Santander announces rate increases - "Another blow to borrowers"

Santander increasing rates - yet another road block for borrowers, which now seems a common trend amongst lenders. Until Threadneedle street and the circus clowns that currently run Government, offer any encouragement, in the lending market, then im afraid, these trends of increases will continue.

Another doom and gloom Monday as Santander announces hikes up to 0.25% on both fixed and tracker mortgage rates. This move adds to the uncertainty facing borrowers, with major lenders adjusting their rates upward, signaling that significant rate reductions in the near future are unlikely. It's a tough pill to swallow for those looking to secure new mortgages or renegotiate existing ones. This trend suggests a cautious approach to personal finance and housing decisions is more crucial than ever.

Another sad start to the week, with more rate increases this time from Santander, which is likely to trigger similar activity with other High Street lenders. It's unlikely that low inflation will kick start cheaper mortgages, a complete lack of fiscal focus and a 'let it happen' attitude from the Government are slowly eroding the property and mortgage markets to a complete standstill. Sorry borrowers, there's no easy way out of this at the moment.

Another Monday morning with bad news for borrowers as Santander increases their rates. Undoubtedly other lenders will follow as they look to protect margins. What is concerning is the lack of ideas or capability from either the government or the Bank of England to any thing to address the continued crisis for those with mortgages or wanting to buy. The sooner we get a General Election the better.

Santander have kicked off the week with news of impending increases, dealing another blow to borrowers. Hopes of a Spring reduction to the Base Rate have dissapeared and we are left facing uncertainty with the vast majority of lenders increasing their rates and shuffling products around on a weekly basis. Overall, the trajectory for rates this year is downward, and while we expected the road to be bumpy, this section of road is covered in potholes, speed bumps and has very poor signage.

Monday mornings are starting to be the bearer of bad news, last week saw rises across the board and this week is no different. Santander are the last of the high street lenders to make rises, but I’m sure it won’t be the last for this week!
All eyes will be on the next Bank of England announcement on May 9th and the inflation announcement on May 15th.