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Halifax hikes mortgage rates by up to 0.15% as experts warn borrowers face ‘stress’ of another rise

ended 02. October 2026

HALIFAX has hiked its mortgage rates by up to 0.15% today with experts warning borrowers could be hit with the “stress” of yet another rise.

The bank is increasing selected two-, three- and five-year fixed mortgage rates by up to 0.10%. The lender has also extended completion dates across the range, giving borrowers more time to complete their mortgage.

For customers considering a remortgage, selected two-, three- and five-year fixed-rate products will increase by up to 0.15%. As with the purchase range, completion dates have been extended across the product range.

It's been a week of mortgage rises, with Nationwide increasing selected fixed and tracker rates by up to 0.21%, while Virgin Money will raise some of its fixed rates by as much as 0.20%.

While Barclays’ increased its market-leading 4.75% two-year fixed mortgage to 5.05% and its 4.93% five-year fix to 5.03%.

Experts told Newspage the latest changes reflected continued volatility in the mortgage market.

Jamie Alexander, Mortgage Director at Romsey-based Alexander Southwell Mortgages, said the market has not done repricing.

He added: "Halifax raising rates again is not a surprise given where swap rates have been heading, but it is another reminder of how quickly the mood has shifted. A few weeks ago lenders were competing hard on price. 

"Now the same lenders are quietly pulling back. The numbers look small on paper but this is Halifax's sixth rate change since September. That frequency tells you more than the percentage does. 

“The market is repricing and it is not done yet. For anyone sitting on the fence waiting for rates to improve, the calculation has changed. Act now, review later if things settle. Waiting for a better number that may not come is not a strategy.”

Aaron Strutt, Product and Communications Director at London-based Trinity Financial, said: "Halifax is the latest in a long list of lenders to raise the cost of its mortgages over the last week. 

"The bank has been undercutting many of its competitors especially in the higher earning premier current account holder space as it has been offering a 4.81% two-year fix, three-year fix at 4.80% and a 4.86% five-year fix.

“The bank’s standard lending range has two-year fixes starting from 5.01% and the five-year fix is 5.06%. These rates are now pulled. It seems like Halifax will still have a couple of sub-5% fixes after these latest rate hikes but they will not be available to most of its customers. 

"This is Halifax’s sixth rate change since the 1st September which is a lot and not something that we are used to seeing. This scale of rate changes is causing a lot of stress and highlights the volatility in the money markets at the moment. We literally have a few sub-5% rates left and I doubt they will be around much longer."

Stephen Perkins, Mortgage Broker and Managing Director at Norwich-based Yellow Brick Mortgages, said the latest rate increases would affect existing borrowers as well as those taking out new mortgages, making it important for homeowners to review their options.

He revealed:  "What stands out here is that Halifax isn't just increasing rates for new borrowers. Product transfer and further advance rates are rising too, so existing customers reaching the end of a deal aren't insulated from the wider repricing.

“An increase of 0.10% or 0.15% may not look dramatic on its own, but when several major lenders move in the same direction over a short period, the cumulative effect matters. Borrowers approaching the end of a fixed rate should compare the wider market rather than assume staying with their existing lender will automatically be the easiest or cheapest option.”

Some experts believe Halifax’s latest rate increases will add further pressure for borrowers.

Ranald Mitchell, Director at Norwich-based Charwin Mortgages, said: “Halifax is the latest major lender to turn the screw. These may look like small increases, but they are heading firmly in the wrong direction and they add up quickly on bigger mortgages. For home movers and first-time buyers already battling affordability, higher fixed rates are the last thing they need. The message is simple: if you are planning to buy or move, do not assume waiting will make things cheaper.”

Meanwhile, experts believe the latest increase was part of a broader wave of mortgage rate changes, with market conditions continuing to put pressure on fixed-rate deals.

Tracey Dixon, Buy-to-Let Mortgage Specialist & Owner at Cardiff-based Pure Mortgage and Protection, said borrowers should review their options early as rising rates could make delaying a mortgage decision more costly:

She revealed: "Waiting for a cheaper mortgage can become an expensive gamble. Halifax’s increases are another reminder that fixed rates don’t simply follow the Bank of England base rate. For borrowers already stretching their budgets, even a modest rise is unwelcome.

"The increases also affect existing customers switching deals, so staying with your current lender shouldn’t automatically be assumed to offer the best value. Comparing the rate, fees and overall cost remains essential. 

“If your deal ends in the next three to six months, start reviewing your options early. Securing a suitable deal ahead of time can provide certainty, while your broker can check whether a better option becomes available before completion, subject to the lender’s rules.”

Borrowers could face further rate rises, with the upcoming Budget and possible changes to the Bank of England base rate, according to one expert.

Elliott Culley, Director at Hayling Island-based Switch Mortgage Finance, said “Rates continue to trickle upwards as the uncertainty of the markets continue. A base rate increase in November is looking extremely likely as more bills are set to increase. The October budget will be the next big event and will have a significant impact on where rates could be headed moving into Q4 and 2027.”

ENDS

Here are the original questions we put to Newspage's experts:

Halifax Intermediaries
product changes – Friday 2 October 2026 

Homemover and First time buyer   

•Selected rate increases of up to 0.10% on 2,3 and 5 year fixed products.•Complete by dates extended across the range.

