Together has increased rates by up to 135 basis points on personal finance and commercial products.

On its personal finance offering, there will be an increase to fixed-rate and discounted first and second charge loans.

Rates will increase on first charge products by 40bps on two-year fixes and 10bps on five-year fixes, while discounted products will see rates rise by 20bps.

Second charge two-year fixes will see rates go up by 59bps and will increase by 135bps on smaller loans.

Five-year fixes have been increased by 30bps and 50bps on smaller loans while discounted rates have gone up by 59bps.

For commercial products, buy-to-let (BTL) first charge two- and five-year fixed term rates, second charge five year fixed rates and fixed homeowner business loans will increase.

Within the lender’s BTL first charge 2.5% acceptance fee range rates have risen by 25bps on two-year fixes and 50bps on five-year fixes.

Meanwhile, on its BTL second charge 2.5% acceptance fee range, five-year fixed rates have been increased by 25bps.

Together senior commercial product manager Matt Kelly says: “Following a sustained period of swap rate increases, led by market expectations that the Bank of England base rate will remain higher for longer and reaction to the recent Budget announcement, we have had to take the decision to adjust rates on a number of our products.”

“We remain committed to helping our customers achieve their property ambitions, and will continue to track the market to further adjust our products accordingly.”