Average fixed mortgage interest rates rose to nearly 6% this week as lenders continue to repricing, according to the latest Moneyfacts rate watch bulletin.
The typical two-year fixing rate is now 5.92%, the highest level in more than two years and up from 5.84% last week. Meanwhile, the average five-year fixed rate is now 5.94%, compared to 5.88% last week.
“Over the past week, average mortgage rates have continued to rise, albeit at a slightly gentler pace compared to the chaos of last week,” said Caitlin Estell, personal finance analyst at Moneyfacts.
“Lenders have made mixed changes, with a few cuts hidden between the increases and most appear to have caught up with the sharp rises in swap rates, but with a sensitive market the market remains vulnerable to any sudden shocks.
“The volume of repricing in recent months has been putting persistent pressure on borrowers, with even the cheapest two-year deals rising by more than one percent. With inflation expected to reach 4.1% during the first quarter of 2027, the Bank of England may face increasing pressure to increase interest rates. While lenders have already priced in this rise, there is also the possibility that a rise in the benchmark interest rate could lead to a reassessment of their mortgage rates.”
Fixed price changes
- AIB (NI) – Fixed rate mortgages through 2028 rose as much as 48 basis points
- Barclays Mortgage – fixed fixed rates for remortgages increased by up to 25 basis points. The fixed interest rate of 5.12% increased by 30 basis points. Springboard’s fixed interest rate was reduced by 1 basis point.
- Beverley Building Society – Select fixed rate mortgages increased by up to 20 basis points
- Darlington Building Society – Select fixed rate mortgages increased by up to 20 basis points
- Basis – Fixed rate mortgages rose by up to 45 basis points (excluding 7.49% and 7.59% for five years which remain unchanged
- Gen H – Select fixed rate mortgages were reduced by 10 basis points
- HALIFAX – Select fixed-rate mortgages rose 11 basis points. Reducing fixed-rate mortgages at 5.73% and 5.64% until 2036 by one basis point.
- Hodge – Fixed-rate mortgages rose 57 basis points
- HSBC – Fixed interest rate changes by up to 33 basis points
- Leeds Building Society – Increase fixed rate mortgages by up to 20 basis points
- Lloyds Bank – Select fixed rate mortgages rose as much as 11 basis points. Fixed rate mortgages set to 30.11.36 have been reduced by one basis point
- NatWest – quoted fixed rates have been reduced by up to 22 basis points
- NatWest Int Sols – Specified fixed rate mortgages have been reduced by up to 22 basis points
- Nottingham Building Society – Fixed rate mortgages increased by up to 34 basis points
- Emirate Building Society – Increase fixed rate mortgages by 10 basis points
- Progressive Building Association – Select fixed-rate mortgages increased by up to 41 basis points
- Royal Bank of Scotland – Fixed interest rates have been reduced by up to 22 basis points.
- Saffron Building Society – Increase fixed fixed rates by up to 30 basis points
- Santander – Fixed interest rates were lowered by 4-16 basis points
- Scottish Building Society – RIO fixed rates rose by 25-30 basis points
- Skipton Building Society – Fixed rate mortgages have been reduced by up to 29 basis points
- West Broome Building Society – Increase fixed rate mortgages for new construction by up to 50 basis points
Track and rate changes
- Beverley Building Society – 4.64% mortgage variable rates for two years reduced by 20 basis points
- Chorley Building Society – Select discounted variable rates reduced by 4 basis points or increased by up to 37 basis points
- Hanley Economic Construction Association – Increase discounted variable interest rates for interest-only and senior loans by 19-47 basis points
- Leeds Building Society – Variable tracking rates increased by 10 basis points
- Mansfield Building Society – Increased discounted variable rate mortgages by 20 basis points
- Principality Building Society – Variable tracking rates increased by up to 15 basis points
Product launches, recalls and other changes
- Barclays Mortgage – 2-year offset tracker withdrawn. Selected fixed prices have been withdrawn
- Chorley Building Society – New fixed rates of 4.96% and 6.01% up to 95% LTV have been launched. Variable renewal rates for life and credit are withdrawn later
- Basis – Launch of new Formula 1 fixed interest rates of 6.49% for two years and 6.89% for five years
- Gable Mortgages – New Lender to Moneyfacts. Five-year fixed rates of 6.60% up to 100% of LTV and 6.40% of new build price up to 100% of LTV have been launched.
- Hinckley & Rugby Building Society – Fixed rate ranges for new credit assistance and credit renewals have been launched
- Marsden Building Society – launching new fixed rate of 5.99% up to 80% of LTV; New lending rates for Retirement, Late Life and RIO have been introduced with fixed rates starting at 5.85%.
- Mansfield Building Society – New two-year fixes of 5.99% up to 80% LTV and 6.39% up to 90% LTV have launched, plus a home purchase product of just 6.75% up to 95% LTV.
- NatWest – Fixed rate expiry dates extended by one month.
- NatWest Intermediary Solutions – Extended fixed price expiry dates by one month.
- Newcastle Building Society – New fixed rates have been launched starting at 5.80%, along with new tracking products starting at 4.50%.
- Nottingham Building Society – Fixed price end dates extended by one month; Make it possible to withdraw fixed rates.
- Royal Bank of Scotland – Extending fixed interest expiration dates by one month.
- Saffron Building Society – New two and five year fixed rates have been launched, including a 95% LTV FTB product and bespoke rates for the self-employed from 6.17%.
- Santander – many new FTB, STB and fixed rates withdrawn; Repricing new and existing products.
- Skipton Building Society – Completion dates have been extended across the range by one month; New fixed LTI Booster rates of 5.67% and 5.77% launched, up to 90% LTV
