Below is a snapshot of the lowest mortgage rates across the market right now, updated regularly. The rates you qualify for depend on your deposit, credit history and income, so use this as a guide and get in touch to find out what is available to you.
The best mortgage deals come from across the whole market, not just the big high street names. These are some of the banks, building societies and specialist mortgage lenders we compare rates from, including several that only offer their products through a mortgage broker.
The live table above shows the lowest rates in the market on any given day, but the lowest headline rate is rarely the cheapest mortgage deal once product fees, the length of the rate period and your own circumstances are taken into account. This section is our plain English guide to how UK mortgage rates work, what moves them, and how a fee free mortgage broker compares mortgages properly. It is written by our advisers and reviewed every month. Last review: September 2026.
The interest rate is the percentage the lender charges each year on the money you borrow. On a repayment mortgage your monthly repayments cover that interest plus a slice of the capital, so the mortgage balance falls over the mortgage term, typically 25 years or more. A lower interest rate means more of each payment clears the debt, which is why a small difference in rate adds up to a large difference in the total cost of your mortgage over five years.
The Bank of England base rate is the benchmark that sets the tone for the whole market. When the base rate rises, variable rate mortgages go up almost straight away and the cost of new fixed rate deals usually follows. When it falls, the reverse happens, though lenders may move at different speeds. A base rate change does not touch an existing fixed rate until the deal ends, which is exactly why so many people fix.
Fixed rate mortgages are priced off swap rates, which reflect where the money markets expect the base rate to be over the next two or five years, not where it is today. That is why fixes can get cheaper while the base rate stays put, or dearer after a surprise inflation figure. Watching the news for base rate announcements tells you part of the story; the swap market tells you the rest, and it is what your adviser keeps an eye on.
Inflation is the reason the base rate moves at all. When prices are rising quickly the Bank of England raises rates to cool spending; when the economy slows it cuts them. Market conditions can shift the direction of rates within weeks, so a rate you saw in a newspaper a month ago may no longer exist. The rates on this page are updated regularly, and we check them every working day.
A 2 year fixed deal locks your initial interest rate and monthly repayments for two years. Two year fixes tend to carry lower rates when the market expects rates to fall, and they suit borrowers who want flexibility to remortgage sooner or who expect their situation to change. The catch is that you go through the remortgaging process again after two years, with a new set of product fees to weigh up.
A 5 year fixed rate gives you certainty for five years and fewer product fees over the life of the mortgage. Five year fixed deals often sit at a similar or lower rate than two year fixes when the market expects rates to stay high, so it pays to compare mortgage rates across both terms rather than assuming shorter is cheaper. Early repayment charges last for the full five years, so think about moving home or overpaying before you commit.
A tracker rate follows the Bank of England base rate plus a set margin, so your monthly repayments rise and fall with it. These deals often come with no early repayment charges, making them a sensible choice if you may sell or repay early, or if you believe rates will fall over the rate period. The risk is the opposite: if rates rise, so does your payment, with no cap unless the deal includes one.
A discounted variable deal gives you a set discount off the lender's standard variable rate for a fixed period, usually two or three years. Because the lender controls its own SVR, the rate can move independently of the base rate. Discounted deals can look cheap in a best buy table, but they carry more uncertainty than a fix and the discount is only as good as the SVR it is measured against.
The standard variable rate is the rate you fall onto when your fixed or discounted deal ends. Lenders set their SVR themselves and it is normally several percentage points above the best new deals. Sitting on the SVR for even a few months can cost hundreds of pounds, so the single most valuable thing on this page is a reminder to start looking at remortgage deals about six months before your current deal ends.
Offset mortgages link your savings account to your mortgage balance so you only pay interest on the difference, which can beat savings interest for higher rate taxpayers. Capped rates, stepped fixes and green mortgages that reward a good EPC rating also appear in best buy tables from time to time. They are niche, but for the right borrower a niche product can be the best deal available.
The APRC, or annual percentage rate of charge, shows the cost of the mortgage over its full term including fees and the assumption that you revert to the SVR after the deal. It is a blunt tool, because almost nobody stays on the SVR for 25 years, but it is a fair way to compare mortgages with very different fee structures side by side. Every lender must quote it, and you will see it in the table above.
