Over the past two days, both Barclays and Nationwide have notified us that they will be increasing their interest rates for new borrowers.
Whilst there is no need to panic as the increases are small, with two of the top five mortgage lenders in the UK increasing their rates, it is significant. Feedback from other lenders is that they are considering a rise in the near future.
The good news is that rates are still historically low with Banks and Building Societies still keen to lend. With this in mind if you are looking at taking out a new mortgage or re-mortgaging there seems little evidence to suggest there is any advantage in waiting.
Click here to check out the latest rates..
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