Nationwide Building Society has increased the mortgage rates on its fixed-rate mortgage range.
The mortgage lender claims that money market swap rates have increased over recent weeks and that it is following in the footsteps of other mortgage lenders which have raised their mortgage rates accordingly.
"Nationwide's products are highly competitive for customers wishing to secure a short-term deal or those looking to fix their mortgage for longer," according to Steve Clode, the mortgage lender's divisional director of marketing .
Following the mortgage rate increase, which comes into effect tomorrow, the mortgage lender's two-year fixed-rate deal will have mortgage rates starting at 4.48 per cent. A mortgage fee of £599 applies to this mortgage deal.
Another two-year fixed-rate mortgage, which has a lower mortgage fee of £399, will come with a mortgage rate of 4.68 per cent.
The mortgage lender's fixed-rate mortgages over three, five and ten years also have a mortgage fee of £399 each and mortgage rates for these start at 4.73 per cent.
Overpayments and underpayments are allowed during the mortgage term, while both new and existing mortgage clients qualify for the deals.
Nationwide increases mortgage rates
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Nationwide increases mortgage rates
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