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Best mortgage rates

As some lenders increase mortgage rates while others trim them, we look at what’s happening with the best mortgage rates in the UK. Read on for the best mortgage rates currently available, best remortgaging deals, best 5 year fixed rate, Buy To Let mortgage deals, green mortgage deals and more.

The best mortgage rates continue to be a mixed picture this month, with some lenders cutting rates while others increase or hold them, amid an uncertain outlook for interest rates.

When mortgage rates are volatile it’s essential to shop around for the best mortgage deal – and to act fast. If you’re remortgaging, you can do this up to 6 months before your current deal ends.


Current best mortgage rates (Purchase)

Buying a house? Here are the current best mortgage rates at different deposit levels for 2 and 5 year fixed rate mortgages and 2 year tracker mortgages. Remortgaging? Jump to the current best mortgage rates for remortgages.

Loan-to-value 2 year fixed rate (+fee) 5 year fixed rate (+fee) 2 year tracker (+fee)
95% LTV
4.74% (£749)
4.76% (£1,499)
4.84% (£-250)
90% LTV
4.27% (£1,499)
4.37% (£1,499)
4.64% (£999)
75% LTV
3.94% (£1,499)
4.01% (£1,499)
4.14% (£1,104)
60% LTV
3.82% (£749)
3.98% (£490)
4.11% (£1,599)
Source: L&C, 21 October 2025. Find more about our rates data here.

Fixed Rate Mortgages (Purchase)

The best mortgage rates on fixed deals vary depending on how long you fix for. Here are the best 2, 3, 5 and 10 year fixed rate mortgage deals currently available if you’re buying a house:

Best 2 year Fixed Rate Mortgage (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Santander 3.82% £749 £934 6.2% £11,585 60%
Nationwide 3.85% £999 £938 6.2% £11,751 60%
Halifax 3.87% £1,099 £940 6.8% £11,828 60%
Lloyds 3.87% £1,199 £940 6.8% £11,878 60%
Cumberland 3.88% £999 £941 6.6% £11,792 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Best 3 year Fixed Rate Mortgage (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
First Direct 3.93% £490 £947 5.9% £11,525 60%
Yorkshire BS 3.95% £995 £949 6.2% £11,721 60%
Halifax 3.96% £1,099 £950 6.6% £11,769 60%
Barclays 3.97% £899 £951 5.5% £11,716 60%
Nationwide 3.99% £999 £954 6.1% £11,777 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Best 5 year Fixed Rate Mortgage (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
First Direct 3.98% £490 £953 5.5% £11,528 60%
Cumberland 3.98% £999 £953 6.0% £11,630 60%
Nationwide 3.99% £999 £954 5.7% £11,644 60%
Santander 3.99% £749 £954 5.7% £11,594 60%
Natwest 4.02% £1,495 £957 5.8% £11,785 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Best 10 year Fixed Rate Mortgage (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Nationwide 4.45% £999 £1,007 5.3% £12,189 60%
Nationwide 4.45% £499 £1,007 5.3% £12,139 75%
Nationwide 4.48% £999 £1,011 5.3% £12,232 75%
Nationwide 4.54% £0 £1,018 5.3% £12,218 60%
Nationwide 4.55% £-500 £1,019 5.3% £12,182 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Variable Rate Mortgages (Purchase)

Considering a variable rate mortgage? Here are the lowest mortgage rates in the UK currently on 2, 3, 5 and 10 year variable rate mortgages if you’re buying a house:

Best 2 year Variable Rate Mortgages (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Halifax 4.11% £1,599 £968 6.9% £12,410 60%
Santander 4.14% £999 £971 6.3% £12,152 60%
Furness 4.14% £1,104 £971 7.4% £12,204 80%
Nationwide 4.19% £999 £977 6.3% £12,222 60%
HSBC 4.19% £999 £977 6.1% £12,222 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The lowest mortgage rate in the UK on a variable rate mortgage is currently from Halifax at 4.11% (fees £1,599). However, it’s important to remember that the rate you’ll pay on a variable rate mortgage can go up as well as down. This can make budgeting more difficult if the rate you pay increases.
  • These mortgage rates are for if you’re buying a house. Click here for the best 2 year variable rate mortgages if you’re remortgaging.

