Best Mortgage Rates Today UK
Use our comparison table to find the lowest rates. Alexander Southwell Mortgages
Whether you’re a first-time buyer stretching for that initial property purchase or a seasoned homeowner looking to remortgage, finding the right deal could save you thousands of pounds over your mortgage term.
Find expert mortgage services with Alexander Southwell. Call us on 03300 432428 to talk with our experienced mortgage broker team, or complete our contact form for a call back. Our mortgage experts can search the entire mortgage market to find you the best product.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Some Buy To Let mortgages are not regulated by the Financial Conduct Authority
Best Mortgage Interest Rates Today – Compare and Save
Finding the best mortgage interest rates today can make a huge difference to your overall repayment term and monthly mortgage payments. Whether you’re a first-time buyer, remortgaging, or looking at a buy to let mortgage, understanding the market will help you secure a rate deal that works for you.
How to Compare Mortgage Deals
When you compare mortgage options, it’s important to look beyond just the headline interest rate. Factors like the booking fee, product fee, and any scheme fees can all influence the overall cost for comparison. Use our online calculator to see how much you could borrow and what your mortgage payment might be for different scenarios.
Our panel covers everything from year fixed offers to tracker mortgages and different types of mortgage deals that suit your purchase type. If you’re looking to buy or moving home, we’ll match you with competitive rates and provide expert advice tailored to your needs.
Understanding the Terms
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Mortgage amount – The sum you borrow from the lender.
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Mortgage balance – What you still owe during your term.
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Repayment term – How long you take to repay.
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Rate mortgage – Your loan type based on a fixed or variable rate.
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Tracker mortgage deal – Tracks the Bank of England base rate.
Our mortgage experts ensure every information message interest rate is explained clearly so you can make confident decisions. We’ll also cover how your choice might affect your credit score, especially if you’re considering multiple applications.
Get Started Today
There’s no need to waste time hunting through sites with no rates or outdated data. We’ll help you find the mortgage type that suits your circumstances, factoring in fees, features, and the flexibility you need. Whether you’re chasing the lowest mortgage interest rates or simply an idea of what’s available, we can provide up-to-date comparisons.
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Understanding Rate Components
When comparing mortgage rates, it’s essential to look beyond the headline interest rate. The overall cost for comparison (APRC) includes arrangement fees, which typically range from £0 to £999, and the lender’s standard variable rate that applies after the initial period ends.
Best Mortgage Rates by Loan-to-Value (LTV)
Your deposit size fundamentally determines which mortgage rates you’ll access. The loan to value ratio – the percentage of the property value you’re borrowing – acts as the primary pricing mechanism across all mortgage lenders.
Understanding this relationship empowers you to make strategic decisions about your deposit size and timing. Even a 5% increase in your deposit can unlock significantly better mortgage interest rate tiers, potentially saving thousands over your mortgage term.
Best Rates for First-Time Buyers (90-95% LTV)
First-time buyers typically operate in the 90-95% LTV bracket, requiring only 5-10% deposits. While these high LTV mortgages carry higher interest rates, several lenders offer compelling packages specifically designed for this market segment.
Exclusive First-Time Buyer Benefits:
Free standard valuation (typically saving £300-500)
Legal fees paid by the lender
Cashback incentives up to £1,000
Reduced or zero arrangement fees
Access to shared equity mortgages for enhanced affordability
Many lenders now provide first time buyer exclusive online portals, streamlining the mortgage application process and providing dedicated support throughout the journey. This digital-first approach often includes tools for mortgage first time buyer education and simplified documentation requirements.
FEE FREE Mortgage Advice
At Alexander Southwell Mortgage Services we can with all your Mortgage and Protection needs. Get in touch with us today:
Fee Free Mortgage Brokers & Adviser Services
How do Alexander Southwell Mortgage Services Provide Fee Free Mortgage Advice? Mortgage advice explained.
Alexander Southwell is a fee free mortgage broker. We give expert mortgage advice, find the right mortgage for you and do all the hard work to apply for a mortgage – completely free of charge. We do not need to charge you a large broker fee to get a mortgage, we get paid by the mortgage lender after your home purchase or remortgage is completed.
Most mortgage brokers get paid by the lender this way. It’s called a procuration fee or ‘proc fee’.
For insurance products, we’re paid by the insurer when you complete the purchase and your cover starts.
The details of the fees we earn from lenders and insurers are set out in the product information we send you. What we pay our advisers reflects their expertise in finding you the right mortgage or insurance. We do not offer them incentives to pick specific lenders or insurers.
Our main focus is you, the client, and making sure we find you the most suitable mortgage available. So the entire process from your initial enquiry to you actually getting on the property ladder is a smooth one. We like to show people why to use a mortgage broker and why we are highly recommended.
Some Buy To Let mortgages are not regulated by the Financial Conduct Authority
Best Rates for Large Deposits (60-75% LTV)
Borrowers with deposits of 25-40% access the mortgage market’s most competitive rates. At 60% LTV, prime fixed rate mortgages start lower, representing substantial savings compared to higher LTV alternatives.
