The average rate for a 10-year fix moved from 2.84 per cent to 2.89 per cent this week, shows Moneyfacts data.
Within the same time frame, the two- and five-year fixes stayed put at 2.57 per cent and 2.75 per cent, respectively, while average rate for a three-year fix rose from 2.65 per cent to 2.67 per cent.
Two-year fixes
Within this fix, the most significant change took place at 65 per cent LTV, where the average rate fell from 2.36 per cent to 2.33 per cent.
At 85 per cent LTV, the average rate dropped slightly, from 3.07 per cent to 3.06 per cent.
Meanwhile, the average rate for a 90 per cent LTV two-year fix gained 1 basis point, moving to 3.50 per cent.
Three-year fixes
At 80 per cent LTV the average rate dropped 2 basis points, moving from 2.60 per cent to 2.58 per cent.
It was an otherwise quiet week at this fix. The average rate at 65 per cent LTV lost 1 basis point to end the week at 2.04 per cent and, at 90 per cent LTV, the average rate lost 1 basis point too, coming to 3.54 per cent.
Five-year fixes
It was within this fix where the most action took place – at 95 per cent LTV the average rate gained 11 basis points, moving from 3.75 per cent to 3.86 per cent.
There was movement at 90 per cent LTV, as well – here, the average rate increased from 3.65 per cent to 3.67 per cent.
And at 65 per cent LTV the average rate shed 3 basis points, falling to 2.31 per cent.
10-year fixes
The movements fuelling the headline rate drop here took place at 60 per cent LTV, where the average rate gained 3 basis points to 2.45 per cent and, at 75 per cent LTV, rose by 4 basis points to finish the week at 2.80 per cent.
Moneyfacts finance expert Eleanor Williams says: “Another week of varied updates in the mortgage sector; re-pricing activity continues with rate reductions by brands such as Principality Building Society, which cut some deals by up to 0.30 per cent, HSBC, which made reductions of up to 0.10 per cent on a selection of fixed rates, while Nationwide refreshed its range and included rate reductions of up to 0.25 per cent on first-time buyer deals in its update.
“TSB balanced rate increases and decreases of up to 0.10 per cent with the launch of new remortgage deals, while Halifax made a handful of rate increases, again of up to 0.10 per cent.
Both Kensington and Cumberland Building Society added 90 per cent LTV products to their ranges, and in further positive news, this week also saw both Accord Mortgages and Bank of Ireland UK for Intermediaries return 95 per cent LTV deals to the market.
“Available via intermediaries, hopefully this marks the start of a return in product choice for borrowers with limited levels of deposit.”
