The bank has suspended the option of fixing for the majority of its customers. But some customers who are at the end of a fixed rate have a clause in their contract that states they must be offered a new fixed rate after their current fixed period ends.
They will be offered 8.75pc if they want to fix for five years, a rise of 3pc from the rate offered the last time.
The two-year rate will rise from 5.25pc to 7.25pc. The seven-year rate will go from 6.1pc to 9.1pc, for those who have a 20-day option to fix again