Halifax under fire over new changes

Dariusz Karpowicz, Director at Albion Financial Advice, said: "The news today is a mixed bag for mortgage hopefuls. "Santander and NatWest's rate hikes are certainly a setback, especially after the recent optimism around falling swap rates. However, those swap rates, which reflect lenders' borrowing costs, have been dropping in the 5-year market, leading some brokers to believe mortgage rates may actually fall in the coming weeks. "The key factor to watch is next week's inflation figures. If they show a decrease, it could signal the Bank of England is nearing a pause, or even a cut, in interest rates. This would likely translate to lower mortgage rates from lenders. The disappointing Spring Budget, which lacked significant measures to address the UK housing market, certainly doesn't help. "It reinforces the idea that affordability will remain a challenge, even if rates do come down. So, while today's news is discouraging, there's still a chance for better rates in the near future"