The mathematics are compelling: a borrower with a 40% deposit on a £300,000 property enjoys significantly lower monthly payments compared to someone with a 10% deposit, even before considering the reduced loan amount.
Premium Rate Benefits:
Access to exclusive rates unavailable to higher LTV borrowers
Waived or reduced arrangement fees
Enhanced overpayment allowances (typically 10% annually without penalty)
Preferential rate matching policies from existing mortgage customers
Priority application processing and dedicated relationship management
Many lenders offer fee-free options at lower LTV levels, eliminating the £999 arrangement fees common on standard products. For larger loan amounts, however, paying a fee for a marginally lower rate often proves economical over the fixed rate period.
Fixed vs Variable Rate Mortgages: Best Options
Choosing between fixed rate mortgages and variable alternatives represents one of the most significant decisions in your mortgage journey. Each option carries distinct advantages and risks that align differently with borrower circumstances and market outlook.
Strategic Decision Framework
Choose Fixed Rates If:
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You prioritize payment certainty and budgeting stability
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You believe interest rates will rise during your chosen term
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You’re stretching affordability and need predictable payments
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You’re risk-averse and value peace of mind over potential savings
Consider Variable Rates If:
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You expect the Bank of England base rate to fall
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You can comfortably afford payment increases
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You value the flexibility to overpay without early repayment charges
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You’re comfortable with payment uncertainty in exchange for potential savings
Best Mortgage Lenders and Their Rates
The UK mortgage market features diverse lenders, each with distinct strengths, target markets, and competitive positioning. Understanding these differences helps identify which lenders offer the best mortgage rates for your specific circumstances.
Major High Street Banks
HSBC dominates the premium mortgage market with loans extending to £2 million. Their mortgage portal provides comprehensive online management, and existing mortgage customers often benefit from preferential rate matching on competitive deals.
The bank’s strength lies in serving affluent borrowers and those seeking substantial loan amounts. Their mortgage application process emphasizes relationship banking, often providing more favorable terms for customers maintaining broader banking relationships.
Barclays offers extensive mortgage options with terms spanning 2-10 years and competitive rates across the LTV spectrum. Their digital mortgage platform streamlines applications, while branch-based support remains available for complex cases.
The bank’s mortgage compared favorably in recent market analyses, particularly for their flexible product range and willingness to consider non-standard income types.
NatWest and Royal Bank of Scotland have carved strong positions in the first-time buyer market. Their mortgage professional teams provide specialized support, often including phone or video call consultations to guide borrowers through complex decisions.
Building Societies and Alternative Lenders
Building societies often provide more flexible lending criteria and competitive rates, particularly for borrowers with complex income patterns or unique circumstances. Many offer only mortgage products exclusively available through their direct channels.
Nationwide, Yorkshire Building Society, and Coventry Building Society frequently appear in best-buy tables, offering competitive rates and often more personal service than larger banks.
Digital-first lenders like Atom Bank leverage technology to offer streamlined processes and competitive pricing, though their lending criteria may be more restrictive than traditional lenders.
Specialist Mortgage Options
Some lenders focus on specific market segments:
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Buy-to-let specialists for investment property purchases
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Self-employed friendly lenders with flexible income assessment
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Adverse credit specialists for borrowers with credit history challenges
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Islamic mortgage providers offering Sharia-compliant financing
How to Find the Best Mortgage Rate for You
Securing the best mortgage rates in UK requires systematic comparison and strategic timing. The process extends beyond simply identifying the lowest headline rate to understanding the total cost over your intended ownership period.
Understanding True Cost Comparison
The headline interest rate tells only part of the story. The overall cost for comparison (APRC) incorporates all fees and charges, providing a more accurate picture of the mortgage’s true expense.
Key Cost Components:
Arrangement fees (typically £0-£999)
Valuation fees (often £300-500, sometimes waived)
Legal fees (£500-1,500, sometimes paid by lender)
Early repayment charges during the fixed rate period
Exit fees when switching lenders
Calculate the total cost over your likely ownership period rather than focusing solely on monthly payments. A mortgage with a £999 arrangement fee and 3.85% rate may prove cheaper than a fee-free 4.10% option over a five-year period, depending on your loan amount.
Mortgage Application Strategy
Preparation Phase:
Credit score optimization – Check your credit report and address any issues before applying
Documentation gathering – Organize payslips, bank statements, and other required documents
Deposit maximization – Consider if delaying purchase to increase your deposit unlocks better rates
Market timing – Monitor rate trends and be prepared to move quickly when favorable deals appear
Application Timing: Mortgage offers typically remain valid for 3-6 months, providing flexibility during property searches. However, rates can change rapidly, so securing an offer when favorable deals appear protects against market movements.
Professional Advice Considerations
Mortgage Brokers access exclusive deals unavailable to direct applicants and provide valuable market knowledge. They’re particularly beneficial for complex cases or first-time buyers navigating the process.
Direct Lender Applications sometimes offer exclusive rates or incentives not available through intermediaries. Some borrowers prefer the direct relationship and control over the application process.
