High Street Bank, Halifax, have today revealed they are increasing the interest rates on their mortgage deals.
As the UK’s biggest mortgage lender, some 1 out of every 5 mortgages is with Halifax, it makes you wonder if they will see a fall in the number of mortgages being taken out by new customers.
The decision comes just after Abbey announced they were increasing rates on certain mortgage products.
These decisions not only affect new buyers and first-time buyers but also existing customers. Speculation is rife that other building societies and banks won’t have much choice but to follow suit.
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