While rates are generally lower than they were last year, according to Rightmove, lenders still introduced a few increases this week.
Across the mortgage sector, the average two-year fixed rate came to 5.42%, compared to 5.47% at this period in 2023. A five-year equivalent is priced at 5.04% on average, down from 5.11% last year.
However, this could soon change ahead of the general election, as around 100,000 homeowners are set to see higher repayments up until votes are cast on 4 July.
We looked at the mortgage landscape to see what movements lenders have been making.
HSBC’S MINI HIKES
HSBC increased its rates for two-year fixed deals by 0.26% for 95% loan to value (LTV), up from 5.79% to 6.05%.

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For a 90% LTV, that also increases, rising to 5.49% from a previous 5.23%.
Other slight increases were made across its residential remortgage range on two-, three- and five-year fee-saver and standard products up to 90% LTV, as well as its five-year fixed premier exclusive.
Its buy-to-let (BTL) existing switching and borrowing more range also rose, with a two-year fixed fee-saver up to 75% LTV rising, along with standard products at 65% LTV.
VIRGIN MONEY MIXES RATES UP
Virgin Money has also made minor changes to its rates, with a mix of reductions and rises. One of the price increases was by 0.1% on its Fix and Switch purchase deals to stand at 5.34%.
At 90% LTV, the lender increased two-year fixed offerings with a £995 fee by 0.05% to start from 5.44%, while fee-free two-year fixes at 95% LTV rose by 0.1% to 5.94%.
Whereas, BTL deals with a 3% fee fell by a fraction (0.02%) and start from 4.03%. For a longer term, select five-year fixes for BTL borrowers with a 1% fee reduced by the same amount and now start from 4.67%.
TSB TAKES PRICES DOWN
TSB made a wave of bigger cuts to its rates, with some 0.25% deductions on two- and five-year fixes.
The provider also lowered product transfer rates by up to 0.15% on five-year fixes and by only 0.05% on three-year fixes. A two-year alternative saw rates rise by up to 0.1%.
While not huge, further reductions were still made on the BTL market, with product transfers going down by up to 0.05% on two-year fixes and 0.1% for the five-year alternative.
If you need another mortgage, its additional mortgage is reduced by up to 0.15% for residential borrowers and 0.1% for BTL borrowers.
Related: 100,000 households will see mortgage payment hike before election