Nationwide have increased their mortgage rates for the second consecutive week, this time by up to half a percentage point depending on the agreement.
The group say that with competition increasing rates, and sharp increases in the money market they had little choice but to ramp up their rates.
Mathew Carter from Nationwide commented, "We have seen continued large rises in money market rates together with further competitor activity and, as a result, it has been necessary to increase the rates on our range of mortgages."
He added, "While markets remain volatile, we can expect to see frequent changes to fixed-rate mortgages across the industry."