Nationwide has increased rates across its two, three, five and 10-year fixed products up to 95% loan to value (LTV), effective 20 May. 

For first-time buyers, rates have increased by between 0.05% and 0.25%, while for those looking to move home, rates have risen between 0.02% and 0.20%. 

Remortgage rates have gone up by between 0.10% and 0.35%.  

Switcher and further advance rates have been increased by between 0.05% and 0.10%, while shared equity rates have risen by between 0.05% and 0.15%. 

Nationwide’s Green Additional Borrowing has also gone up by 0.20%. 

Commenting on the rate increases, a Nationwide spokesperson said: “The changes made to our new business range are reflective of the current interest rate environment, which has seen mortgage rates increase across the market.”

“As a member-owned organisation we are not immune to this, and we need to ensure our new business mortgage rates are sustainable, whilst also ensuring Nationwide remains well-positioned in the market.”