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Nationwide increases fixed rates in reaction to rising swap rates

Nationwide has increased the rates on a number of its fixed rate mortgage deals by 0.3 per cent in reaction to rising swap rates.

The lender has increased the rates on its two, three and five-year fixed rates for house purchases, remortgage and further advance customers by 0.3 per cent.

The Mortgage Works, a Nationwide subsidiary, has increased the rates on all of its fixed rate residential mortgages and guarantor mortgages by 0.3 per cent.

The changes take place from today.

A Nationwide spokesman says: “As with a lot of other lenders, we are not immune to the rising swap rate environment.”

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