Mortgage lenders change policies – roundup

Halifax, HSBC, NatWest and Virgin Money have all altered their lending policies.

Yesterday Virgin Money increased mortgage rates by up to 0.49% on 2, 3, and 5-year fixes to 90% LTV with a £995 fee, while there were also increases to its 7-year and 10-year fixes.

Today NatWest is making some rate reductions, including cuts of 0.06% on some 2-year deals and 0.09% on 5-year deals.

Halifax is refreshing its product range on Monday, which will see remortgage rates reduced by between 0.04% and 0.40%.

From Monday HSBC will lend a lower proportion of income to those who earn less.

For example if the LTV is less than 85%, it will lend 4.49x income for those earning less than £30,000 a year, but it will lend at 5x income for those earning more than £100,000.