Mortgage costs soar as euro crisis hits rates | Mail Online
Mortgage rates have continued to climb this week, spelling bad news for those moving home or remortgaging.
The crisis in the eurozone has driven up the cost of wholesale funding for banks, and this in turn is being passed on to customers. It means many homeowners taking out a mortgage now will pay about £16 per month more than if they had applied for the deal a week ago.
Nationwide, ING Direct, Santander, Skipton BS and Scottish Widows have all increased rates recently. ING Direct’s two-year fixed-rate for those with a 40 pc deposit went from 2.65 per cent to 2.85 per cent, with a £1,945 fee
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