What are UK mortgage rates today?

As of Q3 2026 the Bank of England base rate is 4.00%. Best-buy UK residential rates are approximately 3.89% for a 5-year fix at 60% LTV, 4.09% at 75% LTV, 4.39% at 90% LTV and 4.79% at 95% LTV. Two-year fixes sit roughly 0.15–0.30% above equivalent five-year products.

How do I know whether to fix for two or five years?

Five-year fixes currently price below two-year equivalents and remove re-broking costs in 2028, which suits borrowers who value certainty or are stretched on affordability. Two-year fixes suit anyone expecting to move, expecting income to rise sharply, or expecting base rate to fall further — at the cost of a second set of fees.

Which calculators should I use before applying?

Three, in order: affordability (what a lender will lend on your income and commitments), repayment (what the monthly cost is at a given rate and term), and stamp duty (the cash needed at completion). Elena runs all three conversationally and reconciles the answers into one borrowing figure.

How often are the rates on this site updated?

Rate and market data is reviewed weekly against lender best-buy tables and after every Bank of England Monetary Policy Committee decision. Quoted figures are representative of leading products, not personal quotes — your rate depends on LTV, credit profile and income type.

Live rate tracker

UK mortgage rates, read properly.

Best-buy pricing by loan-to-value, what pushes your own rate above it, and the total cost that actually decides which deal wins.

AI summary

UK mortgage rates in Q3 2026 sit against a 4.00% Bank of England base rate. Market-leading five-year fixes are approximately 3.89% at 60% LTV, 4.09% at 75% LTV, 4.39% at 90% LTV and 4.79% at 95% LTV, with two-year fixes 0.15–0.30% higher and base-rate trackers around base plus 0.30–0.65%. Fixed pricing is driven by SONIA swap rates rather than the base rate itself, so cuts already expected by markets are largely priced in. Personal rates rise above best buys with higher LTV (0.30–0.50% at 90%), buy-to-let (0.40–0.80%), limited self-employed history (0.20–0.60%) and adverse credit (0.75–2.50%). On a £250,000 25-year repayment mortgage, 0.25% of rate is about £33 a month.

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Key facts

The numbers, at a glance.

Base rate

4.00%

5-yr fix, 60% LTV

3.89%

5-yr fix, 90% LTV

4.39%

Tracker margin

+0.30–0.65%

Eligibility & documents

What lenders want to see.

Who typically qualifies

Residential purchase and remortgage — fixed, tracker and offset
Buy-to-let, priced on rental stress rather than income
Self-employed and contractor income with 1–2 years' evidence
New-build and shared-ownership products at 90–95% LTV
Adverse credit tiers from light arrears to recent defaults

Documents to prepare

Deposit amount and property value, to fix your LTV band
Latest 3 months' payslips or 2 years' accounts / SA302s
Current lender, balance and end date if remortgaging
Monthly credit commitments and dependants
Credit report showing any missed payments in the last 6 years

Why us

How Elena helps, specifically.

Weekly review

Best buys checked weekly and after every Bank of England decision.

LTV banded

Rates shown by the band that actually applies to you, not one headline.

Total-cost ranking

Rate plus fees plus cashback across the deal period, not APRC theatre.

Fee-versus-rate maths

We show the loan size at which a £999 fee starts paying for itself.

Rate-lock windows

Deals reservable up to 6 months ahead of your current end date.

AI-matched

Elena filters 90+ lenders to the products your profile actually qualifies for.

This week's best buys

Leading rates by LTV

Best match

60% LTV

5yr Fix · £999 fee

3.89%

representative rate

Match score96%

"Cheapest total cost on loans above £180,000 once the fee is amortised."

75% LTV

5yr Fix · no fee

4.09%

representative rate

Match score92%

"Best fee-free option — wins on loans under £150,000."

90% LTV

5yr Fix · £499 fee

4.39%

representative rate

Match score88%

"Strongest 10% deposit pricing, free valuation included."

Deep dive

The detail lenders won't tell you.

What actually sets a fixed rate

Lenders fund fixed-rate mortgages by hedging in the swap market, so a five-year fix is priced off the five-year SONIA swap plus a margin for capital, credit risk and target volume. Base rate influences swaps but does not set them — expectations do. That is why fixed rates often fall weeks before a base-rate cut and barely move on the day of it, and why five-year money can price below two-year money when markets expect cuts.

The LTV cliff edges that matter

Pricing steps at 60%, 75%, 80%, 85%, 90% and 95%. Moving from 76% to 75% LTV — sometimes a few thousand pounds of deposit or a slightly higher valuation — can cut 0.20–0.35% off the rate, worth £26–£46 a month on £250,000. Before locking anything, check how far you are from the next band down; a small overpayment or a challenged valuation is occasionally the highest-return action available.

