For first-time buyers, the lender has upped selected 85% LTV rates by 0.20%, while for new customers moving home and remortgages, rates have increased by 0.15%.

Switcher and additional borrowing rates on selected 2, 3 and 5-year fixed rates at 60% and 75% LTV have also increased by up to 0.20%.

Nationwide’s first-time buyer mortgages come with £500 cashback, while those looking to remortgage can choose between £500 cashback or free standard legal fees.

Henry Jordan, director of mortgages at Nationwide, said: “We regularly review the rates we offer across our mortgage range in line with market conditions.

“As swap rates continue to edge upwards, we have seen rates rise across the market.

“We know many borrowers prefer the payment certainty that a fixed rate deal offers and despite these increases, rates remain low in historic terms.”