The average rate for a two-year fix rose from 2.51 per cent to 2.53 per cent this week, shows data from Moneyfacts.

The five-year fix rose too, from 2.69 per cent to 2.72 per cent while the average rate for a three-year fix fell from 2.79 per cent to 2.75 per cent.

The 10-year fix stayed at 2.85 per cent throughout the week.

Two-year fix

At 65 per cent LTV, the average rate gained 2 basis points, going from 2.38 per cent to 2.40 per cent.

There was a slight change in this direction at 90 per cent LTV too, where the average rate ticked up from 3.64 per cent to 3.65 per cent.

Meanwhile, at 60 per cent LTV, the average rate dropped slightly, from 1.76 per cent to 1.75 per cent.

Three-year fix

It was a busy week within this fix. The biggest change was at 75 per cent LTV, where the average rate shed 5 basis points, going from 2.39 per cent to 2.34 per cent.

At 80 per cent LTV, the average rate moved downward too – going from 2.93 per cent to 2.89 per cent.

And at 65 per cent LTV, the average rate fell from 2.06 per cent to 2.02 per cent.

At 85 per cent LTV, the average rate increased slightly, moving from 3.02 per cent to 3.06 per cent during the week.

Five-year fix

Here, the biggest moves counterbalanced each other, moving 2 basis points in each direction.

At 65 per cent LTV, the average rate increased from 2.39 per cent to 2.41 per cent and, at 50 per cent LTV, the average rate dropped from 2.53 per cent to 2.51 per cent.

10-year fix

Despite a static headline average rate, the only move within this fix this week was significant: at 80 per cent LTV, the average rate dropped from 2.96 per cent to 2.87 per cent.

Moneyfacts finance expert Eleanor Williams says: “Some positive news this week, particularly for first-time buyers, as we have seen further movement in the 90 per cent LTV sector as NatWest add to the ranks of providers returning higher LTV products to their ranges, as well as additions from lenders such as Furness Building Society and Saffron Building Society.

“At 85 per cent LTV both Accord Mortgages and Principality added new deals to their offerings, while TSB withdrew deals available at up to 85 per cent LTV which carry no fee.

“Providers are continuing to tweak their ranges, and we have seen rate reductions from such as Santander, Chelsea Building Society, and Nottingham Building Society – with the latter cutting one deal by 0.80 per cent.

“While the sector remains fluid and changes continue apace, prospective borrowers would be wise to seek support from an independent financial advisor to make sure they’re aware of the most up to date options for their circumstances.”