Average fixed-rate mortgage prices were flat this week in a quieter market, according to the latest Moneyfacts rate watch.

The typical two-year fix is still unchanged at 5.97% this week, with the average five-year fix also flat at 6%.

Moneyfacts head of consumer finance Adam French said: “Eight lenders made increases, compared with five making cuts and three lenders making changes in both directions. While increases outnumbered reductions, there were some meaningful cuts and competitive new deals, particularly for new-build and higher loan-to-value  borrowers.

“Unchanged average mortgage rates and a relatively quiet week among the bigger lenders suggest the market is taking stock ahead of a likely base rate rise next week. Attention is likely to focus on what the Monetary Policy Committee’s comments signal about the future direction of rates.”

Notable changes this week

• Atom Bank – Selected fixed rates increased by up to 15bps.
• Bank of Ireland Intermediaries – Selected fixed rates reduced by up to 13bps, although bespoke three and five-year fixed rates increased by up to 10bps.
• Bank of Ireland UK – Selected fixed rates reduced by up to 14bps; new-build purchase products launched, including a 95% LTV option at 5.72% and an 85% LTV product with £300 cashback.
• Bath Building Society – Fixed rates increased by up to 40bps.
• Buckinghamshire Building Society – Two-year discounted variable rates increased by up to 30bps; selected retirement and later-life products withdrawn.
• Coventry Building Society – Selected fixed rates reduced by up to 26bps; eligibility restricted to first-time buyers on selected products.
• Gatehouse Bank – Selected fixed rates increased by 25bps.
• Kensington – Selected fixed rates increased by up to 30bps; dedicated Heroes and Professional mortgage introduced.
• Newcastle Building Society – Selected two-year tracker rates increased by up to 6bps, while a five-year tracker rate was reduced by 84bps; cashback increased from £200 to £250.
• Nottingham Building Society – Fixed rates increased by up to 12bps.
• Penrith Building Society – Two-year discounted variable rates for remortgage borrowers increased by up to 15bps.
• Pepper Money – Mixed fixed rate changes, with selected rates increasing by up to 91bps or reducing by up to 71bps.
• Principality Building Society – Selected fixed rates increased by up to 15bps.
• Progressive Building Society – New Venture mortgage range launched.
• TSB – Selected fixed rates reduced by up to 10bps.
• The Co-operative Bank for Intermediaries – Fixed rates reduced by up to 20bps.
• Yorkshire Building Society – Fixed rates reduced by 5bps.