Nationwide has announced rate changes across some two-, three-, five- and 10-year fixed rate products, effective from tomorrow (5 September).

For new and existing customers moving home, up to 95% loan-to-value (LTV) two-, three-, five- and 10-year fixed rates will increase by between 0.03% and 0.20%.

Rates will now start from 3.87% on two-year products, 3.99% on three-year products, 3.99% on five-year products and 4.45% on 10-year products.

In addition, prices for first-time buyer products up to 95% LTV  on two-, three-, five- and 10-year fixed rates will go up by between 0.0% and 0.17%.

The cheapest rate will be 4.03% on two-year deals, 4.14% on three-year deals, 4.22% on five-year deals and 4.45% on 10-year deals.

On remortgage products up to 90% LTV two- and five-year fixes will go up between 0.04% and 0.07% with rates starting at 3.94% on two-year deals and 3.99% on five-year deals.

In the same range, two-, three-, five- and 10-year fixes will also be increased by between 0.05% and 0.10%.

Starting rates for two-year deals will be 3.89%, for five-year products it will be 3.94%, three-year deals it will be 3.99% and 10-year rates will start at 4.49%

A Nationwide spokesperson says: “We continually review our mortgage rates and, with swap rates trending up recently, we have had to make changes to reflect the current environment.”

“We continue to support existing customers with our pricing pledge and remain well-positioned in the market to support all borrowers, including first-time buyers.”

Also commenting on the changes, Trinity Financial product and communications director Aaron Strutt states: “We have been expecting some of the lenders to put up their prices particularly with recent swap rate increases and the market uncertainty.”

“Nationwide has some of the cheapest fixed rates and its two year fix is going up from 3.74% to 3.87%. Not a huge rise just but enough to bump up monthly repayments.”