Mortgage rates rise to beat the Bank of England

Woolwich, the Barclays-owned mortgage lender, has raised the cost of its mortgages pegged to the Bank of England base rate ahead of tomorrow’s expected cut in the base rates.

The UK’s sixth-biggest lender has increased fixed and tracker rates by up to 0.3 percentage points. A two-year tracker for borrowers with a 40% deposit has increased from 2.74% above base to 2.99% above base, reports The Times.

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