Santander and NatWest may have cut rates on short-term mortgages this week but the long-term trend now points towards more expensive finance.
Both lenders have followed a string of other lenders by also hiking rates on their five-year fixes.
NatWest Intermediary Solutions has reduced the rate on its no product fee' two-year fixed rate by 0.10% from 3.75% to 3.65%.
The deal is available to 85% LTV for both purchases and remortgages.
But it has also increased the rates on a couple of its five-year fixes to 60% LTV.
Its five-year fixed rate to 60% LTV rises from 2.88% to 2.95%, with a £995 product fee
And its five-year fix with no fee rises from 3.19% to 3.25%.
Santander for Intermediaries has cut the rate of its Flexible Offset mortgage by 0.5% to 3.09%, with a £495 fee.
The deal is a guaranteed tracker for life that allows borrowers to offset their savings against their mortgage balance.
Customers are also free to overpay or take a payment holiday, or pay off the mortgage balance without incurring an early redemption charge.
Santander has also hiked rates on a number of its five-year fixes. Its five-year fix to 70% LTV is now 3.09%, rising to 3.29% to 75% LTV and 3.79% to 80% LTV. All three deals have a £995 fee.
It has also increased its three-year fixes by 0.10%.
Other lenders have also increased their long-term rates, notably Barclays, which hiked some of its five-year fixes at the end of January.
Yorkshire, Norwich & Peterborough and Chelsea building societies have also raised rates on longer-term deals.
The message to borrowers is to fix now, before long-term rates get even more expensive.
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