If you're mid-application, you already know this. Six major lenders repriced on 25 March. For investors with deals in flight, this matters. Let's run the numbers.

The lender moves

NatWest moved first. According to Mortgage Strategy (25 March), the lender increased rates "mostly around 15 basis points" (one hundredth of a percentage point) effective 26 March across new business, existing customer remortgages, and additional borrowing products. On a £200,000 five-year fixed buy-to-let mortgage, 15 basis points adds approximately £25-30 per month to your cost.

Metro didn't wait for market open next day. The lender pulled products from sale at 5:30 PM on 25 March to implement pricing changes across both residential and buy-to-let ranges. Applications had to reach pre-submission status before the withdrawal deadline - a hard stop that caught some advisers mid-stride. Nottingham Building Society made further increases following multiple announcements earlier in the week, signalling no pause in the repricing cycle. Coventry raised offset and interest-only fixed rates for existing customers on Friday and did not relaunch fixes for new business, a move that signals tightening criteria alongside price increases.

Aldermore withdrew two-year fixed product switches at 5 PM on 25 March and relaunched core products on 26 March with new pricing. Accord announced increases of up to 46 basis points - nearly three times the NatWest move - affecting specific products. On a £200,000 mortgage, 46 basis points costs roughly £75-80 per month more. These aren't headline-grabbing numbers in isolation, but they're the difference between a deal stacking (passing stress tests) and a deal breaking (failing affordability checks).

Why it matters for your pipeline

The pattern is now familiar. Moneyfacts reports that average mortgage rates have risen 59 basis points since the start of this market volatility. Each lender reprices independently, meaning your offer from Monday might be dead by Wednesday. Applications under offer but not submitted are at risk. If you're waiting for "better timing" to apply, the numbers say time costs money now.

The repricing speed is the real story. Metro's 5:30 PM cut-off and Aldermore's same-day withdrawal mean intermediaries and investors can't rely on end-of-day processing windows. Your broker needs to know about deals in principle within hours, not by close of business.

What to track next

Watch Coventry's decision to pull new business fixes. That signals tightening, not just repricing. When lenders stop writing business, they're often ahead of worse news. Check whether loan-to-value (LTV) criteria are tightening alongside rates. A 0.5 percentage point rate rise is painful. A shift from 75% LTV to 70% is worse - it kills entire deals.

Run the numbers on any application in flight. If you're over offer or pre-completion, speak to your broker today about locking in terms before the next round hits.