HSBC raises mortgage rates and pulls 'cheapest-ever' fix

Market expert says move could signal end of record low interest rates

The first evidence has emerged that the era of record-low fixed-rate mortgages may be coming to an end after HSBC withdrew its "cheapest-ever" deal and increased rates on other products.

HSBC had been offering a mortgage that allowed customers to lock in for two years at a rate of 0.99%, but this deal has been pulled with immediate effect. The bank's new mortgage offers are coming in at up to 0.5% higher.

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