Best 3 year Variable Rate Mortgages (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Newbury 4.04% £850 £959 5.6% £11,797 75%
Beverley BS 4.54% £1,445 £1,018 6.7% £12,699 80%
Newbury 4.64% £850 £1,030 5.8% £12,644 85%
Newbury 4.74% £850 £1,042 5.8% £12,788 90%
Family BS 5.69% £1,349 £1,160 7.2% £14,364 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Best 5 year Variable Rate Mortgages (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Barclays 4.60% £999 £1,025 5.5% £12,503 60%
Barclays 5.00% £999 £1,074 5.6% £13,083 85%
Barclays 5.25% £1,749 £1,104 5.7% £13,603 75%
Hanley Economic 5.29% £0 £1,109 6.9% £13,312 60%
Earl Shilton 5.54% £1,350 £1,141 6.9% £13,957 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Best 10 year Variable Rate Mortgages (Purchase)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Co-Op 4.59% £999 £1,024 6.9% £12,322 60%
First Direct 4.80% £490 £1,049 6.5% £12,608 75%
Co-Op 4.89% £999 £1,060 6.9% £12,756 75%
First Direct 4.90% £490 £1,061 6.5% £12,754 90%
First Direct 4.90% £0 £1,061 6.5% £12,737 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025

Current best mortgage rates (Remortgage)

These are the current best mortgage rates at different deposit levels for 2 and 5 year fixed rate mortgages and 2 year tracker mortgages if you’re remortgaging.

Loan-to-value 2 year fixed rate (+fee) 5 year fixed rate (+fee) 2 year tracker (+fee)
95% LTV
4.80% (£1,536)
4.76% (£1,304)
4.84% (£59)
90% LTV
4.32% (£1,058)
4.36% (£954)
4.64% (£999)
75% LTV
3.94% (£1,999)
4.02% (£1,499)
4.14% (£1,058)
60% LTV
3.88% (£999)
3.86% (£1,499)
4.11% (£1,499)
Source: L&C, 21 October 2025. Find more about our rates data here.

Fixed Rate Mortgages (Remortgage)

Remortgaging and looking for a fixed deal? Here are the current best mortgage rates in the UK for 2, 3, 5 and 10 year fixed rate remortgages:

Best 2 year Fixed Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Cumberland 3.88% £999 £941 6.6% £11,792 60%
TSB 3.89% £1,504 £942 6.8% £12,058 60%
First Direct 3.90% £490 £943 6.0% £11,565 60%
Natwest 3.90% £1,454 £943 6.4% £12,047 60%
Santander 3.91% £1,058 £944 6.3% £11,863 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • If you’re remortgaging, the best 2 year fixed rate mortgage is currently from Cumberland Building Society at 3.88% (fees £999). Find more about our rates data here.
  • But when you’re looking for the best mortgage deals you’ll need to consider the overall cost including any fees. However, you don’t need to calculate this yourself – an expert mortgage broker can do this for you.

Best 3 year Fixed Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Co-Op 3.92% £749 £946 6.1% £11,597 60%
Barclays 3.95% £958 £949 5.5% £11,708 60%
Yorkshire BS 3.97% £995 £951 6.2% £11,748 60%
First Direct 3.98% £490 £953 5.9% £11,594 60%
Nationwide 3.99% £808 £954 6.1% £11,713 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • While for 3 year fixed rate mortgages in the UK, if you’re remortgaging, the best current rate is from The Co-operative Bank at 3.92%.

Best 5 year Fixed Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Halifax 3.86% £1,499 £939 7.0% £18,397 60%
Cumberland 3.98% £999 £953 6.0% £11,630 60%
Natwest 3.98% £1,454 £953 5.8% £11,721 60%
First Direct 3.99% £490 £954 5.5% £11,542 60%
Santander 4.01% £1,058 £956 5.7% £11,683 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • The best mortgage rate on a 5 year fixed rate mortgage is currently from Halifax at 3.86% (fees £1,499) for remortgages.

Best 10 year Fixed Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Nationwide 4.49% £808 £1,012 5.3% £12,227 60%
Nationwide 4.49% £808 £1,012 5.3% £12,227 75%
Santander 4.56% £1,058 £1,021 5.3% £12,352 60%
Santander 4.59% £1,058 £1,024 5.4% £12,395 75%
Nationwide 4.59% £-191 £1,024 5.4% £12,270 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025

The best mortgage rate on a 10 year fixed rate mortgage in the UK if you’re remortgaging is from Nationwide at 4.49% (fees £808).

