Mortgages Plc ups rates by 1%

The change will result in some interest rates being increased by 1%, as well as reducing the amount of money that can be borrowed. All two-year and three-year fixed rates will see rate rises of between 0.3% and 1% and two-year discount products will have a flat discount of 0.5% in future. In addition, reversion rates are being increased by 1%. The maximum loan amount has been lowered to £300,000 for 90% LTV product, while all other adverse products will be able to loan up to £500,000. The changes come into effect on 16 October and all applications for current products and criteria must ...