It is reported that HSBC, NatWest and Virgin Money are increasing interest rates on loans.
More mortgage providers will increase their rates on new fixed deals on today (23 Feb) following a series of changes since the start of the year.
January saw lenders cutting their rates sharply, bringing some relief to 1.6 million people set to remortgage this year.
But higher costs faced by providers to fund mortgage lending means many have raised rates again in recent days.
HSBC, NatWest and Virgin Money are all increasing the cost of new deals.
This will mean the end of widely available five-year fixed deals with a rate of less than 4%. The average rate on all new fixed deals has been edging higher recently as lenders have altered their pricing.
About 1.6 million existing borrowers have relatively cheap fixed-rate deals expiring this year.
Santander, Coventry Building Society and TSB all raised rates on new fixed deals earlier in the week. However, there are signs of lenders failing to settle on where rates should be set. Halifax, part of Lloyds Banking Group, is cutting the rates on some of its deals on today (23 Feb).
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Source: BBC News
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