Variable Rate Mortgages (Remortgage)

Here are the lowest mortgage rates in the UK on 2, 3, 5 and 10 year variable rate mortgages if you’re remortgaging:

Best 2 year Variable Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Halifax 4.11% £1,499 £968 6.9% £12,360 60%
Furness 4.14% £1,058 £971 7.4% £12,181 80%
Nationwide 4.19% £808 £977 6.3% £12,126 60%
Barclays 4.21% £1,058 £979 5.7% £12,279 60%
Halifax 4.23% £1,499 £982 6.9% £12,528 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • The best 2 year variable rate mortgage for remortgages is currently from Halifax at 4.11% (fees £1,499). Find more about our rates data here.
  • But remember, the rate on variable rate mortgages can go up or down. So make sure you can afford repayments if the rate you pay increases.
  • Also, when you’re looking for the best mortgage deals you’ll need to factor in any mortgage fees so that you can calculate which is the best mortgage deal overall. If you’re using a fee-free broker, they will do this for you.

Best 3 year Variable Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Newbury 4.04% £850 £959 5.6% £11,797 75%
Newbury 4.64% £850 £1,030 5.8% £12,644 85%
Newbury 4.74% £850 £1,042 5.8% £12,788 90%
Beverley BS 4.74% £-141 £1,042 6.8% £12,458 80%
Family BS 5.69% £1,158 £1,160 7.2% £14,300 60%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • While for 3 year variable rate mortgages in the UK, the best mortgage rate available currently for remortgages is from Newbury Building Society at 4.04% (fees £850).

Best 5 year Variable Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Barclays 4.60% £1,058 £1,025 5.5% £12,515 60%
Barclays 5.00% £1,058 £1,074 5.6% £13,095 85%
Barclays 5.25% £1,808 £1,104 5.7% £13,615 75%
Earl Shilton 5.54% £1,659 £1,141 6.9% £14,019 75%
Earl Shilton 5.99% £1,433 £1,198 7.1% £14,660 90%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • The best mortgage rate on a 5 year variable rate mortgage is from Halifax at 4.60% (fees £1,058) for remortgages.

Best 10 year Variable Rate Mortgage (Remortgage)

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Co-Op 4.59% £999 £1,024 6.9% £12,322 60%
First Direct 4.80% £490 £1,049 6.5% £12,608 75%
Co-Op 4.89% £999 £1,060 6.9% £12,756 75%
First Direct 4.90% £490 £1,061 6.5% £12,754 90%
First Direct 4.90% £0 £1,061 6.5% £12,737 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 21 Oct 2025
  • If you want to take out a longer-term variable rate deal, the best remortgage rate on a 10 year variable rate mortgage in the UK is currently from The Co-operative Bank at 4.59% (fees £999).

Buy to Let Mortgages

Whether you’re buying an investment property or remortgaging a Buy to Let you already own, here are the best mortgage rates on Buy to Let mortgages currently available.

Fixed Rate Buy to Let Mortgages

Here are the best mortgage rates for 2, 3, 5 and 10 year fixed rate Buy to Let mortgages.

Best 2 year Fixed Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
CHL Mortgages 2.30% £14,400 £770 7.7% £16,435 75%
CHL Mortgages 2.43% £14,150 £783 7.7% £16,471 75%
Zephyr 2.49% £14,515 £789 7.7% £16,728 75%
CHL Mortgages 2.80% £12,400 £822 7.8% £16,061 75%
Vida Homeloans 2.92% £10,505 £835 7.8% £15,268 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The best 2 year fixed rate Buy to Let mortgage is currently from CHL Mortgages at 2.30% – but it comes with a huge arrangement fee of 7%.
  • When you’re looking for the best mortgage deals you’ll need to factor in any fees so that you can calculate which is the best mortgage deal overall. A fee-free broker can do this for you.

Best 3 year Fixed Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
BM Solutions 3.44% £6,100 £891 7.1% £12,730 75%
BM Solutions 4.00% £2,100 £955 7.2% £12,158 75%
BM Solutions 4.25% £1,599 £984 7.3% £12,340 75%
Accord 4.39% £1,745 £1,000 6.3% £12,586 75%
Bank of Ireland 4.50% £995 £1,013 6.5% £12,492 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • While for 3 year fixed rate Buy to Let mortgages in the UK, the best mortgage rates on offer currently is from BM Solutions at 3.44% (fees 3%).

