Fixed rates on the up again
We’re losing money on our equity investments, the cost of food is going up, energy bills have gone up and now the cost of a fixed rate mortgage is also on the up. Banks and Building Societies have had no choice but to increase the interest on fixed rate deals as the cost for them to borrow money in the wholesale markets has gone up by over 0.3%.
Main players such as Woolwich (Barclays) and First Direct (HSBC) are the first to make such a move, whilst the Yorkshire has increased its rate by 0.5%. Meanwhile the Skipton has scrapped its fixed rate range altogether. It just aint getting any better!
Tags: barclays, first direct, hsbc, skipton building society, woolwich, yorkshire building society
