Nationwide and Virgin Money will increase a range of mortgage interest rates from July 16, with fixed rates rising by as much as 35 basis points.
Nationwide said it will increase selected fixed and tracker rates by up to 35 basis points.
The increase applies to products for starters, movers, existing customers who are moving and refinancers. The rates for switching and additional loan products remain unchanged.
Virgin Money is also increasing mortgage prices on its purchase and remortgage ranges.
For purchase loans, two- and five-year fixed rates will increase by up to 35 basis points, while ten-year fixed rates will increase by 20 basis points. Fixed rates for shared ownership will increase by up to 30 basis points.
For customers switching to a new mortgage, Virgin Money will increase the two- and five-year fixed rate by up to 35 basis points, while the 10-year fixed rate will increase by 20 basis points.
The latest changes come as lenders, including Barclays, continue to adjust mortgage prices in response to movements in funding costs and market expectations for interest rates.
John Charcol, technical mortgage manager Nicholas Mendes, said: “Following the wave of cuts earlier this month, lenders are adapting to a change in market conditions.
“The driving force is cost financing. Swaps briefly fell below 4% over one to five years in early July, fueling the round of cuts a week ago, but events in the Middle East have pushed them back up, with two-year swaps now at 4.179% and five-year at 4.260%.
“Lenders are discounting the swaps, so some repricing was to be expected, and it’s worth keeping perspective. Interest rates remain well below where they peaked earlier this year, and the market has shown in 2026 that when conditions are favorable, lenders can quickly pass on falling costs to borrowers.”