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Fixed rates hiked by lending giant

Nationwide, the UK's second-biggest mortgage loans lender, has increased its costs for homebuyers.

The building society - which also provides personal loans and secured loans - has put up all new fixed rate mortgages by 0.2 per cent and its tracker mortgages by 0.51 per cent or 0.57 per cent.

Thousands of people will be affected by the changes - as the Nationwide is the UK's second-biggest mortgage lender.

Speaking to the BBC, the firm's director of mortgages Matthew Carter said: "Nationwide sympathises with anyone who is concerned about the availability of affordable mortgages."

A spokesperson added that the lender did not want to become "overly competitive" in current conditions.

Nationwide's latest monthly house price survey has revealed an overall fall in property costs of 0.6 per cent - testifying to the weakening market in the UK.

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