Barclays and NatWest customers facing immediate extra costs after changes made

Dariusz Karpowicz, director of Doncaster-based Albion Financial Advice, said the rapid succession of increases among the major lenders was a clear signal from funding markets.

He added: "Swaps have been driven by war, oil, and broader jitters, and Barclays’ move from its 4.55% two-year fix to 4.75% reflects the pressure. The Bank of England decision on Thursday may not halt the current trend. If you are purchasing, or your deal expires in the next six months, lock in a rate now. Most lenders allow a remortgage offer to be held for as long as six months; if prices drop, you can move to the cheaper product, and if they climb, you are already covered. Delaying is a gamble, and at the moment you do not need to take it."