Rates on the rise across a range of fixes, Moneyfacts finds

The average rate for a two-year fix edged up by a single basis point, to 2.86%, following the Bank’s 25 basis points to 0.75% in March.

The average for three-year fixes lifted by 3 basis points to 2.90%, while 10-year rose by 2 basis points to 2.94%.

Only five-year fixes were unchanged at 3.01%.

Two-year fixes

At the key 95% loan to value offer, average actually eased by a single basis point to 3.19%, and fell by the same amount at 90% LTV to 2.94%, though lifted by 3 basis points to 3.01% at 65% LTV.

Three-year fixes

Again, at the key 95% LTV level fixes fell by 4 basis points to 3.26%, but lifted by 3 basis points to 3.00% at 90% LTV. Rates jumped by 8 basis points to 2.86% at 70% LTV.

Five-year fixes

As the headline rate suggests, t. was little significant movement in this . Fixes at 90% LTV fell by a single basis point to 3.11%, but a 70% LTV lifted by 3 basis points to 3.02%, and rose by the same amount at 60% LTV to 2.46%

10-year fixes

In this range, only 75% LTV fixes lifted by 2 basis points to 2.74% and 60 LTV rates edged higher by a single basis point to 2.61%. All other lending value ratios remained unchanged.

Moneyfacts finance expert Eleanor Williams says: “A week of slightly less intense activity in the residential sector overall, albeit with a flurry of first of month updates coming through this morning.

“Standard variable and revert rate amendments have continued to come in thick and fast, with increases this week from providers such as Yorkshire Bank, Hodge and Paragon Bank, as well as from a number of the mutuals including Furness Building Society, Bath Building Society and Vernon Building Society.

Bucking the recent trend of rising rates this week was Barclays Mortgage who cut selected fixed products and a two-year tracker deal by up to 0.21%, as well as launching a new five-year tracker product for remortgage borrowers.

Accord Mortgages balanced small increases of 0.05% on a handful of its two-year fixed products with reductions of up to 0.17% on a selection of its five-year fixed rate offerings.

“Pepper Money revamped its range and – dependent on criteria – applied increases of between 0.10% to 0.85% to various fixed rates, while also making notable cuts of up to 1.10% on specific variable rate products.

HSBC increased its fixed-rate offerings by up to 0.30%, with the exception of its 95% LTV options which were unchanged, and some further good news for those with smaller levels of deposit or equity this week came from Nationwide Building Society who slashed up to 0.35% from its two- and three-year fixed rate deals at 95% loan-to-value.

“However, by contrast, Digital Mortgages by Atom Bank increased its Prime fixed rates in the top 95% LTV tier by 0.10%.

Others to put rates up this week included Lloyds Bank who put up some of its remortgage borrower fixed rates by up to 0.37%. Skipton Building Society increased various products by up to 0.40%, as did Virgin Money who made selected rate increases of up to 0.40% and also withdrew 85% and 90% LTV intermediary only products.”

source