According to the latest interest rate monitor from Moneyfacts, average mortgage rates rose again this week as lenders tightened and repriced their ranges.
This wave of price revisions has been caused by the inflationary consequences of the conflict in the Middle Eastcausing swap rates to soar and markets to speculate that the Bank of England’s expected rate cuts will be cancelled.
The average two-year fixed interest rate is now 5.10%, increase of 26bps in a weekwhile the typical five-year rate is now 5.19%, an increase of 23 basis points.
Adam French, head of consumer finance at Moneyfacts, said: “At least 530 residential mortgages have been foreclosed on since March 9, representing around 7.5% of the market, although the pace of withdrawals has slowed over the week.
“Although the scale is nowhere near the shock seen in the aftermath of the ill-fated mini-Budget of September 2022, when 935 products, representing more than a quarter of the market at the time, disappeared in one day, borrowers are now seeing these changes reflected in prices.
“The very cheapest deals are also going up. The lowest available mortgage rate is currently 3.78%, after rising from 3.51% at the start of March, and is now at the highest level since April 2025.
“The magnitude of price revisions in the mortgage market has been substantial. Many lenders have withdrawn or relaunched products at higher rates while reassessing prices in response to ongoing market volatility.”
Accord Mortgages increased some fixed interest rates by as much as 58 basis points, while Aldermore and LendInvest also made significant increases.
Several lenders have temporarily withdrawn some or all of their mortgage ranges, including Cumberland Building Society, Family Building Society, Skipton Building Society and Perenna, as they pause to reassess prices before relaunching products.
Notable rate changes
Agree Mortgages – Selected fixed rates increased by up to 28 bps. Variable tracker speeds increased by up to 4 fps. Afterwards, the fixed rates were increased by a maximum 58bps.
Aldermore – Select flat rates have been withdrawn and some have been relaunched at higher rates. Fixed rates increased by 61bps.
Mortgages April – Fixed rates increased by a maximum 35bps.
Atomic bank – Near prime fixed rates increased by 25bps. All other fixed rates have been increased by 30bps.
Bank of Ireland Intermediaries – Selected flat rates withdrawn and relaunched at higher rates
Bank of Ireland, UK – Selected fixed rates increased by maximum 18bps. Selected flat rates withdrawn
Barclays Mortgage – Selected fixed rates increased by 10bps. Selected fixed rates will then be increased by a maximum 30bps.
Buckinghamshire Building Society – Selected fixed rates withdrawn. Fixed rates increased by maximum 50bps. Discounted variable rates increased by 20bps.
Chorley Building Society – fixed rates are withdrawn and relaunched at higher rates.
Clydesdale Bank – Selected fixed rates increased by maximum 36bps.
Coventry Building Society – Fixed rates increased by a maximum 20bps.
Cumberland Building Society – Mortgage range temporarily withdrawn.
Darlington Building Society – Selected flat rates withdrawn and relaunched at higher rates
Family Building Association – Fixed rates temporarily withdrawn.
first directly – Fixed rates increased by a maximum 20bpsthen continue 25bps
Foundation – Selected fixed rates increased by maximum 10bps. Selected flat rates withdrawn.
Furness Building Society – Fixed rates increased by 25bps.
Gen H – Selected fixed rates increased by 10bps. Selected flat rates withdrawn.
HSBC – Fixed rates increased by 20bps.
Halifax – Selected fixed rates increased by 38bps. Variable tracker rates increased by 10bps.
Kensington – Selected fixed rates withdrawn.
Leeds Building Society – Selected fixed rates increased by maximum 30bps. Some products have been withdrawn and relaunched.
Leek building association – Selected fixed rates increased by 10bps. Then the fixed rates were increased 20bps.
LendInvest Mortgages – Fixed rates increased by a maximum 50bps.
Lloyd’s Bank – Selected fixed rates increase by 38bps. Variable tracker rates increased by 10bps.
Marsden Building Association – Selected flat rate withdrawn.
NatWest – Fixed rates increased by a maximum 35bps.
NatWest Int. Sols – Fixed rates increased by a maximum 35bps.
National Construction Association – Fixed rates increased by a maximum 20bps.
Newcastle Building Society – Some fixed rates withdrawn. Selected fixed rates increased by maximum 40bps.
Nottingham Building Society – Some fixed rates withdrawn. Selected fixed rates increased by 13bps. Then the fixed rates were increased 20bps.
Penrith Building Society – Fixed rate range temporarily withdrawn
Perenna – Range temporarily withdrawn
Principality Building Society – selected fixed rates increased by 30bps. Then the fixed rates were increased 20bps.
Progressive construction company – Selected fixed rates increased by maximum 43bps.
Royal Bank of Scotland – Fixed rates increased by a maximum 35bps.
Saffron Farming Association – Selected fixed rates withdrawn
Santander – Selected fixed rates increased by maximum 24bps. Variable tracker rates increased by maximum 20bps.
Scottish Building Association -Selected flat rates withdrawn and relaunched at higher rates. Selected variable rates withdrawn
Skipton Building Society – Range temporarily withdrawn
TSB – Selected fixed rates increased by maximum 15bps. Afterwards, the fixed and variable rates were increased 50bps.
The Cooperative Bank for Ints – Fixed rates increased by a maximum 20bps.
Tipton & Coseley Building Society – Fixed rates increased by 25bps
Vernon Building Society – Mortgage offer temporarily withdrawn and relaunched at higher rates
Vida Home Loans – Mortgage offer temporarily withdrawn and relaunched at higher rates
Virgin money – fixed rates increased by a maximum 21bps
West Brom Building Society – Some fixed rates withdrawn. Selected fixed rates increased by 15bps. Fixed rates increased by maximum 85bps.
Yorkshire Building Society – Fixed rates increased by a maximum 46bps, then until 58bps. Variable tracker rates increased by 5bps.