August 2, 2018 / 12:05 PM / 13 days ago

Barclays raises UK variable mortgage rates by 0.25 percent

LONDON (Reuters) - Britain’s Barclays will increase its standard variable UK mortgage rate by 0.25 percent from September after the Bank of England raised interest rates by the same amount, a spokeswoman said on Thursday.

The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville

That will take interest rates on the bank’s standard variable rate mortgages to 5.24 percent. Rates on Barclays’ buy-to-let standard variable rate mortgages will also increase by 0.25 percent, to 5.74 percent, the spokeswoman said.

The spokeswoman did not specify whether Barclays would pass on the rate rise to savers.

Reporting by Emma Rumney, editing by Sinead Cruise

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