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Interest rates at major financial institutions will go up and down this week.

Rates have moved in both directions this week, with Nationwide, M Powered, Nottingham and Vida joining the reprice.

Barclays said earlier today that it would cut interest rates by up to 30 basis points, with more housing products below 4%.

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Nationwide and The Mortgage Works

The National Building Society will increase selected fixed interest rates by up to 15 basis points.

This includes new business products, existing customer moves, transfers and additional borrowing coverage.

Brokers wishing to secure existing rates should generally submit a determination application by 8pm today, click on 'Reserve Product' and follow the subsequent instructions.

Mortgage Works, the company's buy-to-let arm, will also be increasing some of its two-year fixed rates at 65% loan-to-value, with a fee of £3,995 for new customers.

Some five-year fixes will be eliminated and certain switcher fees will increase.

M powered

The good news for brokers and borrowers is that M Powered will be cutting its two-year fixed rate by up to 30bps today at 5:30pm.

Following the changes, two-year rates for new customers will start at 4.11% at 60% LTV with a fee of £999.

Two-year interest rates for remortgage customers start from 4.29% at 60% LTV with a fee of £999.

Chief executive Stuart Cheatham said: “Swap rates have continued to rise over the last week, particularly in five- and 10-years, as the Chancellor's Autumn Budget approaches and financial markets remain tense.”

“Despite this, following last week's reduction in three-year fixed interest rates, we will also reduce two-year fixed interest rates today.

“We recommend that borrowers seek independent financial advice before making any decisions regarding their mortgage, especially at this time of volatile mortgage rates.”

Nottingham Building Society

Financial institutions are improving flexibility for expats and returning expats, as well as reducing interest rates on these products by up to 10 basis points.

We are expanding the types of visas we accept, including Global Talent, Pre-Settlement Visa, British Visa, Overseas British Visa, Health and Care Worker Visa, Skilled Worker Visa and Tier 2 Visa (allowed by December 2020). (if applicable), dependent visa (for joint applicants), etc. .

Sales Director Alison Parrett said: “Our goal is to create attractive and flexible products that meet the unique needs of our customers, from seasoned expats and returning expatriates to customers looking for specific options such as retirement benefits only or purchase. Please make sure to provide it. ”

vida home loan

Lenders are scheduled to withdraw from a number of five-year fixed rate purchase and sale agreements at 6pm tomorrow.

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