Best 5 year Fixed Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Virgin Money 3.75% £6,000 £926 6.0% £12,315 60%
Virgin Money 3.75% £6,000 £926 6.0% £12,315 75%
The Mortgage Works 3.76% £6,000 £927 6.3% £12,328 55%
The Mortgage Works 3.76% £6,000 £927 6.3% £12,328 65%
The Mortgage Works 3.76% £6,000 £927 6.6% £12,328 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The best mortgage rate on a 5 year fixed rate Buy to Let mortgage is from Virgin Money at 3.75%.

Best 10 year Fixed Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Quantum Mortgages 6.04% £4,699 £1,204 7.2% £15,122 65%
Quantum Mortgages 6.14% £4,699 £1,217 7.3% £15,277 75%
Quantum Mortgages 6.44% £4,699 £1,256 7.4% £15,746 80%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • Rates are higher for 10 year fixed rate Buy to Let mortgages but they may suit you if you want the security of knowing what your mortgage rate will be over a longer period.
  • The best mortgage rates on a 10 year fixed rate Buy to Let mortgage in the UK is from Quantum Mortgages at 6.04%.

Variable Rate Buy to Let Mortgages

If you’re looking for a variable rate Buy to Let mortgage, here are the best Buy to Let mortgages for 2, 3, 5 and 10 year terms.

Best 2 year Variable Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
HSBC 4.27% £1,999 £986 6.9% £12,834 60%
Landbay 4.39% £10,199 £1,000 6.9% £17,104 65%
HSBC 4.42% £1,999 £1,004 6.9% £13,046 65%
Skipton 4.48% £1,495 £1,011 6.2% £12,880 60%
Fleet 4.49% £6,199 £1,012 6.6% £15,246 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The best mortgage rate on a 2 year variable rate Buy to Let mortgage is currently from HSBC at 4.27% (fees £1,999).
  • But be aware that the rate you’ll pay on a variable rate Buy to Let mortgage can go up as well as down.

Best 3 year Variable Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Newbury 4.40% £950 £1,002 5.7% £12,335 75%
Newbury 4.65% £1,500 £1,031 5.8% £12,875 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The lowest mortgage rate in the UK currently available on a 3 year variable rate mortgage is from Newbury Building Society at 4.40% (fees £950).
  • However, with variable rate mortgages, the rate you pay on your mortgage can go up or down.

Best 5 year Variable Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Newbury 4.40% £950 £1,002 5.5% £12,208 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The current best mortgage rate on a 5 year variable rate Buy to Let mortgage is from Newbury Building Society at 4.40%.
  • However, bear in mind, the rate you’ll pay on a variable rate mortgage can go up as well as down.

Best 10 year Variable Rate Buy to Let mortgage

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Co-Op 4.74% £999 £1,042 6.9% £12,538 60%
Co-Op 4.84% £999 £1,054 6.9% £12,683 65%
Co-Op 4.99% £999 £1,072 6.9% £12,902 75%
Fleet 5.25% £4,199 £1,104 7.0% £13,393 75%
Hanley Economic 5.30% £0 £1,111 8.0% £13,327 75%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • If you’re looking for a longer-term mortgage deal, the best mortgage rate in the UK currently available on a 10 year Buy to Let variable rate mortgage is from The Co-operative Bank at 4.74%.
  • However, with any variable rate mortgage, the rate you’ll pay can go up as well as down.

Other mortgage types

Here are the best mortgage rates currently available if you’re a first time buyer with a high LTV, if you’re looking for an offset mortgage or a green mortgage.

Best High LTV / First Time Buyer mortgage rates

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Bank of Ireland 4.29% £995 £989 6.7% £12,360 89%
Co-Op 4.29% £749 £989 6.4% £12,237 90%
Halifax 4.30% £1,099 £990 6.9% £12,426 90%
Lloyds 4.30% £1,199 £990 6.9% £12,476 90%
Furness 4.32% £749 £992 7.4% £12,280 90%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • Here are the best mortgage rates currently available if you have a 10% deposit (90% LTV).
  • LTV stands for ‘loan to value ratio’ and is the size of your mortgage in relation to the value of the property you’re buying. You can work out your LTV with our handy loan to value calculator.
  • However, more mortgage deals are available depending on your deposit size and mortgage term. Read our Best first time buyers mortgage rates guide – we bring you the best current mortgage rates in the UK whatever your deposit size, from 0% to 40%.

