From tomorrow, Friday 2 February, Nationwide is set to increase selected mortgage rates by up to 0.30%.
This includes some rates across its new business, additional borrowing and existing customers moving home product ranges.
The building society also informed brokers that there will be no changes to switcher rates as part of this change.
For brokers wishing to avail of existing products, these must be reserved by 8pm today, Thursday 1 February.
Nicholas Mendes, head of marketing at John Charcol, said: “Nationwide is the latest high street lender to reverse its recent trend in downward repricing.
“While markets had been pricing in a bank rate reduction at the start of the year, unfortunately in recent weeks that continued to look unlikely, feeding into an increase in swaps.
“As a result, lenders have been delaying any rate increases for as long as possible or at least until they have utilised their allocation of funds.
“For those coming to the end of their fixed rate this year, begin the remortgaging process well before your fixed rate expires to ensure you have ample time to explore options and secure a better rate.
“You can secure a remortgage up to six months prior to your fixed rate ending.”
He added: “Securing a new rate early can be particularly useful as it means that if rates were to increase further, you would have secured a lower rate already, and if they reduced in the six months before your fixed rate ends you would always have the option of switching to a new deal with the existing lender or even starting the process again with a different lender.
“This means you get the best outcome either way.”
