After base rate increases, Banks increase their mortgage rates

For example, First Direct (member of the HSBC group) announced a rise in its variable rate from 6% to 6.25%. Furthermore, the fixed rate mortage rates also increased with, for example, a 3 year fixed rate mortage going for 5.59% (reverting to the standard variable rate of 6.25% after the 3 year period).

There are still some cheap discounted mortgages available but it is likely that these will be withdrawn and replaced in the next few days.