UK Mortgage Rates — Find the Cheapest Deal
Compare current UK mortgage rates across fixed variable and tracker products. See 2-year and 5-year fixed rates from major UK lenders.
UK mortgage rates have stabilized in 2026 with 2-year fixed rates at 4.2-5.2% and 5-year fixed rates at 3.9-4.8%. Variable rates track the Bank of England base rate plus a margin. With rates potentially declining choosing between short-term and long-term fixes requires careful consideration of your expectations for future rate movements.
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Key Information
| Parameter | Details |
|---|---|
| 2-Year Fixed Rate | 4.2% - 5.2% |
| 5-Year Fixed Rate | 3.9% - 4.8% |
| Standard Variable Rate | 5.5% - 7.0% |
| Bank of England Base Rate | 4.5% (March 2026) |
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Use Calculator NowFrequently Asked Questions
Should I fix for 2 or 5 years?
If you expect rates to fall significantly in 2 years choose a 2-year fix to remortgage at lower rates sooner. If you want payment certainty and rates are already attractive a 5-year fix locks in protection for longer. 5-year fixes often have slightly lower rates than 2-year fixes reflecting market expectations of future rate drops.
How much can I save by remortgaging?
Moving from a 5.5% SVR to a 4.2% fixed on a £200000 mortgage saves £150/month or £1800/year. Over a 2-year fix that is £3600 in savings minus arrangement fees (typically £1000-£1500). Net saving: £2100-£2600. Always remortgage before your fix expires to avoid the expensive SVR.
What fees should I look for in UK mortgages?
Arrangement fee (£999-£1999 typical) valuation fee (often free) legal fees (£300-£500 or free with lender package) and early repayment charges (1-5% during fixed period). Some low-rate mortgages have high fees. Calculate the total cost including fees over the deal period not just the headline rate.
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Last updated: March 2026