Halifax, NatWest and TSB make fixed rate changes - what's happening in the mortgage market so far this week?

by Aaron Strutt

Mar 31 2026

It has been a busy start to the week with NatWest, TSB, Skipton Building Society, and Halifax being the latest big lenders to mostly increase their mortgage rates. 

Halifax is raising its two and three-year fixed rates by up to 0.15%, and its five-year fixes by up to 0.05%. NatWest’s two-year fixes were pretty much the cheapest in the market, but as the lender has increased most of their rates, their fixes now start at 4.75%. NatWest also raised its tracker rate mortgages by 0.28% to just below 4.50%. TSB has made two rate hikes in a week, while Skipton announced rate increases of up to 0.25% across fixed rate products, for new business and existing customers

While the mortgage rate increases are getting smaller, they are still coming through. Coventry Building Society has lowered some of its first-time buyer rates today, and swap rates are lower than before.  It seems unlikely that fixed rates will come down much at the moment, although Nationwide still has a two-year fixed rate around, and Halifax has a two-year tracker that is 0.17% over the 3.7% Bank of England base rate. Mortgage lender Gen H actually reversed its decision for the second time on passing on increases in fixed-rate funding costs.

Aaron Strutt, product director at Trinity Financial, says: "More of the lenders are offering fixed rates between 4.75% and 5%, so if you can lock into fixes any cheaper, you are doing well. Tracker rates are also much more popular, and while there is always the risk that the base rate rises and monthly payments go up, many borrowers will think it’s a risk worth taking given the big price difference between trackers and most fixed rates.

"The lenders are still raising rates due to a combination of rising funding costs and efforts to manage their service standards. Some lenders have been getting a few weeks’ worth of business in a day or two, especially once they send out rate increase notification emails to brokers. The rush in applications, mainly from brokers, means they are much busier than usual, and the rate hikes are in part designed to spread the load to other banks and building societies and stop brokers from submitting business until they can manage their workloads again." 

Is there any chance mortgage rates will come back down again?

There is a chance mortgage rates will come back down again, but this depends on funding costs coming down, which will only happen when the war in the Middle East stops or possibly if the Bank of England base rate drops significantly. 

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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