The average rate for a two-year fixed rate mortgage across all LTVs rose from 2.55 per cent to 2.58 per cent this week, says Moneyfacts.

Meanwhile, the average three-year fixe rate gained 1 basis point, rising to 2.67 per cent and the average five-year fixed rate rose 2 basis points, moving to 2.76 per cent.

The average 10-year fix stayed put during the week at 2.85 per cent.

Two-year fixes

There were two gains of significant note within this fix: at 85 per cent LTV the average rate grew from 3.04 per cent to 3.10 per cent and, at 65 per cent LTV, it moved from 2.36 per cent to 2.40 per cent.

Three-year fixes

At 70 per cent LTV the average rate rose considerably – from 3.33 per cent to 3.50 per cent, making for a 17 basis point difference.

The next biggest change occurred at 90 per cent LTV. Here, the average rate fell from 3.56 per cent to 3.52 per cent.

Five-year fixes

A 6 basis point rise form 3.16 per cent to 3.22 per cent at 85 per cent LTV was the most eye-catching change in the category this week.

And at 65 per cent LTV, the average rate climbed from 2.37 per cent to 2.40 per cent.

Moneyfacts finance expert Eleanor Williams says: “This week sees continued high levels of activity in the mortgage sector, particularly in the higher LTV tiers. Some notable updates included Metro Bank’s launch of new two-year fixed deals at 85 per cent LTV and its making significant reductions of 0.40 per cent on a couple products in this same tier.

“Amongst various changes, NatWest and RBS added deals for those looking to remortgage at 90 per cent LTV, and this week also saw specialist lender Kensington launch products across its various residential ranges, including the reintroduction of Help to Buy options.

“Lenders are continuing to adjust their ranges with updates not only to rates but criteria too, and so would-be borrowers would do well to secure the support and up to date knowledge of a qualified adviser to help explore the best choices for their circumstances.”