The Nationwide Building Society will raise prices for fixed rates for new businesses, switching products, additional loans and mortgages for those over 55.
Its fixed rates for two, three, five and ten years in its new line of business will increase by 0.2 to 0.3%. Tracker prices remain unchanged.
Two- and three-year fixed rates with fees of £999 will start at 5.89% and 5.84% for remortgage.
Five-year fixed rate contracts with a fee of £999 will start from 5.39% and 10-year fixed rates with a fee of £999 are from 5.09%.
The lender added that its range of standard mortgages was still available and no products were being discontinued.
Switcher products will increase by 0.2-0.99% and additional borrowing rates by 0.2-0.85%.
Additional green loans are expected to increase to 0.65%, while share pricing for existing members will increase to 0.3%.
More than 55 mortgages, which include retirement interest-only mortgages, life mortgages and retirement capital and interest mortgages, will rise about 0.2%.
Henry Jordan, Nationwide’s Head of Mortgages, said: “This week has seen continued swings in swap rates and they remain at extremely high levels as the market continues to react to the ever-changing economic environment and the factors for potential future increases in the Bank Rate.
“Given this broader picture and the continued changes in the market this week, we have had to make these changes to allow us to continue to offer a comprehensive standard range that supports all types of borrowers, while ensuring that our rates remain sustainable.”
Natwest “open for business”
A Natwest spokesperson said it was an “open business” and “continues to support new and existing customers and brokers.”
The spokesperson added that it has not withdrawn any product this week and that its full range remains available along with advice for customers who need help choosing the most suitable option.
“In addition to our fixed rates, which provide cost certainty, our range includes a follow-up product which offers the customer the option to switch to a fixed rate after 90 days with no prepayment charge,” they said.
The spokesperson continued that its pricing and service are “under continuous review” so that it can “support sustainable lending.”
“We are experiencing very high call volumes, so customers may experience longer wait times when making contact. Existing customers can manage their mortgage through our digital channels.
“Applications for all mortgage products will always be assessed on the basis of individual affordability and suitability,” the spokesperson concluded.
The TSB withdraws products
The TSB said that starting today it will temporarily scrap its two-year fixed and tracking products for first-time buyers, home buying and mortgage.
It will also remove five-year fixed products for first-time buyers and homebuyer products as well as affordable housing products.
Yesterday the company announced that it would be retiring the five-year fixed premium products for first-time home buyers and £995 home purchases, as well as the three- and five years in its residential range.
On the buy-to-let side, the TSB said it would scrap the two-year fixed home purchase and £995 remortgage fee proceeds.
The no-fee two-year fixed home purchase and re-mortgage products and the five-year fixed home purchase and re-mortgage products with a fee of £995 between 75 and 80% LTV have been removed.
Halifax Mortgage Rates Rise
Meanwhile, the Halifax has made changes to its mortgage products, which will take effect on Saturday October 1.
There will be rate increases of up to 0.82% on its two-year products and up to 0.55% on its five-year products.
Virgin Money releases products
Virgin Money is launching a range of mortgage products for new customers on Friday, September 30.
The new client product line will include basic two-, five- and 10-year fixed rate residential mortgages that will be available at up to 95% LTV from 5.29%.
Some condominiums, greener mortgages and fixed rates of purchase assistance will be offered starting at 5.24%.
Two- and five-year base and portfolio buy-to-let fixed rates will be available starting at 5.50%.
The bank also noted that its product transfer rates would also increase in line with our new client rates at 8 p.m. today.
Relaunch of Nottingham BS
At 3pm on Thursday, Nottingham BS relaunched its limited liability company, holiday rentals and buy-to-let products.
Its five-year fixed rate of 75 per LTV with fees of £1,499 is available at 5.95%.
Its five-year fixed rate of 75 per LTV, a limited company buy-to-let product with a product fee of £1,999, is available at 6.09%.
And, its five-year 75% fixed rate LTV vacation rental with product charge of £1,499 is priced at 6.05%.
It also withdrew its two-year 75% fixed buy-to-let product, which had a rate of 4.50%.
Earlier in the day, at 9 a.m., it had withdrawn its five-year fixed limited company buy-let and two-year fixed vacation rental products.