From 14 March, Halifax will raise all purchase and remortgage fixed rates, as well as all pricing on product transfers and further advances.
BM Solutions will increase all fixed rates on personal ownership buy-to-let (BTL) and let to buy deals, limited company BTL, and product transfer and further advance options on 14 March.
Further, Skipton Building Society said it would introduce higher rates across its mortgages from 14 March, while Allica Bank increased its semi-commercial and specialist BTL rates by 0.25% this morning.
Pepper Money announced it would increase rates across its entire range, so it would pull deals at 5pm on 16 March.
Additionally, rates will go up across all of Coventry Building Society’s residential, BTL and limited company BTL ranges for new and existing borrowers.
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This week alone has seen Nationwide, HSBC, Barclays, NatWest and others reprice mortgage rates as swaps fluctuate and cause doubts across the market.
Tom Bill, head of UK residential research at Knight Frank, said: “Energy market volatility has driven borrowing costs higher, which has forced mortgage lenders to reprice. How long the Middle East conflict lasts will determine the impact on the housing market and the fiscal choices in the Autumn Budget.
“Spare a thought for anyone sitting on a mortgage pricing committee this week.”
Bill added: “The job of setting loan terms must be challenging when the number of rate cuts on the horizon moves around so dramatically in such a short space of time.
“The reason is the rollercoaster ride on energy markets since the end of February as the Middle East conflict has unfolded.
“An expectation of rising inflation means the five-year SONIA swap rate closed at 3.9% on Monday, which compares to 3.5% before the conflict started and was the highest figure in almost a year.”
