26 UK lenders shift pricing in a week as Moneyfacts says the rate-cut run has stalled
Moneyfacts's latest weekly rate watch (week to 15 May) shows 26 lenders moved pricing — 10 cuts, 8 increases and 12 product refreshes — with the average two-year fix easing slightly while the five-year fix edged up to 5.70%. Swap-rate volatility is splitting the field: larger lenders like NatWest and Santander keep competing hard, while smaller mutuals pass increases through. For buyers, the broad-based cut run that ran through March and April has plainly stalled; sellers should not assume affordability is on its way back. The 20 May CPI print will set the next direction.
What this means for…
Buyers· 2/3
Sellers· 2/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 6/9.
More Rates commentary
23 Sept 2026 · Impact 5/9
NatWest cuts selected mortgage rates by up to 0.22 points, the first big lender to reverse September's hikes
22 Sept 2026 · Impact 7/9
Clydesdale and HSBC join a second wave of fixed-rate rises as the average two-year fix reaches 5.9%
18 Sept 2026 · Impact 7/9
Average five-year fix reaches 5.88%, the highest since October 2023, after a week of lender rate rises
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