The average 10 year fixed rate was the only mover this week, despite plenty of action within separate LTV brackets, rising from 2.89 per cent to 2.92 per cent.

The average two-year fix remained at 2.57 per cent, the average three-year fix at 2.67 per cent, and the average five-year fix at 2.75 per cent.

Two-year fixes

The re-introduction of 95 per cent LTV mortgages from some lenders over the last week led to that category’s average rate jumping from 3.99 per cent to 4.72 per cent.

Outside of this, the average 90 per cent LTV rate dropped from 3.50 per cent to 3.47 per cent and, at the other end of things, the average rate at 50 per cent LTV fell 3 basis points too – ending the week at 2.07 per cent.

Three-year fixes

As above, the average 95 per cent LTV rate increased significantly – by 100 per cent, in fact – from 0 to 3.99 per cent.

The only other change here was at 85 per cent LTV, which saw its average rate fall 1 basis point to 2.93 per cent.

Five-year fixes

The average rate at 95 per cent LTV grew 39 basis points, going from 3.86 per cent to 4.25 per cent.

The next-biggest change occurred at 50 per cent LTV, where the average rate increased from 2.49 per cent to 2.53 per cent.

10-year fixes

Despite the average rate across all LTVs rising, there was no significant enough change to register at 2 decimal places at any individual LTV bracket this week.

Moneyfacts finance expert Eleanor Williams says: “Another busy week in the residential mortgage sector, with a variety of updates coming through.

“A number of providers moved to reduce selected fixed rates, including Coventry Building Society with cuts of up to 0.20 per cent, and Virgin Money with reductions of up to 0.16 per cent.

“Leeds Building Society made a number of changes, including balancing a couple of rate reductions of up to 0.06 per cent, with rate increases of up to 0.30 per cent.

“Aldermore made some notable updates, reducing a handful of high LTV products by up to 0.40 per cent while also returning 95 per cent LTV purchase deals to its range, joining the ranks of those coming back to market to cater for borrowers with low levels of deposit.

“While changes are being made with such regularity, those who are considering a new mortgage deal might do well to secure the support and up to date knowledge of an independent advisor to keep abreast of all their options.”