HSBC announces new rates from Wednesday

A number of lenders have increased their rates over the past few weeks, so it is no surprise that HSBC has followed this recent trend. There is still debate about whether further base rate increases are still on the horizon or not, and double-figure inflation is still a large grey cloud above us all. When the sun does break through, we should see rates start slipping again, but as we know the weather in the UK is unpredictable.

It's an interesting move from HSBC, especially given the positive news about house prices. We've seen some other lenders tweak their rates upwards over the past couple of weeks so this isn't great news for borrowers. If other lenders follow suit then it is likely that this is pricing in a potential rate rise from Threadneedle Street on 11th May. I am intrigued to see the detail of the changes, especially as it includes a lowering of buy-to-let rates and we've seen some interest again in this area recently.