes selected resi and remo rate cuts

Barclays is reducing selected residential purchase and remortgage rates from 3 November, with cuts of up to 20 basis points across two- and five-year fixed deals.

The changes include reductions to standard, Premier, Green Home and Great Escape products, covering rates at different loan-to-value levels and with a range of product fees.

MPC decision: Mortgage market backs base rate hike

The Bank of England has raised the base rate by 25 basis points to 4%, with an 8–1 MPC vote, as it seeks to contain inflationary pressures.

Mortgage experts say the increase was largely expected and already reflected in fixed-rate pricing, meaning further rises are unlikely, although borrowers on tracker and variable-rate deals will feel the immediate impact and higher borrowing costs could weigh on market activity.

Halifax Intermediaries reduces rates by up to 0.22%

Halifax Intermediaries is cutting selected mortgage rates across its home mover, first-time buyer, remortgage, product transfer and further advance ranges by up to 22 basis points from 3 November.

The reductions cover fixed-rate and tracker products, while completion and end dates have also been extended.

Halifax is also reintroducing a 3.99% two-year tracker for borrowers with a 40% deposit.

MPC Preview: Mounting expectations for a rate rise

A Reuters poll found that 54 of 63 economists expect the Bank of England to raise the base rate by 25 basis points to 4% on Thursday, marking the first increase since August 2023.

While some experts warn that higher rates could add to pressure on households, others believe the expected move is already reflected in mortgage pricing, with fixed rates beginning to fall, and suggest the MPC may instead hold rates at 3.75%.

Nationwide cuts rates by up to 0.15%, TMW expands limited company range

Nationwide is cutting selected fixed mortgage rates by up to 15 basis points across first-time buyer, home mover and remortgage products from 4 November, taking its lowest rate to 4.89%, while increasing some higher-LTV tracker rates by up to 10bps.

Meanwhile, The Mortgage Works is expanding its limited company buy-to-let range with new two-year tracker and five-year fixed products for new and existing landlord customers, alongside a small rate reduction on an existing five-year fix.

Landlords fail to secure full rent rise in 72% of tribunal cases

Almost three-quarters of landlords failed to secure their full proposed rent increase in September tribunal cases, with only 28.4% receiving the amount requested, according to Cyborg Finance.

However, 67.6% of cases still resulted in a rent rise, averaging £92 a month, or £1,104 a year, while tribunal decisions took an average of 91 days.

Mortgage rates hit three-year high with bank rate rise expected: Moneyfacts

Fixed mortgage rates have climbed to a three-year high ahead of the Bank of England’s expected base rate rise, with the average new mortgage rate reaching 5.89% and the average two-year fix rising to 5.96%, according to Moneyfacts.

Lenders’ lowest two-year rates are now 0.44 percentage points higher on average than in September, although rates could ease slightly if the MPC signals a more stable outlook for interest rates.

Tracker costs to rise £369 if base rate goes up 25bps: UK Finance

A 25-basis-point increase in the Bank of England base rate could add up to £369 a year to average tracker mortgage payments and £171 to standard variable rate (SVR) borrowers, according to UK Finance.

However, with 87% of residential mortgages on fixed rates, around one million borrowers would be directly exposed to the increase.