LONDON (Reuters) -Nationwide Building Society, one of Britain’s largest mortgage lenders, will raise fixed rates on mortgages offered via brokers by up to 0.7 percentage points on Friday, it said in an email to intermediaries.
“This includes rates across our New Business, Switcher, Additional Borrowing and Existing Customer Moving Home ranges,” the email said.
The quoted rate offered by Nationwide on a 2-year fix for new borrowers, available for a 999-pound ($1,267) fee, will rise on Friday to 5.69% across most loan-to-value ratios, from 5.24% currently.
Lenders have repeatedly re-priced home loan offerings in recent weeks in a scramble to keep up with soaring funding costs, spurred by expectations for more interest rate hikes from the Bank of England as it battles stubbornly high inflation.
Earlier this week, HSBC also announced a shake-up in its mortgage line, with higher rates taking hold on Thursday.
($1 = 0.7885 pounds)
(Reporting by Andy Bruce; Editing by Sachin Ravikumar and Kylie MacLellan)
