Nationwide has lifted selected home loan fixed rates by up to 25 basis points, while Santander will raise prices across its new business and product transfer ranges by as much as 10bps.
The mutual says its rises, which come to market today, include the firm’s new business and existing customers moving home product ranges, in a note to brokers.
It adds that switcher and additional borrowing rates remain unchanged, without giving further details of its changes in the note.
Meanwhile, Santander says it will lift all standard home mover and first-time buyer, remortgage and large loan two- and five-year fixes by 10bps, from Tuesday.
The high street lender adds, also in a note to brokers, that most home mover and FTB new build two- and five-year fixes will increase by up to 10bps, although selected two- and five-year prices will reduce by as much as 4bps.
The lender’s new business buy-to-let range will see two- and five-year purchase and remortgage fixed rates rise by 10bps.
In its product transfer range, all residential two-, three-, five- and seven-year fixes and BTL two- and five-year fixes will rise by 10bps.
There are no changes to its tracker rates, the business adds.
On Wednesday, inflation jumped to 3.5% in the 12 months to April from 2.6%, which caused many economists to downgrade their forecasts of further Bank of England base rate cuts this year to one, from as many as three.