Fee versus rate, with the break-even

Compare deals on total cost across the initial period. A £999-fee product at 3.89% versus a fee-free product at 4.09% on £250,000 over 25 years: the lower rate saves roughly £26 a month, £1,560 over five years, so it wins by about £561 net of the fee. Below roughly £160,000 of borrowing the fee-free deal wins instead. The break-even loan size, not the headline rate, is the decision.

Trackers, discounts and when variable makes sense

Base-rate trackers currently sit around base plus 0.30–0.65%, so 4.30–4.65% at a 4.00% base. They usually carry no early repayment charge, which suits anyone expecting to sell, redeem from a bonus, or bridge a short gap before a fix. Discounted variable rates track the lender's own SVR rather than base rate, meaning the lender can move your rate independently of the Bank of England — read which of the two you are being offered.

High-street vs specialist

Rate by product type and LTV

Criterion	High-street lender	Specialist / AI-matched
2-year fix, 75% LTV	4.29%	£1,357/mo on £250k over 25 yrs
5-year fix, 75% LTV	4.09%	£1,329/mo on £250k over 25 yrs
5-year fix, 90% LTV	4.39%	£1,371/mo on £250k over 25 yrs
5-year fix, 95% LTV	4.79%	£1,429/mo on £250k over 25 yrs
Base-rate tracker	4.30–4.65%	Usually no early repayment charge
Buy-to-let 5-year fix	4.59–5.19%	Priced on 125–145% rental stress

Worked examples

Real scenarios, real numbers.

Remortgage, £212,000 at 78% LTV

Fix ends in four months; £8,000 of savings sitting idle.

Using £6,300 to reduce the balance drops LTV to 75%, cutting the rate from 4.34% to 4.09% — £29 a month, £1,740 over the fix.

First-time buyer, £142,000 at 90% LTV

Choosing between 4.39% with a £499 fee and 4.55% fee-free.

Fee-free wins by £126 over five years at this loan size — the fee only pays back above roughly £165,000.

Owner planning to sell within 18 months

Needs to refinance now but does not want a five-year early repayment charge.

Base plus 0.45% tracker at 4.45% with no ERC — slightly dearer monthly, but no £7,500 exit penalty.

Sources & references

Where these numbers come from.

Bank of England — official Bank Rate — Base rate 4.00% as at Q3 2026.
Bank of England Money & Credit statistics — Effective interest rates on new UK mortgage lending.
SONIA swap curve — Primary driver of UK fixed-rate mortgage pricing.
FCA MCOB 10A — Rules on APRC calculation and rate comparison disclosure.

Rates, criteria and schemes cited are indicative of the UK market at time of publication and change frequently. Elena verifies live rates against 90+ lender panels before every application.

FAQ

Questions, answered.

Can't find your answer?

Elena, our AI mortgage expert, can answer it in seconds — or book you a free callback with a human broker.

What is the best mortgage rate in the UK right now?

In Q3 2026 the leading UK residential rates are approximately 3.89% on a 5-year fix at 60% LTV, 4.09% at 75% LTV, 4.39% at 90% LTV and 4.79% at 95% LTV. Two-year fixes are roughly 0.15–0.30% higher, and base-rate trackers sit around base plus 0.30–0.65%.

Why is my rate higher than the best buy?

Best-buy rates assume 60% LTV, clean credit, PAYE income and a residential purchase or remortgage. Each variance adds margin: 90% LTV adds roughly 0.30–0.50%, buy-to-let 0.40–0.80%, one year of self-employed accounts 0.20–0.60%, and adverse credit 0.75–2.50%.

Are mortgage rates expected to fall in 2026?

Fixed rates follow SONIA swap rates rather than the base rate directly, and swaps already price in the expected path. With base rate at 4.00% and markets pricing one to two further cuts, most lenders' five-year fixes have already absorbed much of that expectation — which is why they price below two-year products.

How much does a 0.25% rate difference cost?

On a £250,000 repayment mortgage over 25 years, 0.25% is roughly £33 a month, or £1,980 across a five-year fix. That is why a product fee of £999 can still be the cheaper option on larger loans and the wrong choice on smaller ones — compare total cost over the deal period, not the headline rate.

Should I compare APRC or the initial rate?

Compare total cost over the initial period — initial rate plus fees plus cashback — for any deal you expect to remortgage at the end of. APRC assumes you keep the mortgage for the full term at the reversion rate, which almost no UK borrower does, so it usually overstates the cost of short fixes.

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