Halifax and Nationwide kick off the week with more fixed rate increases, but which lenders have the lowest mortgage rates?

by Aaron Strutt

Mar 23 2026

Halifax and Nationwide have kicked off this week with more fixed rate increases, but which lenders have the lowest mortgage rates?

For the moment, lenders like Barclays, TSB and NatWest have two-year fixed mortgages priced around 4.3%, and HSBC and NatWest have five-year fixes priced around 4.5%.

Halifax has announced it will increase its fixed rates from Tuesday, 24th March, and Nationwide Building Society has raised some of its fixed rates by around 0.3%. Market Harborough Building Society is withdrawing all of its mortgages, and more lenders are also pulling their fixed rates, including Clydesdale Bank.

The latest repricing reflects rising swap rates and higher gilt yields, which lenders use to price fixed mortgages, rather than a sudden change in the Bank of England base rate itself. The uncertainty and ongoing market panic are leading to constant rate rises.

Aaron Strutt, product director at Trinity Financial, says: "The lenders are still raising their fixed rates, but with Donald Trump announcing America and Iran are discussing an end to the war, it has eased some fears in the money markets. Nationwide's new two-year fixed rates will start from 4.5%, and its five-year fixes will start from 4.65%, its first-time buyer rates are more expensive."

"It is hard for borrowers to know which lenders are offering the best rates or whether they are getting a good fixed deal. Many lenders are still giving very little notice before they pull their rates, which makes applying for a mortgage directly with a bank or building society very challenging. This is where our expert mortgage advisers are helping borrowers secure the lowest rates, and they are also available to help new clients."

Why are mortgage rates going up?

The current increases are being driven mainly by market funding costs. Fixed mortgage rates are closely linked to swap rates, which have risen as markets reassessed inflation risks, government borrowing costs and the wider outlook for interest rates. When swap rates move up, lenders often reprice quickly to protect margins. At the moment, some lenders are finding the markets so unstable that they can't even issue mortgages, and this means the shelf life of the cheapest rates is often just a few days. 

What should borrowers do now?

If your current mortgage deal ends in the next few months, it may be sensible to review your options now rather than wait. In a fast-moving market, securing a deal early can give you protection against further increases, and in many cases, a broker can continue to monitor the market in case a better option becomes available before completion. This has become particularly relevant as lenders have already withdrawn products and repriced at very short notice.

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change.

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