This week's top mortgage deals explained

Last updated: 11 February 2026 at 14:30

Latest mortgage news: Some of the lowest fixed mortgage rates edge higher as market uncertainty impacts pricing.

Any mortgage borrower eagerly waiting for interest rates to fall further before locking into a new fixed deal might have been left disappointed after the Bank of England last week voted to maintain the base rate at its current level of 3.75%. However, it’s important to remember that lenders need to consider a variety of factors – not just the UK’s central interest rate - when setting their pricing.

“Wider market uncertainty is starting to impact mortgage rate setting. Swap rates have been on the rise over recent weeks, which can lead to a pause in any substantial cuts by lenders,” explained Rachel Springall, Finance Expert at Moneyfactscompare.co.uk. She added that “some lenders may even increase rates” if they initially priced borrowing costs too low. This is reflected in this week’s lowest fixed mortgage rates – some of which have seen marginal increases.

While there are still expectations for interest rates to come down this year, there can never be any guarantees. Borrowers may find it more cost-effective to secure a new deal sooner rather than later – particularly if they’re currently paying an expensive Standard Variable Rate (SVR).

See below for the lowest fixed mortgage rates for remortgage borrowers, homemovers and first-time buyers. Alternatively, go to our charts to discover current mortgage rates UK lenders offer.

The best remortgage rates

There’s been a slight uptick in the cheapest-priced two-year fixed deal available to remortgage borrowers this week after some lenders raised interest rates. As a result, the lowest rate in the sector now stands at 3.69% and can be found from three lenders – including a deal from Santander. Available direct or via intermediaries throughout Great Britain and Northern Ireland, it costs £999 in arrangement fees and can finance up to 60% loan-to-value (LTV). As well as the choice between £250 cashback and free legal fees, borrowers in England, Wales and Northern Ireland will additionally receive a free valuation, while those in Scotland get £95 towards the cost of a valuation.

Mortgages available direct from Halifax and Lloyds Bank similarly charge the lowest two-year fixed rate of 3.69% to finance up to 60% of a property. These deals also cost £999 in arrangement fees and have lending areas that span Great Britain and Northern Ireland. In addition to a free valuation, those whose properties have an Energy Performance Certificate (EPC) score of 81 or more will get £250 cashback as a green incentive.  Furthermore, Halifax also provides remortgage borrowers with the lowest three-year fixed rate this week (which has dipped to 3.73% after the lender made cuts). It comes with many of the same features as its shorter-term counterpart; visit our chart for more information.

Nevertheless, those with less equity will need to explore other options. A three-year fixed deal from Skipton BS may appeal to those still on the early rungs of the property ladder as it can finance up to 90% LTV at 4.34%. Borrowers in Great Britain can apply for this mortgage direct or via intermediaries and won’t face any additional product fees. They’ll also receive a free valuation and free legal fees as further incentives. When considering these factors, it earns a place on our Moneyfacts Best Buy chart based on its overall true cost.

Meanwhile, remortgage borrowers who want to lock in a fixed rate for longer can continue to find the cheapest-priced five-year fix from first direct this week. It offers a deal that can finance up to 60% LTV at 3.79% and which costs a below average £490 in booking fees. Accessible direct from the lender by those living in Great Britain and Northern Ireland, this mortgage comes with a free valuation and free legal fees as sweeteners.

Alternatively, another five-year fixed deal from first direct can finance a larger portion of a property – up to 75% LTV – at 3.91% and lands a place on our Moneyfacts Best Buy chart. It comes with many of the same features – including a free valuation and free legal fees as incentives, a £490 booking fee and a lending area that covers Great Britain and Northern Ireland.

The best mortgage rates for homemovers

Santander has become the sole lender charging homemovers the lowest two-year fixed rate this week, which continues to sit at 3.55%. While it also now offers the cheapest three-year fixed rate in the sector, bear in mind this has jumped to 3.69% following increases from other mortgage providers. Both deals can be applied for directly or via intermediaries by borrowers in Great Britain and Northern Ireland and can finance up to 60% LTV. They cost £999 in arrangement fees and include a free valuation (up to £1,190) as well as £250 cashback as incentives; based on these factors, they occupy spots on our Moneyfacts Best Buy charts.

