Nationwide, Halifax Raise UK Mortgage Rates

Two major UK mortgage lenders, Nationwide and Halifax, announced increases to their fixed and tracker rates on Monday afternoon, exacerbating pressures on homebuyers and remortgagers amid ongoing global market volatility. The moves come shortly after US President Donald Trump posted on Truth Social about productive conversations between the United States and Iran aimed at a complete resolution of hostilities in the Middle East, though the announcement failed to stem the tide of rising borrowing costs.

Nationwide is raising selected fixed and tracker rates by up to 0.30 percentage points, effective immediately. Its lowest two-year fixed rate will increase from 4.2 percent to 4.5 percent, accompanied by a £1,499 fee. The lowest five-year fixed rate will rise from 4.45 percent to 4.65 percent, also with a £1,499 fee. For a typical £200,000 mortgage repaid over 25 years, this adjustment would raise monthly payments from £1,106 to £1,129. Halifax, part of the Lloyds Banking Group, plans to implement hikes across all its fixed-rate products starting Tuesday, affecting purchase, remortgage, product transfer, and further advance options. The lender did not specify the exact scale of...