Mortgage rates still available from 3.51% even though some lenders have put up their prices
Quick Summary
Bank and building societies have been raising the rates on some of their fixed mortgage products over the past week, but the increases have been modest. Most rates have increased by around 0.1%, although Nationwide announced larger increases of up to 0.17%.
Even though some lenders have raised their rates over the last week, the most competitive mortgages are still available from 3.51%.
HSBC is the latest big lender to increase the cost of its fixed-rate mortgages by around 0.1%, and Nationwide has also raised some of its fixed rates by around 0.19%. Despite recent marginal price rises, a selection of banks and building societies still offer fixed rates from 3.51%.
Santander for Intermediaries offers a range of low-cost mortgages from 3.51%, although its rates are likely to rise in the coming days. The bank's two-year fix is available to borrowers moving home with a 40% deposit for loans up to £2 million, with a £1,999 arrangement fee. Santander's new three-year fix is priced at around 3.7%, and its five-year fix at around 3.75%.
Aaron Strutt, product director at Trinity Financial, says: "The major banks and building societies had such a busy start to the year that the sheer volume of rate cuts and criteria changes was always going to slow down. Many lenders are still offering two-year fixes from 3.51% through Santander and five-year fixes from 3.73% through NatWest. The money markets seem to be pricing in a further Bank of England base rate cut in April, so I suspect even though rates are going up a bit now, they will come back down again."
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The information contained within was correct at the time of publication but is subject to change.
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