Lenders forced to raise fixed-term deals after latest inflation figure pushed swap rates upwards
Households looking for a new mortgage deal have been warned to expect 5%-plus fixed-rate deals in the coming weeks, after Wednesday’s inflation figures sent the money markets back into turmoil.
Nick Mendes, mortgage technical manager at brokers John Charcol, said on Thursday that he doubts that there will be any two-year fixed-rate mortgages and probably few five-year deals priced at less than 5% in the coming weeks, as lenders are forced to re-price their mortgages upwards.
