Santander increases fixed rates for second time this week

Dariusz Karpowicz, director at Albion Financial Advice:

“Santander’s second rate hike in a week reflects the broader market’s reaction to rising Swap rates.

“As we approach summer, this trend hints at a looming tightening of lending, presenting hurdles for borrowers.

“Urgent Government intervention is warranted to aid current mortgage holders and first-time buyers, especially concerning affordability.

“Without decisive action, we face potential repercussions for the UK economy and property market.

“Implementing measures now can alleviate financial strain on households and foster a more robust market environment.”