HSBC and Nationwide hike mortgage rates as inflation fears stalk the City

Aaron Strutt, product and communications director of brokers Trinity Financial said: “If rates only go up by 0.25% then it won’t be as bad, but it seems like there is a long way to go before the conflict in the Middle East is resolved and this means more uncertainty in the money markets. This often leads to higher borrowing costs which are then passed onto consumers and lead to higher rates.