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April 29, 2025
We polled 2000 UK adults, including homeowners, mortgage holders and aspiring homeowners to find out how they expect mortgage rates to change in the next 12 months – whether they expect them to go up, stay the same or fall.
Overall there is a degree of uncertainty about mortgage rate expectations this year. Among UK adults overall, more than a third (37%) think mortgage rates will rise, 25% think they will stay the same, 16% think they will fall and 22% just don’t know.
“That more than a third of the public are bracing for further mortgage rate rises shows how fragile confidence remains. Uncertainty over the economic climate and what’s coming next does nothing for consumer confidence.” says Paula Higgins, CEO at the property advice website HomeOwners Alliance. “While the Bank of England weighs up its next move, millions are stuck in limbo, unsure whether to fix their mortgage now or hold out for a potential drop in rates.”
With the base rate decision imminent, this insight offers a snapshot of public sentiment, highlighting the broader anxiety that surrounds mortgage affordability today. Our advice to homeowners is to keep their mortgage under review. Check the date you’re due to remortgage. If it’s in the next six months, start the search now, lock in the best rate and keep this under review. Speak to a fee-free mortgage broker at our partners L&C. They can search from 95 lenders to find the best deal for you.
Get fee-free remortgage advice from our partners at L&C. Use the online remortgage finder or speak to an advisor today.
When it comes to first-time buyers, Paula Higgins adds,
It’s particularly worrying that those aspiring to own their first home are least optimistic about mortgage rates with almost half (49%) expecting mortgage rates to rise vs 37% overall. All the doom and gloom around the economy is actually clouding what is an improving mortgage market. First time buyers should explore their options; check what rates are doing.
We keep our Mortgage Rate Predictions page regularly updated. And work out how much you can afford to borrow by speaking to a fee free mortgage broker for advice on your mortgage options.
Get fee free mortgage advice from our partners at L&C. Use the online mortgage finder or speak to an advisor today.
There are no significant differences regionally in terms of expectations for mortgage rates in the UK. See the table for a summary of mortgage rate expectations among the UK population overall and split by region.
| Expect rates to: | Rise | Stay the same | Fall | Don’t know |
| Total UK adults | 37% | 25% | 16% | 22% |
| Scotland | 30% | 24% | 20% | 25% |
| Wales | 41% | 16% | 19% | 23% |
| North of England | 40% | 21% | 17% | 22% |
| Midlands | 39% | 28% | 14% | 19% |
| East of England | 36% | 25% | 13% | 26% |
| South of England | 34% | 29% | 16% | 22% |
| London | 34% | 24% | 21% | 21% |
March 25, 2025 
