Average two- and five-year fixed rate mortgage prices are on the brink of hitting 6%, according to the latest Moneyfacts rate watch.

The average two-year fixed rate has risen from 5.92% last Friday to 5.96% today, its highest point since late June 2024, while the average five-year fixed rate has increased from 5.94% to 5.98%, the highest point since late September 2023.

Moneyfacts finance expert Rachel Springall said: “Mortgage pricing remained volatile this week, with a number of lenders raising fixed rates while others made cuts, highlighting the uncertainty facing borrowers and brokers.

“The latest repricing comes as UK house price growth has also weakened, with Nationwide reporting annual growth of just 0.8% in September, down from 1.6% in August and the weakest rate since December 2025. The average UK house price is now £273,176, dropping to its lowest point since February 2026.”

A borrower taking out a £250,000 mortgage over 25 years would face repayments of around £1,605 a month based on the current average two-year fixed rate of 5.96%, Moneyfacts said.

That is £165 more each month than at the average rate of 4.85% at the start of February.

Fixed rate increases

• Aldermore – Fixed rate mortgages increased by up to 46bps.
• Bank of Ireland Intermediaries – Fixed rates increased by up to 10bps, with Bespoke rates up by 15bps.
• Bank of Ireland UK – Fixed rates increased by up to 10bps.
• Barclays Mortgage – Fixed rates increased by up to 30bps on 29 September, followed by further increases of up to 21bps on 2 October.
• first direct – Fixed rates increased by up to 36bps.
• Furness Building Society – Selected Heartland rates increased by up to 20bps.
• Gen H – Fixed rates at 60%-80% LTV increased by up to 15bps.
• Halifax – Selected fixed rates increased by up to 15bps.
• Kensington – Selected fixed rates increased by up to 15bps.
• Lloyds Bank – Selected fixed rates increased by up to 15bps.
• Melton Building Society – Fixed rates increased by up to 36bps, with selected Credit Repair rates up by 76bps.
• Nationwide Building Society – Selected fixed rates increased by up to 21bps.
• Newbury Building Society – Existing fixed rates increased by up to 40bps.
• Perenna – Fixed rates increased by up to 62bps.
• Principality Building Society – Selected fixed rates increased by up to 16bps.
• Progressive Building Society – Fixed rates increased by 50bps.
• Skipton Building Society – Selected fixed rates increased by up to 19bps.
• United Trust Bank – Fixed rates increased by up to 40bps.
• Virgin Money – Selected fixed rates increased by up to 16bps.

Fixed rate reductions

• Furness Building Society – Fixed rates reduced by up to 35bps.
• Leeds Building Society – Selected fixed rate mortgages reduced by up to 15bps.
• Principality Building Society – One fixed rate reduced by 5bps.
• Tipton & Coseley Building Society – Selected fixed rate mortgages reduced by up to 11bps.

Tracker and discounted variable rate changes

• Ecology Building Society – Eco Home discounted variable rate increased by 20bps.
• Loughborough Building Society – New two-year discounted variable rate launched at 5.90%, with a 1.99% discount.
• Nationwide Building Society – Selected variable tracker rate mortgages increased by up to 9bps.
• Newbury Building Society – Made to Measure discounted variable rate increased by 30bps, alongside new discounted variable rates.
• Progressive Building Society – Discounted variable rates increased by 50bps.
• Tipton & Coseley Building Society – Selected discounted rates reduced by up to 11bps.
• United Trust Bank – Variable tracker rate mortgages increased by 20bps.

Product launches, withdrawals and other changes

• Barclays Mortgage – Selected fixed rates withdrawn on 29 September.
• Bath Building Society – Two-year fixed rate of 5.29% withdrawn.
• Cambridge Building Society – New fixed rates launched from 5.99% for two years and 6.09% for five years.
• Furness Building Society – New two-year fixed rate launched at 5.54%.
• Halifax – Direct-business end dates extended.
• HSBC – End dates extended.
• Kensington – Selected fixed rates withdrawn and not replaced.
• Leeds Building Society – New fixed rates launched from 5.69%, plus new Reach fixed rates from 5.81%, both at 95% LTV.
• Lloyds Bank – End dates extended.
• Melton Building Society – Credit Repair end dates extended.
• Newbury Building Society – Existing rates repriced, end date extended and new fixed and discounted variable rates launched.
• Penrith Building Society – Fixed rate mortgage range withdrawn.
• Precise – Range withdrawn and relaunched with new one-, two- and five-year fixed rates.
• Progressive Building Society – Selected house purchase fixed rates withdrawn.
• Principality Building Society – End dates extended across the range.
• Tipton & Coseley Building Society – Selected rate end dates extended.