Clydesdale and HSBC set to increase mortgage rates – round-up
Clydesdale Bank and HSBC are the latest lenders to announce mortgage rate rises this week.
Clydesdale will be increasing its two- and five-year fixed mortgage rates by up to 0.19%, with buy-to-let (BTL) rates rising by 0.38% from Wednesday 23 September.
HSBC, meanwhile, has announced a number of rate increases will made across its residential and BTL ranges but has not indicated by how much.
The lender’s forthcoming rate increases follow Santander, Barclays and Halifax’s rate changes earlier this week. Santander withdrew swathes of products in preparation for tomorrow’s repricing, while also reducing its 95% loan-to-value (LTV) two-year fixed rate by 0.06%.
Following the latest spate of rate increases, the average two-year fixed residential mortgage rate now sits at 5.9% – its highest point since 12 April, according to Moneyfacts. The average five-year fixed rate is at its highest since 17 October 2023 at 5.92%.
Mortgage Solutions contacted HSBC for more detail.
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