Best Offset Mortgage rates

If you’ve got savings, could you use them to offset the amount of interest you pay on your mortgage? Here are the best offset mortgage rates available this month:

Lender Initial Rate? Fees? Monthly payment? APRC? Annual Cost? Max LTV?
Yorkshire BS 4.29% £995 £989 6.5% £12,360 60%
Yorkshire BS 4.36% £995 £997 6.5% £12,459 75%
Yorkshire BS 4.44% £995 £1,006 6.0% £12,274 60%
Yorkshire BS 4.46% £995 £1,009 6.0% £12,302 75%
Yorkshire BS 4.46% £995 £1,009 6.5% £12,601 80%
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 21 Oct 2025
  • The best offset mortgage rate currently available is Yorkshire Building Society’s 2 year deal at 4.29% (fees £995).
  • Find more information on how these mortgages work in our guide Offset mortgages explained.

Best Green Mortgage rates

If you’ve looked into and then dismissed green mortgages in the past, you may want to take another look.

We’ve seen green mortgages become more competitive in recent years in the UK, often offering the best mortgage rates on the market to those who qualify for them. And we expect this direction of travel to continue.

Here’s one of the best green mortgages this month.

  • NatWest offers a 2 year fixed rate mortgage at 3.90%, available for remortgages up to 60% LTV, fees £995, free basic valuation and £350 cashback.
  • Available for properties with an Energy Performance Certificate (EPC) rating of A or B.
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Latest mortgage rate news

The trend we’ve seen in recent weeks of some lenders increasing rates on fixed deals while others cut them has continued, with Santander and HSBC tweaking some fixed mortgage rates upwards, while Skipton Building Society and Principality Building Society have nudged some rates downwards.

However, on average, fixed rate mortgage deals have got more expensive month-on-month for the first time since February, new figures show.

Average rates on two and five year fixed rate mortgage deals both rose by 0.02% to 4.98% and 5.02% respectively in October, according to Moneyfacts. While the increases are small, it’s an unwelcome direction of travel for mortgage borrowers who were hoping for rates to continue to fall this year, following the Bank of England’s interest rates cuts.

The moves come amid predictions that further interest rates cuts in the UK may be delayed due to persistent inflationary pressures.

Bank of England Governor Andrew Bailey said “we are not out of the woods yet” on inflation, so “any future cuts will need to be made gradually and carefully”.

Mortgage rate news – Expert insight

David Hollingworth from mortgage broker L&C says: “We are seeing a mixed bag of rate changes now. Plenty of rates are still being edged higher but on the plus side there have also been examples of lenders looking to improve some rates. Given the general increase in fixes over recent weeks that may just be lenders readjusting and finding the right price point, as the market steadies.”

KEY INFORMATION

How to secure the best mortgage rates

When there’s volatility in the mortgage market, it’s more important than ever to shop around for the best mortgage rates – and to act fast. If you’re remortgaging, you can do this up to 6 months in advance – and you should certainly do it by 3 months before your current deal ends.

You can apply for a mortgage and lock in a rate then keep it under review with our partners at L&C to make sure you don’t miss out on a better mortgage rate before you need to switch. Get in touch online or on the phone today to kick things off.

How to check if you’re on the best mortgage rate

The easiest way to do this is to use L&C’s Rate Check service – this free service has saved customers nearly £27 million this year to date. Plus, L&C are fee-free, unlike many brokers which charge fees that can amount to thousands of pounds. So you may save even more.

When you’re considering your remortgage options, while the mortgage rates is obviously a key factor, when you’re looking at the best mortgage rates remember to look at the whole picture including any mortgage fees so you can find the cheapest mortgage deal overall.

But don’t worry, a fee-free mortgage broker will do the calculations for you to find the best mortgage deals available.

The best mortgage rates are changing fast. For the latest deals and fee-free mortgage advice speak to award-winning mortgage brokers L&C. Start online or give them a call today

When will UK mortgage rates come down?

