TSB will increase rates by 50 basis points on residential and buy-to-let deals tomorrow and Skipton Building Society will increase prices by up to 25 basis points.
The latest increases at TSB relate to new customer deals and are in addition to the increases previously announced last week.
On Friday, the lender increased prices for new customer deals by up to 45 basis points.
Skipton’s increases of up to 25 basis points will apply to fixed rate deals for both new and existing customers.
Kensington also increases interest rates on Wednesday.
Earlier today, NatWest revealed it would hike prices upwards for the second time in less than a week, with increases of up to 28 basis points in the latest round.
Meanwhile, Clydesdale has urged advisers to take extra care when packing boxes to avoid rejection, warning that it currently takes an average of 18 working days to process applications.
John Charcol, technical mortgage manager Nicholas Mendes, says: “Eighteen working days is certainly at the longer end of the scale, but it does require some context. We are in a market where lenders are trying to manage two things at once: competitive pricing and service levels.
“If a lender keeps interest rates stable or makes the best bargains within the market, this can very quickly lead to a sharp increase in the number of applications.
“At the same time, more borrowers are now acting earlier than in the past, with many looking to secure a new deal up to six months before their current fixed rate expires, rather than waiting for the more typical three-month period.
“So it’s not just about one lender falling behind.
“We have seen in recent weeks that service times have increased at several big names.
“For example, HSBC is currently showing around 15 working days for some residential cases, 21 for provisional acceptance or referral, and 18 for self-employed applications.
“That gives you an idea of how stretched parts of the market have become.
“What it really shows is how quickly demand can increase as interest rates change and borrowers try to stay ahead of further changes.”