Major lenders have increased a selection of mortgage rates in recent days, despite the recent drop in the Bank of England base rate.

HSBC, Nationwide Building Society, Santander, TSB and Virgin Money are among those to have reviewed their offerings.

Nationwide said some new rates will apply to mortgage applications this week. Among the changes, it is increasing selected two-, three- and five-year fixed- rate deals by up to 0.2%. Nationwide said the new rates are reflective of the current swap rate environment and increase in mortgage rates seen across the market in recent weeks.

Nationwide is also reducing rates on 10-year fixed-rate products by up to 0.11% as well as selected higher loan-to-value two-year fixed-rate products by up to 0.15%, to further improve its competitive position in those markets.

A Nationwide spokesman said: “Nationwide is not immune to the current swap rate environment and the changes we’re making on our fixed-rate range are reflective of that and the rate changes happening across the market. Our tracker rates are seeing a reduction to reflect last week’s bank rate decision. We continue to support existing customers with our pricing pledge and remain competitive and well-positioned in the market to support all borrowers.”