The first sign that the global credit crisis could hit the main UK mortgage market has emerged with a Morgan Stanley-backed lending specialist set to raise its rates on prime buy-to-let products. In the next two weeks, Advantage will raise rates on its buy-to-let range as well as on subprime and self-certification mortgages. Higher interbank lending rates could lead to higher mortgage rates for variable products across the industry, although as yet there are no signs of other prime lenders raising rates to reflect higher borrowing costs.

This entry was posted by Gwen Robinson on Monday, September 10th, 2007 at 5:29 and is filed under Capital markets. Tagged with Advantage, morgan stanley. Edit this entry.