UK Households Hit with £330 Blow as Barclays and Nationwide Hike Mortgage Rates

UK households hit with £330 blow as Barclays and Nationwide hike mortgage rates

A rise in inflation appears to have spelt the end of a series of mortgage rate cuts for borrowers with both Barclays and Nationwide increasing theirs.

UK households hit with £330 blow as Barclays and Nationwide hike mortgage rates - Business Fast

Both Santander and Nationwide Building Society are increasing their mortgage interest rates. The hikes come days after the Office for National Statistics announced a higher than expected jump in the rate of inflation, the data means the Bank of England is expected to hold off any more interest rate drops. Santander is increasing fixed rates by up to 0.1 percentage points from Tuesday next week, while Nationwide said it had increased its mortgage…