From This is Money:
One specialist lender, First National, yesterday raised the cost of new mortgages by as much as 1.6 percentage points – adding £166 a month to the cost of a typical £150,000 loan.
The third biggest building society, the Yorkshire, raised some fixed rates by up to 0.3 points.
Experts warn big mainstream lenders are likely to raise rates on both fixed and tracker deals.
The rises came as it emerged that customers of the Lloyds-TSB/Halifax ‘super-bank’ could be up to £405 a year worse off.
A study for the Daily Mail carried out by personal finance site Moneyfacts.co.uk shows Lloyds-TSB generally offers poorer value products than the Halifax.
It is feared the super-bank could its financial muscle to shift customers to the dearer deals. It comes after figures showed mortgage lending has fallen to its lowest level for three years.
Banks are cautious of lending to each other for fear of being caught out by ‘toxic’ debt. This has pushed the interest rates banks c…
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