Halifax is increasing all two-, three-, and five-year fixed rates for home movers and first-time buyers by up to 20bps. Two-year tracker rates will rise by as much as 10bps for both purchase and remortgage customers.
TSB is raising selected residential rates by up to 20bps and buy-to-let rates by up to 15bps.
According to Moneyfacts, the average two-year fixed rate has risen to 5.51% from 5.46% the previous week, while the average five-year fixed rate has increased to 5.53% from 5.48%.
Aaron Strutt (pictured right), product director at Trinity Financial, said the Halifax move could signal further increases across the market. “This Halifax rate change probably means that Lloyds will be pushing up its cheap fixes as well, which undercut virtually all of the other lenders by quite some margin,” he said. “Halifax has a decent 4.33% two-year fix and a 4.37% five-year fix available until close of business today.