Consider your complexity, time availability, and comfort level when deciding between broker-assisted and direct applications.
We’ll illustrate the facts and figures in an easy to understand presentation, including competitive mortgage rates & the right mortgage deal for you and the justifications behind the recommendations. We will consider interest rate, stamp duty, whether the lender will charge a fee or be fee free, How long the application process will take.
Best Mortgage Rates FAQs
Is it better to use a Bank over a mortgage adviser?
One of the biggest benefits of working with a broker is the simplification of the market comparison and application processes and help you find the right mortgage.
Once you have provided your broker with a few basic details, they will typically handle most of the subsequent complexities on your behalf. Working with an broker also means gaining access to honest and personal information, which is rarely available directly from a bank or lender.
Even if your circumstances are complex, like bad credit or self employed mortgages, a good broker will be able to help you.
Brokers can also provide access to some exclusive deals you won’t find on the High Street, often from lenders that do not work directly with the public.
- Expertise – An experienced and reputable broker can also help you choose from the various mortgage products and home loans available, ensuring you make the right decision to suit your requirements and your budget.
- Simplicity – The job of the mortgage broker is to do most of the hard work on your behalf, find deals from an extensive panel of lenders to find your perfect mortgage.
Which Mortgage Lender offers the best interest rates?
This is forever changing, lenders regularly change the mortgage products they offer.
The excellent news is though, we have an extensive panel of lenders, this means we have access to competitive interest rates and deals in the UK. This includes all high-street lenders such as Halifax, Barclays, Nationwide, Santander, Natwest and many more. Whatever your situation, we will help you achieve the right available mortgage interest rate and deal. We will give the right mortgage services advice and guidance suited to your situation with competitive available rates and deals. Our team of advisers will complete everything for you whilst supporting you every step of the process.
We are your online & face to face mortgage brokers offering a customer-focused service that is fee free!
Using a mortgage broker won’t make the whole process stress free but with us being fee free it takes one less cost away for you not to be concerned about.
When is the best time for borrowers?
Arguments for Acting Now:
Current rates remain competitive within the recent historical context
Rate timing is notoriously difficult, and waiting carries opportunity costs
Property market dynamics may change independently of rate movements
Securing a property often outweighs modest rate variations
Arguments for Waiting:
Potential for 0.25-0.5% rate improvements if base rate projections prove accurate
Increased lender competition as market conditions evolve
Possible government interventions or policy changes affecting mortgage accessibility
How long will it take for my mortgage application to be approved?
There are different levels of approval throughout the process of getting a mortgage agreed so it depends what part of the process you are in. After speaking to our mortgage consultant we can take you through every step to all three of these agreed for you:
- Affordability Check – Some clients are at the very beginning of their mortgage application process, therefore they might not currently have saved the correct deposit or be in a positions to move forward. We can offer a basic affordability check and provide further information to clients to let them know what they need to do and where they need to get to, to get them mortgage ready.
- An agreement in principle can be obtained instantly in some circumstances but usually will take a few hours if needed that fast. This is where we gather all of the relevant information from yourself, search our panel of lenders, find a suitable lender who fits with your affordability and then run through the lenders credit checking system to make sure this fits with there criteria. Once this has been done the lender will issue us with a certificate stating the amount you can borrow in principle. This puts you in a perfect position to find a property and start negotiations with the estate agent.
- Mortgage Offer is where both you and the property you are purchasing have been approved by the lender. We have discussed your monthly payment, insurance protection and found the right mortgage for you. Approval requires a valuation to be conducted on the property and this whole process on average will take 2/3 weeks. Each application is different though, it doesn’t matter whether you are a first time buyer, home mover or buy to let investor, some applications take 1 week and some can take up to 4 weeks depending on the full situation.
How do I secure the cheapest mortgage interest rate?
Optimising your mortgage application and positioning yourself advantageously requires strategic preparation and tactical execution. The difference between average and excellent rates often lies in the details of your application and timing. Of course you want your rate the lowest so it makes your mortgage repayments as low as possible.
Credit Score Optimisation Strategies
Your credit score directly influences the mortgage rates available to you. Most lenders use credit scoring to determine eligibility and pricing, making optimization efforts potentially valuable.
Immediate Actions:
Check credit reports from all three agencies (Experian, Equifax, TransUnion)
Correct any errors through formal dispute processes
Pay down existing debts to improve your debt-to-income ratio
Avoid new credit applications in the months before your mortgage application
Longer-Term Strategies:
Establish credit history through responsible credit card use
Register on electoral roll at your current address
Close unused credit accounts to reduce available credit limits
Demonstrate financial stability through consistent banking patterns
What parts of the country do you cover?
We cover the whole of the UK. From Southampton, where our head office is based, to Salisbury, Liverpool to Newcastle & Scotland , we’re here to serve your mortgage needs no matter where you are located. You can find us on the financial services register to show we are fully regulated to search for a suitable mortgage based on your circumstances.
Our Specialist Mortgage adviser Services
Some buy to let mortgages are not regulated by the financial conduct authority
Our Mortgage Lender Partners
