Mortgage Prices Gone Up As Interest Rates Have Gone Down - Why?

16th November 2024

The Bank of England may have cut interest rates by 0.25% but a number of big mortgage lenders have increased their prices this week.

Barclays and Natwest became the latest high street banks to announce they intend to increase their fixed mortgage rates, following hot on the heels of Santander, HSBC, Nationwide and TSB.

It means there are now no lenders, apart from Allied Irish Bank, which have rates below 4%.

But why are prices going up when interest rates have gone down? Indeed, these price hikes have all been revealed within days of the Bank of England (BoE) cutting the Base Rate from 5% to 4.75%.

Read the full article at The Money Pages HERE