Experts aren’t currently expecting the best mortgage rates in the UK to come down much further in 2025 due to the reduced likelihood of a further interest rates cut this year.

But it’s very difficult to make an accurate mortgage rate forecast as this depends on numerous factors. Read more in our guide on Mortgage rate predictions.

What’s the average mortgage interest rates?

  • On 18 October 2025, the average 2 year fixed mortgage rate at in the UK was 4.52%, which was up +0.01% on the previous week but 0.40% lower than a year ago. While the average 5 year fixed mortgage rate was 4.56%, according to figures from Rightmove.

How much is the average standard variable rate?

The average standard variable rate in October 2025 in the UK is 7.42%. The standard variable rate is the default rate you’ll roll onto when your mortgage deal ends. But SVRs vary widely by lender. For example Newcastle Building Society’s SVR is currently 6.50% while Aldermore’s SVR is 8.83%. Read more in our guide Should you ditch your Standard Variable Rate mortgage?

So while the best mortgage rates on offer this month may seem high compared to what has been available in recent years, your lender’s Standard Variable Rate (SVR) could be significantly higher.

How to find the best mortgage deals

If your current mortgage deal ends in the next six months you should act now to find the best mortgage deals. When it comes to finding the best mortgage rates this month, here’s our advice:

  • Shop around: Whether you’re remortgaging or buying a house, don’t just go to your bank for your mortgage. It’s more important than ever to shop around for the best mortgage rates. Speaking to a fee-free mortgage broker is the quickest and easiest way to find the lowest mortgage rates.
  • Act now: The best mortgage rates could disappear. But if you secure a remortgage deal several months in advance you’ll have that in the bag while keeping your eye out for other offers before your remortgage date. Speak to a fee-free broker today to explore your options.
  • Beware of the SVR: However, if you’re on your lender’s standard variable rate, check your deal now to see if you can save by remortgaging as average mortgage interest rates on SVRs have soared over the last few years.

Find the best mortgage rates with fee-free mortgage brokers L&C. Start online or give them a call today

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Common mortgage rate questions

What are mortgage rates?

  • Mortgage rates are the rate of interest charged by a mortgage lender (bank or building society). The interest is charged by the lender as compensation for the money they have lent them in order to purchase a property.
  • Interest rates are determined by the lender in most cases, and can be either fixed (ie remain the same for the term of the mortgage) or variable (where they fluctuate with a benchmark interest rate). Before you compare mortgages, you need to understand the different types. For more information see what type of mortgage should I get?

How long does a mortgage application take?

  • A mortgage application usually takes two to four weeks to process. However, factors including how busy the lender is, how straightforward your circumstances are and how quickly you respond to any requests can influence how long it takes for a mortgage to be approved. Find more information in our guide How long does it take to get a mortgage?

Should I only look at the best mortgage rates?

  • When you’re looking for the best mortgage deal, there’s more to consider than just the best mortgage rates. You’ll also need to factor in any mortgage fees like arrangement fees to make sure you get the best mortgage deal overall. But you don’t need to work this out yourself, a fee-free mortgage broker will crunch the numbers for you and find you the best mortgage deals for you.

What does APRC mean?

  • APRC stands for Annual Percentage Rate of Charge and shows, as a percentage, the annual cost of a mortgage over its lifetime. It incorporates all relevant charges (including fees) that relate to the mortgage borrowing. This is useful when comparing the best mortgage rates.
  • Find more information on APRCs on the Financial Conduct Authority website.

The best mortgage rates are changing fast. For the latest deals and fee-free mortgage advice speak to award-winning mortgage brokers L&C. Start online or give them a call today

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If the base rate changes, how does it affect my mortgage?

This depends on what type of mortgage you have.

Mortgage typeWhat happens if the base rate changes
Tracker mortgageMost trackers track the Bank of England base rate. So an increase to the base rate means your monthly mortgage payments will increase. And if the base rate decreases, so will your mortgage payments.
Discount rate mortgagesYour rate is a discount on the lender’s own standard variable rate (SVR). If the base rate changes, your lender can decide whether to pass on any or all of the increase/ decrease.  
Fixed rate mortgageNothing. You will only see a change in your repayments when your fixed term ends.
Standard variable rateYour lender sets the amount you pay. If the base rate changes the lender can decide whether to pass on any or all of the increase/ decrease. These mortgages can be extremely expensive.

