Last updated on 11 March 2024 by Claire Flynn

Which lenders have increased mortgage rates?

Mortgage borrowers across the UK are no doubt frustrated to see that three of the big six lenders, Santander, Halifax and NatWest, have announced rate increases across selected products, as have the Co-operative Bank.

The Co-operative Bank announced the biggest hikes, with some two, three and five-year fixed products being increased by up to 0.72%. 

This is then followed by Santander who, from today, are increasing a number of its fixed rates for purchase and remortgage customers by between 0.06% and 0.43%.

Halifax are increasing certain deals by 0.2%, and NatWest are increasing selected two and five-year deals by 0.1%.  

What about the base rate?

All of these mortgage rate increases come ahead of the Bank of England’s next base rate decision on 21st March, which has remained at 5.25% since August. 

It’s difficult to predict exactly what the Bank of England will do next week, and what the subsequent impact on mortgage rates will be. But one thing is reasonably certain, those who are due to remortgage soon, are likely facing a big increase in their mortgage payments. 

How can I find the best mortgage deal?

With mortgage rate volatility continuing, if you are looking for a new deal, it's worth seeking advice from an expert broker who can look at options from across different lenders to find best options for you.

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*Mortgage rates provided by Mojo Mortgages and are a correct as of 11 March 2024