MORTGAGE borrowers are being hammered with higher costs as major lenders hike rates and pull top deals despite a recent cut to the Bank of England base rate.
In a blow to buyers, HSBC, Barclays, Santander and Nationwide are among the big lenders that have upped prices this week.
Over the past month around 200 deals have disappeared from the market, in the biggest month-on-month reduction since July 2023, according to analysis from data site moneyfactscompare.co.uk.
In a blizzard of price increases this week, Nationwide has pushed up rates putting an end to its sub 4% products.
HSBC has now hiked rates twice within as many weeks.
At the same time, Santander has also raised for new and existing customers by up to 0.31%.
It comes after the Bank of England last week cut the base rate from 5% to 4.75%.
A reduction in central interest rates usually …