Investment Property News - Bueno Investments Limited

Borrowers are facing more woe after two of the UK's biggest lenders raised their rates.

Anyone taking out a mortgage through an intermediary at the Halifax and Cheltenham & Gloucester face an 0.6% increase in rates.

Halifax last raised its broker rates little over a week ago, raising its short-term deals by up to 0.5%. It said it was increasing its tracker rates and fixed-rate deals taken out through intermediaries by up to 0.6%, but would reduce its 10-year tracker rate by 0.1% to 6.64%.

The move means the group's three-year tracker for a borrower with at least a 25% deposit will jump from 5.62% to 6.22%, costing an extra £670 a year for someone with a £150,000 mortgage.

Cheltenham & Gloucester, the mortgage arm of Lloyds TSB, also increased the cost of its fixed-rate deals taken out through intermediaries by up to 0.6%, pushing up the cost of its two-year fixed-rate mortgage for someone with a 10% deposit to 6.59%.

It also increased its lifetime tracker mortgage by 0.4%, to give a rate of 6.63% for a borrower with a 20% deposit who is paying a £995 fee.

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http://www.buenoinvestments.com/uk_property_investment.php (UK Property)

http://www.halifax.co.uk/home/home.asp (Halifax)