Barclays, TSB, Skipton Intermediaries, Nottingham Building Society and The co-operative bank for intermediaries have become the latest lenders to hike mortgage rates. 

TSB is pushing rates up on all fixed house purchase products by 0.15%.

In addition the lender is increasing prices on three-year fixed remortgage products by 0.15%.

Meanwhile, Barclays has increased rates in line with other lenders with rates going up by around 0.20%.

The bank last increased rates on 25 August.

Elsewhere, Nottingham Building Society has announced rates increases between 0.2% to 0.15%.

The society will push rates up on residential, standard buy-to-let (BTL), limited company BTL and retirement interest-only for both new business and retention.

New customers will see rates increase on foreign national and life happens products.

Skipton Intermediaries is also hiking rates, with increases across its entire fixed mortgage range for new business and existing customers.

The lender has also announced the introduction of five-year fixed BTL products for existing customers only.

In addition, The co-operative bank for intermediaries says it will withdraw its current range at 5pm tomorrow (8 September) with the updated range available on 9 September.

Commenting on the latest round of rate hikes, John Charcol mortgage technical director Nicholas Mendes says: “There has been a clear change in mortgage pricing over the past few days, with more major lenders now starting to move rates higher.”

“HSBC and NatWest have already increased rates since the start of September, while Santander, TSB and Skipton have also announced increases across parts of their ranges. What is notable now is not one lender making an isolated move, but a growing number beginning to reprice in the same direction.”

“That is largely lenders catching up with what has already happened in the wholesale market. Two-year swaps are around 4.27% and five-year swaps around 4.37%, both roughly 0.20 percentage points higher than they were a month ago. Lenders can absorb some of that movement for a period to remain competitive, but if funding costs stay elevated, eventually pricing must adjust.”

“The market is still functioning normally, and this is nothing like the rush of product withdrawals seen during some previous periods of volatility. Competition remains strong and lenders still want to write business, but the margin available to keep undercutting one another is becoming tighter. That makes further selective increases over the coming days more likely if swaps remain where they are.”