Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Fixed-Rate Mortgage Prices Rise Again, Says Moneyfacts

The average new fixed-rate mortgage price rose to 5.59% this week, according to the latest Moneyfacts rate watch. This marks an increase from 5.55% last week.

Moneyfacts reported that the average new five-year fixed mortgage rate at 95% loan-to-value (LTV) climbed to 6.07%, up from 5.61% the previous week. The largest increase was seen in three-year fixes at 65% LTV, which rose by 29 basis points to 5.19%. Three-year fixes at 95% LTV also saw a notable rise, increasing by 13 basis points to 5.95%.

Lender Rate Changes

Several lenders adjusted their fixed and tracker mortgage rates this week. AIB (NI) increased fixed rates by up to 33 basis points, while Atom Bank raised prime fixed rates by up to 25 basis points and near prime fixed rates by 10 basis points. Bank of Ireland Intermediaries increased fixed rates by up to 30 basis points, and Bank of Ireland UK raised selected fixed rates by up to 15 basis points.

Barclays increased selected fixed rates by up to 14 basis points and tracker rates by up to 11 basis points. Bath Building Society raised five-year fixed rates by 15 basis points and discounted variable rates by 20 basis points. Coventry Building Society, Darlington Building Society, HSBC, Halifax, Leeds Building Society, Lloyds Bank, Mansfield Building Society, Newcastle Building Society, Penrith Building Society, Precise, Principality Building Society, Santander, TSB, Vida Homeloans, and Yorkshire Building Society also reported increases in selected fixed rates, ranging from 7 to 45 basis points.

Some lenders, including Bluestone Mortgages, Buckinghamshire Building Society, Dudley Building Society, and The Mortgage Lender, reduced selected fixed or variable rates by up to 40 basis points.

Relevance for Letting Agents and Inventory Clerks

These changes in mortgage rates may impact affordability for prospective buyers and landlords, potentially influencing demand in the rental market and property transactions.