Mortgage pricing is moving higher before the Bank of England’s latest rate decision. NatWest, TSB, Skipton, Coventry, Principality and other lenders have announced increases, while Family Building Society relaunched fixed rates at prices up by as much as 60 basis points after a temporary withdrawal. Buy-to-let lenders including Foundation, Aldermore and The Mortgage Works are also repricing or withdrawing products.
For advisers, the key message is that fixed-rate pricing is driven heavily by swap markets rather than the Bank Rate alone. With August CPI inflation rising to 3.1%, market expectations have become more volatile. Firms should prioritise pipeline reviews, confirm product deadlines with clients and avoid assuming that a rate hold would automatically improve mortgage pricing.
AI opportunity: use monitored rate alerts and workflow automation to identify clients with expiring offers, incomplete cases and imminent remortgage dates. Any automated communications should be checked by a qualified adviser and must not present generic AI output as personalised mortgage advice.