Average fixed mortgage rates crept closer to 6% this week as lender repricing continued, according to the latest Moneyfacts Rate Watch.

The typical two-year fix is now 5.92%, its highest level in over two years and up from 5.84% last week. Meanwhile the average five-year fixed rate now costs 5.94%, compared to last week’s 5.88%.

Moneyfacts personal finance analyst Caitlyn Eastell said: “Over the past week average mortgage rates have continued to rise, albeit at a slightly gentler pace compared to last week’s mayhem.

“Lenders have been making mixed changes, with a handful of reductions hidden among the increases and most seem to have caught up with the sharp swap rate rises but with a sensitive market it’s still prone to any sudden shocks.

“The scale of repricing in recent months has been a constant strain for borrowers and even the cheapest two-year deals have climbed by over one percent. With inflation forecasted to hit 4.1% during Q1 of 2027, the Bank of England may face increasing pressure to increase interest rates.  While lenders have already priced this hike in, there’s also the possibility that a base rate hike could lead them to re-evaluate their mortgage pricing.”

Fixed rate changes

• AIB (NI) – Fixed rate mortgages to 2028 increased by up to 48bps
• Barclays Mortgage – Selected fixed rates for remortgages increased by up to 25bps. Fixed rate of 5.12% increased by 30bps. Springboard fixed rate reduced by 1bps.
• Beverley Building Society – Selected fixed rate mortgages increased by up to 20bps
• Darlington Building Society – Selected fixed rate mortgages increased by up to 20bps
• Foundation – Fixed rate mortgages increased by up to 45bps (except 7.49% & 7.59% for five-years which remain unchanged
• Gen H – Selected fixed rate mortgages reduced by 10bps
• Halifax – Selected fixed rate mortgages increased by 11bps. Fixed rate mortgages of 5.73% & 5.64% to 2036 reduced by 1bps
• Hodge – Fixed rate mortgages increased by 57bps
• HSBC – fixed rate changes by up to 33bps
• Leeds Building Society – fixed rate mortgages increased by up to 20bps
• Lloyds Bank – Selected fixed rate mortgages increased by up to 11bps. Selected fixed rate mortgages to 30.11.36 reduced by 1bps
• NatWest – Selected fixed rates reduced by up to 22bps
• NatWest Int Sols – Selected fixed rate mortgages reduced by up to 22bps
• Nottingham Building Society – Fixed rate mortgages increased by up to 34bps
• Principality Building Society – Fixed rate mortgages increased by 10bps
• Progressive Building Society – Selected fixed rate mortgages increased by up to 41bps
• Royal Bank of Scotland – Selected fixed rates reduced by up to 22bps.
• Saffron Building Society – Selected fixed rates increased by up to 30bps
• Santander – Selected fixed rates reduced by 4-16bps
• Scottish Building Society – RIO fixed rates increased by 25-30bps
• Skipton Building Society – Fixed rate mortgages reduced by up to 29bps
• West Brom Building Society – New build fixed rate mortgages increased by up to 50bps

Tracker and variable rate changes

• Beverley Building Society – Remortgage discounted variable rates of 4.64% for two years increased by 20bps
• Chorley Building Society – Selected discounted variable rates reduced by 4bps or increased by up to 37bps
• Hanley Economic Building Society – RIO, interest-only and large-loan discounted variable rates increased by 19-47bps
• Leeds Building Society – Variable tracker rates increased by 10bps
• Mansfield Building Society – Discounted variable rate mortgages increased by 20bps
• Principality Building Society – Variable tracker rates increased by up to 15bps

Product launches, withdrawals and other changes

• Barclays Mortgage – Two -year offset tracker withdrawn. Selected fixed rates withdrawn
• Chorley Building Society – New own fixed rates launched at 4.96% and 6.01% up to 95% LTV. Selected later life and credit renew variable rates withdrawn
• Foundation – New F1 fixed rates launched from 6.49% for two years and 6.89% for five years
• Gable Mortgages – New lender to Moneyfacts. Five-year fixed rates launched at 6.60% up to 100% LTV and 6.40% new-build rate up to 100% LTV
• Hinckley & Rugby Building Society – New Credit Assist and Credit Renew fixed-rate ranges launched
• Marsden Building Society – New 5.99% fixed rate launched up to 80% LTV; new lending-into-retirement, later-life and RIO fixed rates introduced from 5.85%
• Mansfield Building Society – New two-year fixes launched at 5.99% up to 80% LTV and 6.39% up to 90% LTV, plus a 6.75%s house-purchase-only product up to 95% LTV.
• NatWest – Fixed-rate end dates extended by one month.
• NatWest Intermediary Solutions – Fixed-rate end dates extended by one month.
• Newcastle Building Society – New fixed rates launched from 5.80%, alongside new tracker products from 4.50%.
• Nottingham Building Society – Fixed-rate end dates extended by one month; Make It Possible fixed rates withdrawn.
• Royal Bank of Scotland – Fixed-rate end dates extended by one month.
• Saffron Building Society – New two- and five-year fixed rates launched, including a 95% LTV FTB product and dedicated self-employed rates from 6.17%.
• Santander – Several FTB, STB and new-build fixed rates withdrawn; new and existing products repriced.
• Skipton Building Society – End dates across the range extended by one month; new LTI Booster fixed rates launched at 5.67% and 5.77%, up to 90% LTV