Barclays said that from tomorrow most of its rates for purchase and remortgage will go up by 0.2%.
The move means that it will no longer be offering rates below 4% except for a five year fixed deal for purchase for buyers with a deposit of at least 40%. This rises from 3.76% to 3.96%.
However all its two year fixed deals are now back above 4% with its lowest priced product, for Barclays Premier bank customers only, rising from 3.87% to 4.07%.
Meanwhile Halifax, the country’s biggest mortgage lender, said rates on its two and five year remortgage products will go up between 0.11% and 0.24%, also from tomorrow.
The moves follow a sharp rise in gilt yields that are used to price fixed rate deals as the City started to …