However, those who want to save on upfront costs could consider two-year and three-year fixed deals from first direct that also appear on our Moneyfacts Best Buy chart. These can finance up to 75% LTV at 3.70% and 3.86% respectively and cost just £490 in booking fees. Borrowers in Great Britain and Northern Ireland can apply for either option directly from the lender and will receive a free valuation as a perk.

What’s more, first direct also provides homemovers with the lowest five-year fixed rate which has risen slightly to 3.75% this week. This deal can finance up to 60% LTV and, like those previously mentioned, costs £490 in booking fees. Once again, borrowers in Great Britain and Northern Ireland can apply for this mortgage directly and will get a free valuation; it also features on our Moneyfacts Best Buy chart based on its overall true cost.

For a Moneyfacts Best Buy alternative that can finance a large portion of a property, homemovers could instead consider a five-year fixed deal from the lender’s sister brand, HSBC, which caters for up to 90% LTV at 4.19%. Despite costing a higher £999 in booking fees, this mortgage includes a free valuation and £350 cashback as incentives. It can be found direct or via selected intermediaries by borrowers in Great Britain and Northern Ireland.

The best first-time buyer mortgages

The lowest two-year fixed rate available to first-time buyers with a 10% deposit dropped below 4.00% this week and can now be found from West Brom BS. This deal, charging 3.99%, can be accessed by borrowers in England and Wales either direct or via selected intermediaries and includes a free valuation (up to a maximum of £740). However, as it costs a substantial £1,499 in completion fees, those wanting to keep upfront costs to a minimum could consider another two-year fixed deal from the lender which can finance up to 90% LTV at 4.19% and comes with no additional product fees. Otherwise, it has many of the same features; head to our chart for more information.

By contrast, the lowest five-year fixed rate for first-time buyers with a 10% deposit inched higher to 4.17% this week. Borrowers in Great Britain and Northern Ireland will find this rate offered by a deal from Barclays Mortgage – either direct or via intermediaries. It costs £899 in arrangement fees but includes a free valuation as its sole incentive.

Instead, those wanting access to a greater range of perks may want to explore a five-year fixed deal from HSBC which is among those charging the next lowest rate of 4.24% to finance up to 90% LTV. As well as a free valuation, it offers £750 cashback – which could help cover moving costs or furnishing your first home. Borrowers in Great Britain and Northern Ireland can apply for this deal either direct or via selected intermediaries but should note it comes with a slightly more expensive booking fee of £999.

Meanwhile, The Co-operative Bank for Intermediaries continues to offer the lowest two-year fixed rate to first-time buyers with a 5% deposit – albeit at a slightly higher 4.49% this week. As the lender’s name suggests, borrowers in Great Britain can only access this deal via selected intermediaries. It costs £999 in arrangement fees and includes both a free valuation and £250 cashback as incentives.

It’s also possible for first-time buyers to secure a fixed rate for five years with a 5% deposit. A ‘broker exclusive’ mortgage from Clydesdale Bank still charges the cheapest rate in this sector, at 4.53%. Available throughout Great Britain, this deal comes with a substantial £1,499 arrangement fee and a free valuation as its only extra perk.

However, it’s important to remember that the cheapest-priced deal may not be the most cost-effective for your needs and circumstances. First-time buyers may instead want to explore other options – such as two- and five-year fixed deals from HSBC which can finance up to 95% LTV at 4.74% and 4.79%, respectively, and continue to feature on our Moneyfacts Best Buy chart. Both are available to borrowers in Great Britain and Northern Ireland either direct or via selected intermediaries and come with no additional product fees. What’s more, they offer £1,000 and £1,500 cashback, respectively, as a well as a free valuation.