Mortgage Rate Hikes: What You Need to Know

HSBC has announced wholesale rate hikes across its residential and buy-to-let mortgage product ranges. This move is expected to have a significant impact on the mortgage market, with elevated hikes likely to stay for the foreseeable future.

HSBC’s mortgage rate hikes will affect many homeowners

The bank’s decision to increase mortgage rates is a response to the current economic climate. With the cost of living on the rise, many homeowners are feeling the pinch. The rate hikes will add to the financial burden of mortgage holders, making it even more challenging to keep up with repayments.

“The mortgage rate hikes are a clear indication of the current economic uncertainty. Homeowners need to be prepared for further increases in the coming months.” - Industry Expert

The impact of the rate hikes will be felt across the country, with many families struggling to make ends meet. The increased mortgage payments will put additional pressure on household budgets, making it essential for homeowners to review their finances and plan for the future.

Homeowners need to review their finances and plan for the future

In other news, Royal Mail’s incoming owner has refused to rule out stamp price hikes under his leadership. This move is likely to add to the financial burden of households, making it even more challenging to make ends meet.

Stamp price hikes could be on the horizon

Meanwhile, a major error that meant 500,000 families did not receive their scheduled child benefit has been “fixed”, according to HMRC. The error has caused significant disruption to families who rely on the benefit to make ends meet.

Families affected by the error will receive their payments soon

In other news, Virgin Atlantic has launched a new flight from Manchester to Las Vegas. The new service is expected to boost tourism between the two cities.

Virgin Atlantic’s new flight from Manchester to Las Vegas

Rolex has increased the price of some of its watches in the UK after the cost of gold surged. The price hike is likely to affect luxury watch enthusiasts who are looking to purchase a Rolex.

Rolex increases the price of some watches

London could be set for the second biggest listing in its history, with eyes fixed on the London Stock Exchange for details on a company that isn’t even listed.

London could be set for a major listing

GameStop shares have surged after a Reddit account that drove the 2021 meme stock mania shared its position in the video game retailer.

GameStop shares surge after Reddit post

Finally, have you ever wondered what happens to our brains when we shop? We’ve all learned how to be more conservative with our money amid an increase in the cost of living - but it’s still important to treat ourselves now and again.

Treating ourselves is important for our mental health