The wide-ranging increases across HSBC’s residential mortgage range are the result of higher swap rates.

Following the re-price, its lowest residential rate is now 3.77% for Premier account holders on a two-year fixed at 60% loan-to-value with a £999 fee.

But not all price movements have been upwards this week, as Aldermore has cut rates by up to 30 bps and Gen H has also lowered costs.

At Gen H, a reduction of 10 bps has been applied to its 85% and 90% LTV deals.

Following the cuts, a five-year fixed at 85% LTV with a £1,499 product fee now costs 5.7%.

At 90% LTV, its two-year fixed is 5.74% and five-year fixed is 5.75%, both of which also come with a £1,499 fee.

Aldermore has made substantial reductions to its near-prime residential rates at 85% LTV, where its two and five-year fixed rates have come down by 20 bps and now start from 5.69%.

At 80% LTV, its residential two-year rates for borrowers with historic arrears have come down by 15 bps to start from 5.29% and five-year deals by 10 bps to start from 5.14%.

Aldermore has also cut prices across its buy-to-let range including for houses in multiple occupation, but the biggest reductions are on five-year deals for landlords with single rental properties, where rates are down by 30 bps and now start from 6.09%.

For single properties, Aldermore has brought out a limited edition 75% LTV two-year fixed rate at 3.29% with a 5% fee.

An equivalent two-year limited edition deal for multi-property portfolios has been launched at 3.24%, with the same fee and LTV.

The latest weekly figures from Moneyfacts show that average mortgage rates have inch upwards in a number of categories.