Barclays will raise the prices of many residential and buy-to-let mortgages as it seeks to pass on increases to its cost of funding.
The lender says it will make the changes tomorrow on its residential, buy-to-let and Reward ranges.
A Barclays statement says: “The cost of funds have steadily increased over recent weeks and as a result, we have seen a number of our competitors increase their rates.”
Yesterday NatWest announced a similar move, increasing rates on selected fixed-rate deals across its core, semi-exclusive and buy-to-let mortgage ranges.
Lenders have been adapting to the end of two Government schemes that ensured a supply of cheap funding.
The Funding for Lending Scheme, introduced during the 2012 credit crunch, came to an end on 31 January.
The Bank of England closed its £140bn Term Funding Scheme on 28 February.
