Nationwide will raise selected residential fixed-rate offers by up to 25 basis points, while Santander will lift home and landlord loans by the same amount from tomorrow (30 April).
The mutual says its increases will affect prices across its new business, existing customer and moving home product ranges, as well as its switcher and additional borrowing offers.
Meanwhile, Santander says its changes cover:
New business
- Selected residential fixes will rise by between 4bps and 20bps for purchases and remortgages.
- All large loan fixes will rise by 10bps
- All buy-to-let fixes will rise by between 5bps and 25bps
Product transfers
- Selected residential fixed and tracker rates will rise by between 4bps and 20bps
- Selected BTL fixed rates will rise by between 5bps and 17bps
The lender adds that there will be no change to tracker rates in its new business range or BTL tracker rates in its product transfer range.
These rate rises follow price hikes from major lenders such as NatWest, HSBC, Barclays, and Virgin Money as money markets bet that the first Bank of England base rate cut may be pushed back into the second half of the year.
