Weekly rate watch: Prices climb higher

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Average rate across all major fixes rose this week, according to data from Moneyfacts. 

The average rate for a two-year fix rose by 4 basis points to 3.85%, while the average rate for a three-year fix jumped by 21 basis points to 4.14%. 

Over longer terms, the average rate for a five-year fix climbed by 6 basis points to 4.00%, while the average rate for a 10-year fix edged higher by 1 basis point to 3.98%. 

Two-year fixes 

The largest gains at this level saw the 50% loan-to-value average rate jump by 29 basis points to 3.91%, while the 70% LTV average rate rose by 8 basis points to 4.01%.

The 95% LTV rate lifted by 5 basis points to 4.07% and the 90% LTV average rate was 4 basis points higher at 3.87%. 

Three-year fixes

The biggest rises at this level saw the 70% LTV average rate rocket by 130 basis points to 5.41% and the 60% LTV average jump by 41 basis points to 4.22%. 

However, the 95% LTV average rate fell by 2 basis points to 3.76%, although the 85% LTV average rate was 14 basis points higher at 4.16%. 

Five-year fixes

The biggest rises at this level saw the 70% LTV average rate jump by 15 basis points to 4.26%, while 85% LTV and the 60% LTV average both rose by 7 basis points to 4.05% and 3.75%, respectively.  

The 95% LTV rate lifted by 4 basis points to 4.06% and the 90% LTV average rate was 6 basis points higher at 3.93%. 

10-year fixes

The largest gains at this level saw the 75% LTV average rate and the 60% LTV average rate both lift by 2 basis points to 3.84% and 3.99%, respectively.

Most other rates at this level were unchanged, including the 95% LTV average rate at 4.89% and the 90% LTV average rate at 4.44%.

Moneyfacts finance expert Eleanor Williams says: “The level of choice for borrowers has contracted further this week, as the number of products offered in the residential mortgage sector has fallen again while providers continue to condense and focus their ranges. HSBC withdrew its fixed rates with end dates of 31 October 2025, while Platform and The Co-operative Bank both pulled swathes of fixed-rate products. 

We also recorded deals being withdrawn by some of the mutuals, including Newcastle Building Society and Nottingham Building Society, as well as Leeds Building Society and Principality Building Society.

Rate rises remain a dominant trend, with prominent brands such as TSB applying increases of up to 50 basis points across its fixed rates, HSBC making rate rises of up to 20 basis points across various of its fixed products.

“This week also saw Virgin Money increase selected deals by up to 13 basis points and we processed updates from the NatWest group which saw selected fixed deals increase by up to 10 basis points.

Other updates this week included more rate rises from various providers, including Progressive Building Society who made increases of up to 40 basis points across a number of offerings, Bank of Ireland UK fixed rates rose by 25 basis points, and digital mortgages from Atom Bank who put up ‘prime’ fixed rates by up to 20 basis points.

Nottingham Building Society made amendments to its range of retirement interest-only deals which included product refreshes, rate increases of as much as 87 basis points, as well as changes to the fees. Halifax also tweaked some products for those purchasing at 90% LTV or 95% LTV with £250 cashback added for ‘green’ properties.”

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