Should I remortgage now?

Yes. If your current mortgage deal ends in the next 6 months, and certainly if it ends in the next 3 months, you should start the remortgage process now to secure a rate. You can then use L&C’s Rate Check service to keep the rate under review in case a better rate comes up before you need to switch.

Being ready with your next move before your current deal comes to an end also means you’ll avoid your mortgage rolling onto your lender’s Standard Variable Rate which are averaging an eye-watering 7.42%. Read our guide Should I remortgage now?

Help finding the best mortgage deals

The best mortgage deals in the UK are not only about the best mortgage rates, you need to consider whether the mortgage term is right for you, arrangement fees and more.

To get a better idea of the best mortgage for you and the cheapest mortgage rates in the UK, use the online mortgage service provided by fee-free mortgage brokers L&C.

L&C can find the best mortgage rates for you over the phone, or you can do it yourself in real-time online. Whichever you choose they can help search the market to find you the best mortgage deals available, see if you qualify and even help you apply online, doing all the legwork to get you your mortgage offer.

How much deposit do I need for a mortgage?

It’s possible to get a mortgage without a deposit, these are called 100% mortgages. But by saving a deposit of at least 5% and ideally at least 10% you’ll have access to more lenders and usually better mortgage rates too.

While the best mortgage rates are usually reserved for people with a deposit of at least 40%. This may be a cash deposit if you’re buying your first home or this could be equity in your home if you’re remortgaging.

Comparison of how deposit amount affects mortgage rates

Here’s an example of how much you’ll pay on a mortgage if you have a 40% deposit compared to if you have a 10% deposit. These examples are based on the best mortgage rates when taking out a £200,000 2 year fixed rate mortgage over 30 years.

Deposit amountBest mortgage rateMonthly mortgage payment
40%3.82%£934
10%4.29%£989
Source: L&C. 11 October 2025.

However, these examples only take into account the mortgage rate, not any fees you may pay like arrangement fees. To get a better understanding of the overall costs, speak to a mortgage broker who will crunch the numbers for you.

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Will I pay more for my mortgage in 2025

This depends on the rate you’re currently paying vs the best mortgage rates you can get today.

  • If you’re coming off a cheap fixed rate mortgage, you’ll pay more for your mortgage in 2025. In fact, more than 350,000 households who took out low cost fixed-rate mortgages five years ago during Covid are expected to see their costs jump this winter as they reach the end of their deals, according to analysis by the bill management app Nous.
  • But if this includes you, don’t put off remortgaging because your costs could shoot up by much more if you do nothing and roll onto your lender’s standard variable rate when your current deal ends.
  • You’ll pay less on your mortgage in 2025 if your current mortgage deal is ending soon and you took it out when mortgage rates were higher and you can get a better rate now.

What does LTV mean?

LTV stands for loan-to-value, and tells you what percentage of the home’s value is borrowed. The best mortgage rates are usually available to those with an LTV of 60% or lower.

Loan To Value Ratio

Fixed vs variable rate mortgages

This is how fixed rate mortgages compare to tracker mortgages, discounted variable rate mortgages and standard variable rate mortgages:

Type of mortgageHow it works
Fixed rate mortgagePay a fixed rate during your initial term, usually 2, 3, 5 or 10 years. Your monthly mortgage payments won’t increase if interest rates rise, but you won’t pay less if they fall either.
Tracker mortgagesThe rate you pay goes up and down in line with the base rate. So if the Bank of England cuts interest rates, your mortgage payments will go down. But if it hikes interest rates, your mortgage payments will go up.
Discounted variable rate mortgagesDiscounted variable rate mortgages track under the lender’s standard variable rate. So your rate may go up or down, depending on any changes the lender makes to its standard variable rate.
Standard variable rateYour lender sets the mortgage rate you pay. If the base rate changes the lender can decide whether to pass on any or all of the increase/ decrease. These mortgages can be extremely expensive.

Find the best mortgage rates with fee-free mortgage brokers L&C. Start online or give them a call today

Mortgage Finder

Get fee free mortgage advice from our partners at L&C. Use the online mortgage finder or speak to an advisor today.

