LONDON, May 25 (Reuters) – Major British mortgage lender Nationwide Building Society said it will raise the interest rates on selected new fixed-rate and tracker mortgages by up to 0.45 percentage points, with effect from Friday.
Some smaller mortgage lenders had already announced rate increases – as well as temporary product withdrawals – on Thursday in response to soaring funding costs, sparked by inflation data on Wednesday that raised bets on more Bank of England interest rate hikes this year.
UK’s Nationwide says will raise mortgage rates as markets convulse
