David Hollingworth, associate director at L&C Mortgages, said: “Yesterday’s news of the increase in the rate of inflation meant that some of the lowest fixed mortgage rates on the market could be under threat.
“Although the movement in swap rates, which are a key indicator for fixed mortgage rates, has not been enormous, it does look to be enough to put some of the very lowest rates in peril.
“The constant shift in mortgage rates can be frustrating but the good news is that the longer-term expectation for Bank of England base rate is that it will continue downwards as the year progresses.
Some sub-4% mortgage deals will disappear from the market from Friday, when Santander UK pulls some products from sale just over a week after they launched, amid changing market conditions.
Nationwide Building Society said that, from Friday, it will reduce rates by up to 0.33 percentage points, with its rates now starting from 4.09%.
