As a mortgage price war heats up, 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.
A mortgage price war has broken out, with Nationwide the latest lender to cut mortgage rates, with the lowest 2 year fix now available since 2022.
The moves come in response to market interest rate expectations: while the Bank of England held interest rates at 4% on 6 November, it’s now considered more likely than not to cut interest rates in December.
However, 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.
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:
But when you’re comparing the best mortgage deals, you’ll need to factor in any fees so that you can calculate which is the best mortgage deal overall. But don’t worry, you don’t need to do this yourself – a fee-free broker can do this for you.
2 year fixed rate mortgages are one of the most common mortgage types that buyers take out. Find out more about what you should consider in our guide What time of mortgage should I get?
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 2025
Looking for a 3 year fixed deal? The best 3 year fixed rate mortgages in the UK if you’re buying a house are from Santander (fees £749) which offers a rate of 3.80%.
But don’t just look at rates, remember to factor in any mortgage fees so you can calculate the best deal overall. An expert mortgage broker can crunch the numbers for you.
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:
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 2025
If you’re looking for a 3 year variable rate mortgage, the best mortgage rate is currently from Newbury Building Society at 4.04% (fees £850). However, the rate you’ll pay on a variable rate mortgage can go up as well as down. So make sure you have room in your budget in case the rate you pay increases.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 2025
Looking to take out a 5 year variable rate mortgage? The lowest rate if you’re buying a house is from Barclays at 4.60% (fees £999). But remember, the rate you’ll pay on a variable rate mortgage can go up or down.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 2025
Want to take out a variable rate mortgage over a longer term? The lowest mortgage rate in the UK on a 10 year variable rate mortgage if you’re buying a house is from The Co-operative Bank at 4.59% (fees £999). However, the rate you’ll pay on a variable rate mortgage can go up or down.
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.
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 7 Nov 2025
If you’re remortgaging, the best 2 year fixed rate mortgage is currently from NatWest at 3.86% (fees £1,454). 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 7 Nov 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 7 Nov 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).
Source: L&C. Figures based on a £200,000 repayment mortgage (remortgage) over 30 years. Updated: 7 Nov 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).
Whether you’re buying an investment property or remortgaging a Buy to Let property 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 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.
Source: L&C. Figures based on a £200,000 repayment mortgage (purchase) over 30 years. Updated: 7 Nov 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:
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 5 year fixed rate mortgage at 3.90%, available for purchases up to 60% LTV, with a £995 fee and free basic valuation.
Available for properties with an Energy Performance Certificate (EPC) rating of A or B.
Find out what size mortgage you’ll need based on your income
Latest mortgage rate news
There are positive signs for mortgage rates in November 2025 as a mortgage price war broke out, due to predictions that interest rates may be cut sooner than previously expected.
While the Bank of England held interest rates at 4% in November, markets have priced in a two in three chance of an interest rate cut before the end of the year.
Barclays, HSBC, NatWest, Halifax and Santander were among the first to announced rates cuts across some fixed rate mortgage deals.
While on 4 November, Nationwide announced rate reductions of up to 0.25 percentage points for new and existing customers, with the lender’s lowest mortgage rate a 2 year fix at 3.64% (max LTV 60%, fee £1,499)
The last time there was a widely available two-year fix lower than this was in September 2022, according to Moneyfacts, when rates accelerated after the Liz Truss-Kwasi Kwarteng mini-Budget.
However, this rate requires a minimum loan of £300,000; the standard deal for smaller loans is 3.69%, which has a lower fee of £999.
This mortgage price war may be good timing for the 350,000 households coming to the end of their 5 year fixed rate mortgage deal by the end of the year, according to figures from L&C.
Mortgage rate news – Expert insight
David Hollingworth from mortgage broker L&C says: “We have already seen some positive signs with swap rates falling further. These are a good indicator of the cost to lenders when pricing their fixed rate deals and Barclays announced that it would be trimming some fixed rates for buyers. If there’s a sustained drop in funding costs that should give lenders the chance to cut fixed rates and we know that once big lenders make a move, others will generally follow to keep up.”
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 rate 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.
Experts are currently predicting that mortgage rates may fall further in 2025, due to the increased likelihood of a further interest rate cut this year.
On 30 October 2025, the average 2 year fixed mortgage rate in the UK was 4.48%, which was down +0.04% on the previous week and 0.44% lower than a year ago. While the average 5 year fixed mortgage rate was 4.52%, according to figures from Rightmove.
How much is the average standard variable rate?
The average standard variable rate in November 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.
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.
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.
Most 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 mortgages
Your 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.
Your 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.
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.
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.
Pay 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 mortgages
The 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 mortgages
Discounted 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 rate
Your 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.
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 30 October 2025, the current average mortgage interest rate on a 2 year fixed rate mortgage at 60% LTV is 3.90%. In comparison, the best mortgage rates are lower. The best rate on a 2 year fixed rate mortgage in November 2025 is NatWest’s 2 year fixed rate mortgage at 3.64% (Max LTV 60%, fee £1,495).
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.
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.
The interest rate you’ll be charged for the set period at the start of your mortgage.
Initial rate period
The length of your fixed or variable rate mortgage deal before you switch to the standard variable rate.
Mortgage term
The full length of your mortgage, including any introductory term.
Representative example: A mortgage of £237,767 payable over 24 years, initially on a fixed rate until 30/09/27 at 5.19% and then on a variable rate of 6.24% for the remaining 22 years would require 26 payments of £1,445.40 followed by 262 payments of £1,583.81. The total amount payable would be £453,653 made up of the loan amount plus interest (£214,772) and fees (£1,114). The overall cost for comparison is 6.1% APRC representative.
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Alliance is not intended as a recommendation or financial advice.
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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
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Independent Financial Adviser service is provided by Unbiased, who match you to a fully regulated, independent
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