The typical two-year residential fixed rate is now 5.35%, up 25bps in a week, while the average five-year fix is 5.39%, a rise of 20bps.

Two- and five-year swap rates, which underpin fixed mortgage pricing, have now risen to by around a full percentage point to hit their highest level in more than a year.

Moneyfacts head of consumer finance Adam French said: “A large number have increased fixed rates, including major high street names such as Barclays, NatWest, Nationwide and Santander, while others such as Coventry Building Society and Virgin Money have also introduced notable rises.

“At the same time, many lenders have withdrawn products or relaunched ranges at higher rates as they respond to changing market conditions. Atom Bank and Bank of Ireland have both replaced their ranges, while several building societies including Skipton, Bath, Hinckley & Rugby and Melton have withdrawn fixed deals. Lenders are quickly having to react to volatility in funding costs.”

Noteable rate changes this week

Atom Bank – Range withdrawn and replaced

Bank of Ireland Intermediaries – Range withdrawn and replaced

Bank of Ireland UK – Range withdrawn and replaced

Barclays Mortgage – Selected fixed rates increased by up to 15bps

Bath Building Society – Selected fixed rates withdrawn

Bluestone Mortgages – Fixed rates increased by up to 30bps

Chorley Building Society – Fixed rates withdrawn

Clydesdale Bank – Selected broker and professional fixed rates withdrawn

Coventry Building Society – Fixed rates increased by up to 30bps

Darlington Building Society – Fixed rates withdrawn

Dudley Building Society – Selected fixed rates increased by up to 45bps and end dates extended

Foundation – Fixed rates increased by up to 25bps

Furness Building Society – Selected fixed rates increased by up to 31bps

Furness Building Society – Selected fixed rates withdrawn

Halifax – Fixed rates increased by up to 15bps

Harpenden Building Society – Revert rate reduced by 15bps

Hinckley & Rugby Building Society – Fixed rates withdrawn

Hodge – Fixed rates increased by up to 48bps

Leeds Building Society – Fixed rates increased by up to 30bps. Selected fixed rates withdrawn

Leek Building Society – Selected fixed rates increased by 15bps

Lloyds Bank – Selected fixed rates increased by up to 15bps

Mansfield Building Society – Selected fixed rates increased by 25bps

Melton Building Society – Selected fixed rates withdrawn

NatWest – Fixed rates increased by up to 35bps

NatWest Int Sols – Fixed rates increased by up to 35bps

Nationwide Building Society – Selected fixed rates increased by up to 35bps

Newcastle Building Society – Fixed rates increased nu up to 35bps. Selected fixed rates withdrawn

Pepper Money – Selected fixed rate withdrawn. New fixed rates launched

Perenna – New fixed rates launched

Precise – Selected fixed and variable rates withdrawn

Progressive Building Society – Select variable and fixed rates withdrawn. Selected variable rates increased by 30bps or reduced by 9bps. Selected fixed rates increased by up to 50bps

Royal Bank of Scotland – Fixed rates increased by up to 35bps

Santander – Variable rates increased by 35 bps. Fixed rates increased by up to 35bps. Then mortgage range increased by 30bps

Scottish Building Society – Selected fixed rates withdrawn

Skipton Building Society – Mortgage range withdrawn

Suffolk Building Society – Fixed rates increased by up to 19bps and end dates extended

The Co-operative Bank for Ints – Fixed rates increased by 30bps

The Mortgage Lender – Selected fixed rates increased by up to 35bps

Together – Fixed rates increased by up to 50bps

United Trust Bank – Selected fixed and variable rates withdrawn. Fixed and variable rates increased by 20bps

Vernon Building Society – Selected fixed rates withdrawn

Vida Homeloans – fixed rates increased by up to 25bps

Virgin Money – Fixed rates increased by up to 35bps