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Mortgage lender HBoS has re-priced a host of its fixed rate and tracker mortgages on the back of high inter-bank lending rates.

Brokers learned of the new pricing structure in an email sent out at 10am on Friday 20 June in preparation for them coming into effect on Saturday 21 June.

Of the lender's 32 tracker rate mortgage deals, five will see rate rises, with an average increase of 0.25 of a percentage point.

Of HBoS's 31 fixed rate mortgage range, 19 will see rate rises, with the average rise being 0.4 of a percentage point.

Nathan Wallis, press officer for HBoS, said the alterations to the lender's range were in line with other lenders' activities.

He said: "Over the past few weeks most major lenders have increased their pricing on a number of occasions. Wholesale money is very expensive. In addition, swap rates have moved up in recent weeks, that means that fixed rates have become more expensive.

"Unfortunately these increased costs have to be passed on to new customers by banks and building societies."

The fallout from the credit crunch and ensuing credit squeeze has seen a number of lenders amending the rates on their mortgage deals.

While the Bank of England has held interest rates at 5 per cent consecutively over the past two months and injected £50bn into the mortgage market in April, rates have not fallen as anticipated as the rate of inter-bank lending, represented by Libor, has remained restrictive to many lenders.