Mortgage lenders Abbey have increased the interest rates on their fixed rate products by over half a per cent, blaming market conditions for the rise.
The group are said to have modified their rates at least five times in the last month as the property market continues to strugglie during the credit crunch.
A spokesperson for Abbey commented, "As a result of our strong position in the market, we were able to reduce fixed rates last week, but the market changes have required us to pass on these increases."