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Halifax latest lender to reprice upwards

ended 09. March 2026

Halifax, the “barometer” of the high street according to one broker, is increasing rates across all its 2-, 3- and 5-year fixed and tracker purchase and remortgage products from tomorrow, Tuesday 10 March. Additionally, there will be rate increases on selected products across the lender's Product Transfer and Further Advance ranges. Meanwhile, other lenders such as Saffron are temporarily withdrawing all fixed rate new business rates across selected buy-to-let and residential loans, Principality Building Society has also hiked while Fleet Mortgages has announced that, “due to continued market volatility, we are temporarily withdrawing all fixed rate products from 5pm tonight". We know why rates are going up, but exactly how high could they go based on the events of the past week and how will this impact demand for property? With lenders now withdrawing products, is this starting to feel less like a blip and more like the beginning of a more fundamental repricing upwards? What's your advice to borrowers?

 

7 responses from the Newspage community

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Louis MasonVerified
Content and Communications Director at Oportfolio Mortgages
Halifax tends to set the tone for the wider market, so when it moves, others often follow. What we’re seeing now isn’t just a knee-jerk reaction but lenders rapidly repricing to keep pace with swap rate volatility over the past week. That doesn’t necessarily mean rates will spiral, but it does suggest we could see short-term pricing continue to edge upwards until markets settle.

For borrowers, the key message is speed and flexibility. If you’re in the market, securing a rate quickly can provide valuable protection because most offers can be revised down if pricing improves, but not up once locked in.
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Riz MalikVerified
Independent Financial Adviser at R3 Wealth
Lenders are panicking as markets are moving at an alarming pace. The spike in oil has spooked the markets, and gilt rates have soared. It's like 2022 all over again. I pray this is short-lived; otherwise, housing and households will suffer significantly.
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Harps GarchaVerified
Director at Brooklyns Financial
We’ve woken up to a market where lenders are withdrawing mortgage rates and returning with higher pricing, while some are stepping back entirely until market conditions stabilise. It’s not a time for panic, but borrowers should consider securing a rate sooner rather than later. The key reassurance is that if rates do fall before completion, most lenders will allow borrowers to switch to the lower rate
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David StirlingVerified
Independent Financial Adviser at Mint Wealth
Now is the time to act and lock in a rate if possible. With the polycrises in the world unfolding, the lenders are pulling up the drawbridge and withdrawing rates, offering less competition for borrowers. Halifax is a behemoth of a lender and this signals the start of a period of turbulence in the money markets. The pressure in the barometer is rising quickly.
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Darryl DhofferVerified
Founder at The Mortgage Geezer
As conflict in the Middle East brings global shipping to a standstill, the ripples are reaching British shores in an unexpected way. While tankers and container ships remain at a cautious halt in the Strait of Hormuz, the UK’s leading "lender ship," Halifax, is making a definitive move.

Driven by rising inflation and a spike in swap rates, mortgage rates are officially on the rise. Halifax, alongside major peers like HSBC and Nationwide, has begun hiking fixed-rate deals.

The era of falling rates has hit a sudden sandbank. With energy prices climbing, securing a deal now may be the only way to stay afloat before the tide goes out further.
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Dariusz KarpowiczVerified
Director at Albion Financial Advice
The UK's largest residential lender joining the repricing wave is not a drill. When Halifax moves, the rest of the market tends to follow, and several already have. Swap rates spiked sharply this past week, and lenders are adjusting faster than most borrowers realise.
If you are purchasing or remortgaging, secure a rate now. Most lenders will let you switch to a lower rate before completion if pricing improves. But they will not let you revise upwards once you have locked in, so waiting costs you options, not saves them.
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Jamie AlexanderVerified
Mortgage Director at Alexander Southwell Mortgages
Halifax increasing rates is a clear signal that the calm we saw in mortgage pricing may be fading. Swap rates have moved higher in recent days, and lenders are reacting quickly to protect margins. When a major lender like Halifax reprices, the rest of the market often follows but in this case, it seems like Halifax have been slower to react.

For borrowers, it’s a reminder that mortgage rates can change quickly when financial markets become unsettled. Anyone considering a purchase or remortgage may want to secure a rate sooner rather than later, as most lenders will still allow a switch to a cheaper deal if pricing improves before completion.