Find a mortgage

Best mortgage rates methodology

At HomeOwners Alliance the best mortgage rates in our tables are from fee-free mortgage brokers L&C and updated regularly. These best mortgage rates do not take into account fees and are for illustration only. The average mortgage rate figures we use are from sources including Rightmove and Moneyfacts.

Frequently Asked Questions

Are five year fixed rate mortgages a good idea?

Five year fixed rate mortgages have the benefit of having certainty over your payments for the next five years. But it could mean you miss out on better mortgage deals in the meantime. So it’s a good idea to chat through your options with a fee-free mortgage broker – they’ll explain the best mortgage rates available too.

What is a good mortgage rate? 

On 18 October 2025, the current average mortgage interest rate on a 2 year fixed rate mortgage at 60% LTV is 3.99%. In comparison, the best mortgage rates are lower. The best rate on a 2 year fixed rate mortgage in October 2025 is Santander’s 2 year fixed rate mortgage at 3.82% (Max LTV 60%, fee £1,749). Purchases only.

Fixed or variable mortgage – which is best?

If you’re looking at the current best mortgage rates in the UK, choosing between a fixed and variable deal such as a tracker mortgage can be a tough decision when interest rates are expected to fall. Read our guide on Understanding mortgage types and what one you need.

Is my fixed rate mortgage coming to an end?

To check when your current fixed rate mortgage finishes, you’ll need to check your paperwork or contact your lender. It’s a good idea to start the remortgage process up to 6 months before the end of your current deal.

I’m selling: How do I find the best estate agent?

Start by using our Best Estate Agent Finder tool, which compares fees, the average time to sell a property like yours, how often they achieve the asking price and how successful they are at selling similar homes. You may consider using an online agent. Check out our online estate agent comparison table.

Can you apply for a mortgage before finding a house?

You can’t make a full mortgage application until you’ve had an offer accepted on a house but you can get a ‘mortgage in principle‘ before finding a house.
With mortgage brokers L&C, you can get a personalised Decision in Principle in a matter of minutes. And unlike some other lenders, it won’t impact your credit score.

How much is my house worth?

When you remortgage the lender carries out a mortgage valuation. But how do you know that paper based survey is accurate? It’s a good idea to also get your own online instant house valuation for free, and then if you’ve had work done to your home an estate agents valuation too. See how to value my property before remortgaging for more information.

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Key mortgage terms explained

Not sure what some of the terms mean? Here’s a quick guide to the most common mortgage phrases you’ll come across when comparing the best mortgage rates.

TermWhat it is
Standard Variable RateThe default rate you move onto when your mortgage deal ends. Usually higher and more expensive than a fixed mortgage or tracker deal.
ERC (Early Repayment Charge)A fee charged by lenders if you remortgage or pay off your mortgage early, or make overpayments above your allowance during your fixed term.
LTV (Loan to Value)The percentage of the property’s value you borrow. For example, a £180,000 mortgage on a £200,000 property is 90% LTV.
APRC (Annual Percentage Rate of Charge)The total annual cost of your mortgage over its lifetime, including interest and fees, expressed as a percentage. Useful for comparing the best mortgage rates.
Base rateThe interest rate set by the Bank of England.
Initial interest rateThe interest rate you’ll be charged for the set period at the start of your mortgage.
Initial rate periodThe length of your fixed or variable rate mortgage deal before you switch to the standard variable rate.
Mortgage termThe full length of your mortgage, including any introductory term.

How this site works

HomeOwners Alliance Ltd is registered in England, company number 07861605. Information provided on HomeOwners Alliance is not intended as a recommendation or financial advice.

Mortgage service provided by London & Country Mortgages (L&C), Unit 26 (2.06), Newark Works, 2 Foundry Lane, Bath BA2 3GZ, authorised and regulated by the Financial Conduct Authority (FRN: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

HomeOwners Alliance Ltd is an Introducer Appointed Representative (IAR) of LifeSearch Limited, an Appointed Representative of LifeSearch Partners Ltd, authorised and regulated by the Financial Conduct Authority. (FRN: 656479).

Independent Financial Adviser service is provided by Unbiased, who match you to a fully regulated, independent financial adviser, with no charge to you for the referral.

Bridging Loan and specialist lending service provided by Chartwell Funding Limited, registered office 5 Badminton Court, Station Road, Yate, Bristol, BS37 5HZ, authorised and regulated by the Financial Conduct Authority (FRN: 458223). Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

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