Remortgage   

•Selected rate increases of up to 0.15% on 2,3 and 5 year fixed products.•Complete by dates extended across the range.

Product Transfer and further advance 

•Selected rate increases of up to 0.15% on 2,3 and 5 year fixed products.•Complete by dates extended across the range.

8 responses from the Newspage community

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Pro
Aaron StruttVerified
Product and Communications Director at Trinity Financial
Halifax is the latest in a long list of lenders to raise the cost of its mortgages over the last week. The bank has been undercutting many of its competitors especially in the higher earning premier current account holder space as it has been offering a 4.81% two-year fix, three-year fix at 4.80% and a 4.86% five-year fix. The bank’s standard lending range has two-year fixes starting from 5.01% and the five-year fix is 5.06%. These rates are being pulled tonight.
It seems like Halifax will still have a couple of sub-5% fixes after these latest rate hikes but they will not be available to most of its customers. This is Halifax’s sixth rate change since the 1st September which is a lot and not something that we are used to seeing. This scale of rate changes is causing a lot of stress and highlights the volatility in the money markets at the moment.
We literally have a few sub-5% rates left and I doubt they will be around much longer.
Copy

Pro
Stephen PerkinsVerified
Norwich Mortgage Broker and Managing Director at Yellow Brick Mortgages
What stands out here is that Halifax isn't just increasing rates for new borrowers. Product transfer and further advance rates are rising too, so existing customers reaching the end of a deal aren't insulated from the wider repricing.

An increase of 0.10% or 0.15% may not look dramatic on its own, but when several major lenders move in the same direction over a short period, the cumulative effect matters. Borrowers approaching the end of a fixed rate should compare the wider market rather than assume staying with their existing lender will automatically be the easiest or cheapest option.
Copy

Pro
Ranald MitchellVerified
Director at Charwin Mortgages
Halifax is the latest major lender to turn the screw. These may look like small increases, but they are heading firmly in the wrong direction and they add up quickly on bigger mortgages. For home movers and first-time buyers already battling affordability, higher fixed rates are the last thing they need. The message is simple: if you are planning to buy or move, do not assume waiting will make things cheaper.
Copy

Pro
Justin MoyVerified
Managing Director at EHF Mortgages
The latest increase within the latest wave of change in the mortgage market, in a similar fashion to Barclays, who have announced similar increases today.

With the bond market showing rates at their highest for decades, we have little to suggest there is any improvement on the horizon. Sub-5% fixed deals are long gone, and will take time to come back, even if there is a sudden improvement in the Middle East or with inflation. In the meantime, the UK walks with a dark cloud above, and no sign of sunshine coming anytime soon.
Copy

Pro
Tracey DixonVerified
Buy-to-Let Mortgage Specialist & Owner at Pure Mortgage and Protection
Waiting for a cheaper mortgage can become an expensive gamble. Halifax’s increases are another reminder that fixed rates don’t simply follow the Bank of England base rate. For borrowers already stretching their budgets, even a modest rise is unwelcome.

The increases also affect existing customers switching deals, so staying with your current lender shouldn’t automatically be assumed to offer the best value. Comparing the rate, fees and overall cost remains essential.

If your deal ends in the next three to six months, start reviewing your options early. Securing a suitable deal ahead of time can provide certainty, while your broker can check whether a better option becomes available before completion, subject to the lender’s rules.
Copy

Pro
Nouran MoustafaVerified
Practice Principal & IFA at Roxton Wealth
When Halifax starts pushing rates higher across purchases, remortgages and existing customers at the same time, borrowers should pay attention.

Increases of 0.10% or 0.15% do not sound dramatic, but mortgage pricing is moving in the wrong direction lender by lender, and those small increases compound quickly on large balances.

The most important message for borrowers is not to panic, but equally not to assume waiting automatically means getting a better deal. Wholesale funding costs can move long before Bank Rate does, and fixed mortgage rates react accordingly.

Anyone approaching a purchase or remortgage should get a rate secured early and keep reviewing the market afterwards.

You can always reconsider if pricing improves before completion. You cannot go back and reserve a deal that disappeared yesterday.

Right now, procrastination has a price.
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Platinum
Elliott CulleyVerified
Director at Switch Mortgage Finance
Rates continue to trickle upwards as the uncertainty of the markets continue. A base rate increase in November is looking extremely likely as more bills are set to increase. The october budget will be the next big event and will have a significant impact on where rates could be headed moving into Q4 and 2027.
Copy

Plus
Jamie AlexanderVerified
Mortgage Director at Alexander Southwell Mortgages
Halifax raising rates again is not a surprise given where swap rates have been heading, but it is another reminder of how quickly the mood has shifted. A few weeks ago lenders were competing hard on price. Now the same lenders are quietly pulling back.

The numbers look small on paper but this is Halifax's sixth rate change since September. That frequency tells you more than the percentage does. The market is repricing and it is not done yet.

For anyone sitting on the fence waiting for rates to improve, the calculation has changed. Act now, review later if things settle. Waiting for a better number that may not come is not a strategy.