Nationwide has upped the rates on a number of its five-year fixes by up to 20 basis points.

For first-time buyers, the biggest increase is the 80% LTV product with zero fee, which has seen its rate increase by 20 basis points to 2.09%.

The most significant change for new customer homemovers is the 75% LTV product with £1,499 fee, where a 15 basis point rise puts its rate at 1.44%.

And in the lender’s remortgage category, the 80% LTV fix has gone up by 15 basis points too, leaving it at 1.84%.

Additionally, rates on products aimed at existing customers moving home have gone up by 15 basis points, while prices for two-, three-, and five-year fixes for switcher and additional borrowers will see a 20 basis point rise.

Nationwide director of mortgages Henry Jordan says: “As swap rates continue to edge upwards, we have seen rates rise across the market.

“We know many borrowers prefer the payment certainty that a fixed rate deal offers and despite these increases, rates remain low in historic terms.”