Lenders offer the same mortgage at several price points: a low rate with a high product fee, a higher rate with no fee, and sometimes a cashback incentive. A £999 fee makes sense on a large mortgage amount where the lower rate saves more than £999 over the deal; on a smaller loan the fee free version often wins. A booking fee, where one applies, is paid up front and is not refunded if the purchase falls through.
Take a £180,000 repayment mortgage over 25 years. A deal at 4.3% with a £999 product fee costs about £980 a month; a fee free deal at 4.5% costs about £1,000 a month. Over a two year rate period the lower rate saves roughly £480 in payments, so the fee free option is cheaper by about £500. Over five years the sums flip and the fee paying deal edges ahead. For illustration only, not advice.
Every mortgage advert and illustration must carry a representative example: a specific loan amount, rate, term, monthly payment, fees and the total amount payable. Read it carefully. It is the closest thing you will get to a like for like comparison between two lenders, and the total amount payable figure is a useful reality check on how much interest a mortgage really costs over its life.
Most fixed and discounted deals carry an early repayment charge, typically starting around 5% of the balance and stepping down each year. Almost all include an overpayment allowance, usually 10% of the mortgage balance a year, so you can clear the debt faster without a penalty. If you expect a lump sum or plan to move within the deal, a slightly higher rate with lower charges can be the better deal.
Comparison sites and best buy tables are a good place to get an idea of where rates sit, but they only show products lenders choose to list and they cannot tell you which lenders will accept you. A mortgage broker with whole of market access searches the same deals plus broker only products, and checks eligibility criteria before you apply for a mortgage, so a credit search is not wasted on a lender who was never going to say yes.
Your loan to value, or LTV, is the mortgage amount as a percentage of the property value. Lenders price in bands: 60%, 75%, 85%, 90% and 95%. Drop from 90% to 85% LTV with a slightly bigger deposit and the interest rate on offer can fall noticeably; get to 75% LTV and you unlock most lenders' sharpest pricing. If you are within a few thousand pounds of a band, it is worth finding the extra deposit.
A strong credit score opens the door to the lowest mortgage rates. Missed payments, defaults or a high level of existing debts push you towards lenders that price for risk. Before you apply, check your credit report with all three agencies, register on the electoral roll, and avoid new credit in the months before your mortgage application. Small fixes made early can save a great deal on the rate you end up with.
Lenders check how much you could borrow against your salary, other income, debts and outgoings, then stress test the monthly payments at a higher rate to make sure you could still pay if rates rise. Employment status matters too: self employed applicants usually need two years of accounts, and contractors are assessed on day rates. None of this changes the rate directly, but it decides which lenders, and therefore which deals, are open to you.
Flats above shops, new build homes, ex local authority properties and homes of non standard construction can all narrow the field of lenders willing to lend, which in turn narrows the rates available. A good EPC rating occasionally unlocks a green mortgage discount. Your adviser will flag any property quirks early so you are not chasing a rate that the lender's valuer will later rule out.
First time buyers usually borrow at 90% or 95% LTV, where rates are highest, so the choice of lender matters more than at any other stage. The government backed mortgage guarantee scheme keeps 95% deals available, a guarantor mortgage or a joint borrower sole proprietor arrangement can improve affordability, and stamp duty land tax relief for first homes reduces the cash you need on the day. Our first time buyer mortgages page goes into all of it.
If your current mortgage deal ends in the next six months you can usually lock in a new deal now and switch on the day the old one finishes, with the option to swap again if rates fall in between. Remortgaging to another lender often beats your existing lender's product transfer, but not always, so we compare both. See our remortgage page for how the timing works.
Moving home with an existing fixed rate usually means porting the deal to the new property and topping up with a second product for any extra borrowing. Whether porting or a fresh mortgage gives the best deal depends on the gap between your current rate and today's rates, and on the early repayment charge you would otherwise pay. Our guide to porting and early repayment charges walks through the maths.
