Nationwide and Virgin Money are increasing their mortgage rate range from July 16, with fixed rate deals rising by up to 35 basis points.
Nationwide said it will increase its fixed service and designated track rates by up to 35 basis points.
The increase will apply to products intended for first-time buyers, home movers, existing customers moving into their homes, and remortgage borrowers. Interest rates on conversion and additional borrowing products will remain unchanged.
Virgin Money is also raising mortgage rates across the buy and remortgage ranges.
For purchase loans, two- and five-year fixed rates will rise by up to 35 basis points, while 10-year fixed rates will rise by 20 basis points. Fixed rates for shared ownership will rise by up to 30 basis points.
For remortgage customers, Virgin Money will increase its two- and five-year fixed rates by up to 35 basis points, with 10-year fixed rates rising by 20 basis points.
The latest changes come as lenders including Barclays continue to adjust mortgage rates in response to movements in funding costs and market expectations of interest rates.
Nicholas Mendes, technical director of mortgages at John Charcol, said: “Following the wave of discounts earlier this month, lenders are adapting to the change in market conditions.
“The driver is funding costs. Swaps briefly fell below 4% in the one- to five-year range at the start of July, fueling the round of cuts that borrowers enjoyed just a week ago, but events in the Middle East have pushed them higher again, with two-year swaps now at 4.179% and five-years at 4.260%.
“Lenders price swaps, so some repricing was expected, and it’s worth keeping perspective. Rates are still well below where they were during the rally earlier this year, and the market has shown throughout 2026 that when conditions stabilize, lenders are quick to pass on lower costs to borrowers.”
