From This is Money:
Mortgage brokers have warned that time is running out for those wanting to find a good value fixed rate.
The average two-year fixed rate has jumped from 4.74% to 4.9% since the beginning of last week, according to research by independent data compiler Moneyfacts. The average five-year deal has risen from 5.61% to 5.82%.
Nationwide Building Society increased its fixed rates by up to half a percentage point on Tuesday. It had already raised the cost of its fixed-rate range on June 12.
Nationwide’s three-year fixed rate for mortgages representing up to 75% of the value of a home has risen from 4.54% to 4.98%, for example. Before the June 12 increases, the rate was 4.28%.
Woolwich, owned by Barclays, has raised some two-year fixed rates by as much as 0.7 of a percentage point, while five-year rates have increased by half a point.
The increases follow similar rises earlier this month by Coventry Building Society, Britannia Building Society, First Direct, Halifax and Royal Bank of…
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