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The Latest Breaking News from Rachel Springall

HSBC pulls mortgage products and Nationwide hikes deals over fears of rate rises

HSBC has removed its "new business" residential and buy-to-let products, while Nationwide increased its fixed rates as well as reducing some rates on trackers

Daily Mirror

Banks set out plans to hike savings rates next week

Savers languishing on poor savings rates have been urged to ditch and switch to find a better deal.

The Independent UK

Almost 800 mortgage deals pulled since last week over fears of more interest rate rises

New data from Moneyfacts shows the number of residential mortgages has fallen from 5,385 deals to 5,012, while buy-to-let deals have dropped from 2,748 to 2,343.

Daily Mirror

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Choice of mortgage products shrinks by more than 370 in just over a week

Moneyfactscompare.co.uk counted 5,012 mortgage products available on Tuesday, down from 5,385 on Monday last week

The Independent UK

Nationwide increasing some mortgage rates for new borrowing from Friday

The building society said the move will ensure its mortgage rates remain sustainable in the current economic environment.

The Independent UK

Choice of decade-long mortgages has shrunk in past week, says website

The move may influence other lenders to follow suit and reconsider their own deals, Moneyfactscompare.co.uk said.

The Independent UK

Choice of mortgage deals ‘at more than double the level seen last October’

Moneyfacts counted 5,264 options available in May 2023, up from 2,258 in October 2022, when the market was digesting the impact of the mini-budget.

The Independent UK

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£5,000 annual increase in the average cost of a mortgage for some borrowers

Over the course of the series of rate hikes taking the base rate from 0.1% to 4.5%, the average monthly tracker mortgage payment has risen by £417.36.

The Independent UK

New zero-deposit mortgage launched for renters aspiring to be homeowners

The deal from Skipton Building Society will help some of the new generation of home-buyers to ‘get off the rental treadmill’, one expert said.

The Independent UK

Could switching your bank account make you better off right now?

Competition has been ramping up between current account providers – so what are the benefits of switching? By Vicky Shaw.

The Independent UK

Choice of mortgage deals tops 5,000 but some rates have climbed higher

The average standard variable rate is at its highest since February 2008, Moneyfacts said.

The Independent UK

Do your homework if you want to grab rising savings rates

Inflation has brought some good news – for savers. But the best deals may not be around for long

The Guardian - UK

Mortgage approvals to home-buyers increase for first time in six months

Some 43,500 mortgages were approved for house purchase in February, up from 39,600 in January, according to Bank of England figures.

The Independent UK

‘Latest body blow to household finances’ as Bank of England base rate raised

Thursday’s base rate increase will add around £23.71 per month or more than £284 per year to the average tracker mortgage, industry figures show.

The Independent UK

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The Independent UK

Cash savings rates have improved but still cannot beat inflation, says website

Savers coming off a one-year fixed bond or Isa will notice that the equivalent rates are now much higher, according to Moneyfactscompare.co.uk.

The Independent UK

House sales dip but average fixed mortgage rates hit a six-month low

The number of house sales in February was 18% lower than in February 2022, but there have been recent signs of some mortgage rates edging down.

Daily Record

NatWest offering new and existing customers free £200 within seven days after meeting switch criteria

Lloyds Bank, First Direct and TSB are all offering new cash incentives to customers who switch their banking services.

The Independent UK

Choice of mortgage products recovers to levels not seen since August – website

The number of mortgage products on the market has surpassed 4,000 for the first time since August 2022, according to Moneyfacts.co.uk.

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The Independent UK

NS&I launches new issue of its Green Savings Bonds, paying 4.20% interest

Money invested in the bonds will help to finance green projects, such as preventing pollution and using energy more efficiently, NS&I said.

Evening Standard

Five-year fixed mortgage rates available below four per cent for first time since September

HSBC UK has reduced a five-year fixed-rate mortgage deal for borrowers with a 40 per cent deposit to 3.99 per cent.

The Independent UK

Five-year fixed mortgage rates now available below 4%

HSBC UK has reduced a five-year fixed-rate mortgage deal for borrowers with a 40% deposit to 3.99%.

The Independent UK

Average monthly tracker mortgage payment jumps by nearly £50 following rate hike

The average tracker mortgage payment will increase by £48.99 per month, according to figures from UK Finance.

The Guardian - UK

Predictions for 2023 to take some of the stress out of household budgeting

Last year may have been bad, but at least we know what to expect in the coming months

The Independent UK

How to help your child grow a savings habit in 2023 and beyond

It’s never too early to teach kids about saving money. By Vicky Shaw.

The Independent UK

New mortgage borrowers set to pay thousands more for a home loan

Bank of England base rate increases have pushed up mortgage costs for new borrowers and those on variable rates over the past year

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