Nationwide and Virgin Money are increasing a range of mortgage rates from 16 July, with fixed-rate deals rising by as much as 35bps.

Nationwide said it will increase selected fixed and tracker rates by up to 35bps.

The increase will apply to products for first-time buyers, home movers, existing customers moving home and remortgage borrowers. Rates on switcher and additional borrowing products will remain unchanged.

Virgin Money is also raising mortgage pricing across its purchase and remortgage ranges.

For purchase loans, two-year and five-year fixed rates will increase by up to 35bps, while 10-year fixed rates will rise by 20bps. Shared ownership fixed rates will increase by up to 30bps.

For remortgage customers, Virgin Money will increase two-year and five-year fixed rates by up to 35bps, with 10-year fixed rates rising by 20bps.

The latest changes come as lenders including Barclays continue to adjust mortgage pricing in response to movements in funding costs and market expectations for interest rates.

John Charcol mortgage technical manager Nicholas Mendes said: “After the wave of cuts earlier this month, lenders are adjusting to a change in market conditions.

“The driver is funding costs. Swaps briefly dipped below 4% across the one-to-five-year range at the start of July, which fuelled the round of cuts borrowers enjoyed just a week ago, but events in the Middle East have pushed them back up, with two-year swaps now at 4.179% and five-year at 4.260%.

“Lenders price off swaps, so some repricing was to be expected, and it’s worth keeping perspective. Rates remain well below where they were during the spike earlier this year, and the market has shown throughout 2026 that when conditions settle, lenders are quick to pass falling costs back to borrowers.”