Santander, the Co-operative Bank and NatWest have all announced changes, which will be effective from tomorrow (12 March).
Santander has launched a 95% LTV two-year fixed rate for residential purchases.
The lender will increase fixed and tracker rates in the new business and product transfer ranges.
For new business, selected standard residential fixes have gone up by as much as 0.43% for purchases and remortgages while all standard residential tracker rates will go up by as much as 0.32% for purchases and remortgages.
New business buy-to-let (BTL) fixes will be reduced by between 0.09% and 0.23%.
For product transfers, selected residential fixes will go up by between 0.02% and 0.36%.
The Co-operative Bank has also announced changes including the relaunch of its mainstream and BTL mortgage ranges for both new business and product switching.
New business residential two- and five-year fixes with a £1,999 fee have gone up by up to 0.22% while the BTL two-year fixes have increase by up to 0.19%.
For product switches, mainstream two-, three- and five-year fixes have risen by up to 0.72% and BTL two-, three-, and five-year fixes have gone up by up to 1.09%.
Help-to-Buy two-, three-, and five-year fixes have been increase by as much as 0.72%.
NatWest has amended its existing customer product range with rates going up by 0.10% on selected two- and five-year deals for switcher products.
It has also made changes to end dates with the two-year term end dates moving from 30 June 2026 to 31 July 2026 and five-year term end dates moving from 30 June 2029 to 31 July 2029.
Meanwhile, Principality Building Society has launched six mortgage acquisition products this morning (11 March).
The new products include two- and five-year 95% loan-to-value (LTV) products for new build properties and two- and five-year 95% shared ownership mortgage products.
Rates on a two-year fix 95% LTV new build product start at 5.90% while the five-year fix rates start at 5.30%.
For 95% shared ownership mortgage products, two-year fixes start at 5.89% while five-year fixes start at 5.25%.
Two-year sonia swaps lifted to 4.486% on 7 March, from 4.419% on 8 February, data from Chatham Financial shows. Five-year sonia swaps edged lower to 3.877% from 3.878% over the same period.
Charcol mortgage technical manager Nicholas Mendes says: “Lenders have been swift to reprice early in the week, Santander, co-operative, NatWest, and Principality making marginal increases in their latest round of pricing. Five-year money has edge downwards in recent days which will see a positive reversal in pricing on five-year fixed rates over the next fortnight.”
“The market needs some stimulation however small even 0.10% rate cut will provide enough confidence on future bank rate movement to price more favourably, though June looks likely to be when we do see the first rate cut.”
