The increase will apply to its mortgage standard variable rate, which will rise to 4.24%, as well as its offset, one account and current account rates.
Buy-to-let lenders prefer the security of a tenant on an assured shorthold tenancy
The changes will take effect on 25 September, while Family said it is also reviewing its fixed rates.
Swiss Credit Bank Credit Suisse has upgraded the stock from ‘underperform to ‘neutral’ but cut its earnings estimates and target price.
Getting on the housing ladder is becoming increasingly difficult. As a consequence, more and more millennials find themselves perpetually trapped in an over-inflated rental market.
The lender’s 5-year fixed rates for purchase now stand at 2.05% to 60% loan-to-value and 2.07% to 75% LTV, both with a £995 product fee. There is also a fee-free option at 2.20% to 60% LTV and 2.22% to 75% LTV.
TSB has passed the Bank of England base rate rise of 0.25% onto its variable rate mortgage products.
Due to a Care Quality Commission (CQC) issue with one of the homes, the borrower had run into trouble with their high street lender who wanted to foreclose on their loan, despite the business still being in profit.
Both telephone BDMs as well as three in five of the field BDMs are already active, with the remaining two set to start in Manchester and South London.
Nationwide’s base mortgage rate and standard mortgage rate now stand at 2.75% and 4.24% respectively.