A buy to let mortgage is priced differently. Rates are generally higher than residential, product fees are often a percentage of the loan rather than a flat figure, and the lender assesses the rent against the mortgage interest at a stressed rate. Landlords with a larger deposit and strong rental cover get the best buy to let mortgage rates. Our buy to let mortgages page covers the criteria.
Most lenders let you secure a new rate up to six months ahead. Booking early gives you a safety net if rates rise, and a good broker will re-check the market before completion and move you to a cheaper deal if one appears. Waiting until the month your deal ends usually means a spell on the SVR or a rushed choice.
There is no right answer between a two year and a five year fixed mortgage. If you value stability and expect to stay put, a longer fix protects you from rate rises. If you may move, or believe rates are heading down, a shorter deal or a base rate linked product keeps your options open. Our two or five year fix guide sets out the trade offs.
Our free mortgage calculators estimate monthly repayments at different rates and terms, show what an overpayment saves, and work out stamp duty land tax. They are for guidance only and not a substitute for a full illustration, but they help you arrive at a conversation with a clear budget in mind.
A rate is one number. Mortgage advice covers the number and everything around it: the fee structure, the term, the flexibility, the protection insurance you may need, and whether the lender will actually approve you. Our advisers are FCA regulated, fee free for standard cases, and paid by the lender only when your mortgage completes. If you are searching for the best mortgages rates today, the quickest route to the right one is a ten minute chat.
Want to know which of today's rates you actually qualify for? Call 03300 432 428 or request a call back. No fees for standard cases, no obligation.
Your home may be repossessed if you do not keep up repayments on your mortgage. Rates shown on this page are illustrative and change frequently. Figures in worked examples are for illustration only and are not financial advice.
Mortgage rates can feel complicated, but they don't have to be. Here's our plain-English guide to the questions we're asked most often.
A fixed rate stays the same for a set period, typically 2, 3 or 5 years, so your monthly payments are completely predictable no matter what the Bank of England does. A tracker mortgage moves in line with the base rate: when rates fall, so do your payments; when they rise, so do your costs. Most buyers choose a fix for peace of mind, but trackers can be a great option if you expect rates to fall or want the flexibility to overpay or move without early repayment charges.
The headline rates you see on comparison tables are the best-case figures. What you're actually offered will depend on your loan-to-value ratio (your deposit size relative to the property), your credit history, your income and employment type, the property itself, and the mortgage term. That's why a whole-of-market broker is worth talking to: we know which lenders are most likely to say yes at the best rate for your specific circumstances, not just in theory.
Lenders price their rates in LTV bands: 60%, 75%, 85%, 90%, and 95%. The biggest improvement typically kicks in at 60% LTV, where lenders offer their sharpest deals. But the step from 90% to 85% LTV can also make a meaningful difference. If you're close to a lower band, it's worth exploring whether topping up your deposit a little could unlock significantly better rates and reduce the total interest you pay over the life of the mortgage.
Rates can change daily, sometimes multiple times a day, as lenders respond to swap rates, funding costs and market competition. The rates on this page are updated regularly, but by the time you apply they may have moved. Having an adviser who watches the market every day and knows when to act quickly is one of the most practical reasons to use a broker. When the right deal appears, we move fast.
Yes, and here's the honest reason why. We have access to the whole of the market, including exclusive products reserved for broker-introduced cases that never appear on public comparison sites. We also know which lenders are most likely to accept your application, which means no wasted credit searches and a cleaner application. And because we charge no fees at all, the only thing you have to lose by speaking to us is the time it takes, which is usually just a quick call.
Speak to one of our advisers today. No fees, no pressure, just honest whole-of-market advice tailored to you.
Book a Free ConsultationCall 03300 432 428The 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.
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 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:
Buy-to-let specialists for investment property purchases.
Self-employed friendly lenders with flexible income assessment.
Adverse credit specialists for borrowers with credit history challenges.
Islamic mortgage providers offering Sharia-compliant financing.
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 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.
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.
We liaise with solicitors on your behalf and oversee the process right through to mortgage completion. You're never left to navigate it alone.
