Clydesdale and HSBC join a second wave of fixed-rate rises as the average two-year fix reaches 5.9%

Clydesdale will raise two- and five-year fixed rates by up to 0.19% from 23 September, and HSBC has confirmed increases, after Barclays, Halifax and Santander repriced earlier this week. Rising swap rates are feeding straight into pricing: Moneyfacts puts the average two-year fix at 5.9% and the five-year at 5.92%, the highest since October 2023. For buyers, the same monthly budget now borrows less. This is lenders repricing, not a Bank Rate move; Bank Rate stays at 3.75%.