Last updated: 25 February 2026 at 14:50
Latest mortgage news: Improving mortgage rates and easing lending criteria means 40% of homes are now cheaper to buy than rent.
February is set to see the highest number of new home listings in a decade and, combined with falling mortgage rates, this means the market is looking up for first-time buyers, according to Zoopla’s latest House Price Index. What’s more, Zoopla says 40% of UK homes are now cheaper to buy than rent.
“Lower mortgage rates and improved affordability of mortgages means now could very well be the best time to buy a home in recent years, especially for first-time buyers with more homes available to buy for less than the cost of renting,” Richard Donnell, Executive Director at Zoopla, commented.
While the lowest first-time buyer fixed rates have held steady this week, there have been positive drops elsewhere in the mortgage market.
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.
While we highlight the lowest rates, these aren’t always the best value once fees and incentives are factored in. If you’re unsure, it’s worth speaking to a mortgage broker for tailored advice.
Last updated: 25/02/2026
Rate: 3.68% fixed until 31 May 2028, before reverting to 6.74%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.3%
Representative example: £210,000 mortgage over 25 years initially at 3.68% fixed for 27 months reverting to 6.74% variable for term. 27 monthly payments of £1071.69 and 273 monthly payments of £1419.69. Total amount payable £418,386.00 includes loan amount, interest of £206,511, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.
Rate: 3.68% fixed until 31 May 2028, before reverting to 6.74%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.3%
Representative example: £210,000 mortgage over 25 years initially at 3.68% fixed for 27 months reverting to 6.74% variable for term. 27 monthly payments of £1071.69 and 273 monthly payments of £1419.69. Total amount payable £418,386.00 includes loan amount, interest of £206,511, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.
Rate: 3.73% fixed until 31 May 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.4%
Representative example: £210,000 mortgage over 25 years initially at 3.73% fixed for 39 months reverting to 7.24% variable for term. 39 monthly payments of £1077.39 and 261 monthly payments of £1465.94. Total amount payable £426,007.55 includes loan amount, interest of £214,629, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 3.73% fixed until 31 May 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.4%
Representative example: £210,000 mortgage over 25 years initially at 3.73% fixed for 39 months reverting to 7.24% variable for term. 39 monthly payments of £1077.39 and 261 monthly payments of £1465.94. Total amount payable £426,007.55 includes loan amount, interest of £214,629, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 3.79% fixed for five years before reverting to 6.24%
Initial period: 5 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 5.4%
Representative example: £210,000 mortgage over 25 years initially at 3.79% fixed for 60 months reverting to 6.24% variable for term. 60 monthly payments of £1084.25 and 240 monthly payments of £1330.95. Total amount payable £385,353.00 includes loan amount, interest of £174,483, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.4% APRC representative.
The cheapest-priced two-year remortgage has edged lower this week to 3.68%, following cuts from NatWest and its intermediary arm, NatWest Int Sols. NatWest has one deal at this price, while NatWest Int Sols provides two. These mortgages can finance up to 60% loan-to-value (LTV), and borrowers in Great Britain and Northern Ireland can apply direct from NatWest for its deal. All charge a sizeable £1,495 arrangement fee and provide a free valuation. The NatWest deal and one of NatWest Int Sols’ mortgages also offer the additional perk of free legal fees, while the remaining NatWest Int Sols option gives borrowers the extra incentive of £350 cashback instead.
For those with less equity, first direct offers a two-year deal that can finance up to 75% LTV at 3.83%. It comes with a much smaller £490 product fee, while also giving the incentives of a free valuation and free legal fees. This mortgage, which qualifies as a Moneyfacts Best Buy, is available in Great Britain and Northern Ireland direct from the lender.
The lowest three-year fixed remortgage rate has remained at 3.73% this week and continues to be offered by Halifax and Lloyds Bank. These deals can finance up to 60% LTV and are available to borrowers in Great Britain and Northern Ireland direct from the lenders. While they charge £999 in arrangement fees, they provide a free valuation, free legal fees and the chance to earn £250 cashback if your property has an Energy Performance Certificate (EPC) score of 81 or higher.
Alternatively, those needing a deal that can finance a larger portion of their property could consider a three-year fix from Nationwide BS which charges a slightly higher 4.05% to finance up to 85% LTV. It comes with a £999 reservation fee and offers borrowers a free valuation and a choice between £500 cashback on completion or free legal fees. This mortgage can be applied for direct from Nationwide BS by those in Great Britain and Northern Ireland (excluding the Scilly Isles), and features as a Moneyfacts Best Buy.
However, those who need a longer fix will find that first direct continues to offer the cheapest-priced five-year fix for remortgage borrowers at 3.79%. This deal finances up to 60% LTV and comes with a £490 booking fee. It also provides the perks of a free valuation and free legal fees. Remortgage borrowers in Great Britain and Northern Ireland are eligible for this mortgage and can apply direct from the lender.
Borrowers who need a loan that covers more of their home’s value could consider a Moneyfacts Best Buy five-year fix from the same provider of 3.91% that can finance up to 75% LTV and comes with similar features.
Last updated: 25/02/2026
Rate: 3.59% fixed for two years before reverting to 6.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.1%
Representative example: £250,000 mortgage over 25 years initially at 3.59% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £1263.66 and 276 monthly payments of £1656.64. Total amount payable £488,609.48 includes loan amount, interest of £237,560, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 3.69% fixed for three years before reverting to 6.49%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £250,000 mortgage over 25 years initially at 3.69% fixed for 36 months reverting to 6.49% variable for term. 36 monthly payments of £1277.18 and 264 monthly payments of £1643.19. Total amount payable £480,829.64 includes loan amount, interest of £229,781, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.
Rate: 3.69% fixed until 2 June 2029 before reverting to 6.50%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £250,000 mortgage over 25 years initially at 3.69% fixed for 39 months reverting to 6.50% variable for term. 39 monthly payments of £1277.18 and 261 monthly payments of £1640.88. Total amount payable £479,353.70 includes loan amount, interest of £228,080, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.
Rate: 3.75% fixed for five years before reverting to 6.24%
Initial period: 5 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 5.3%
Representative example: £250,000 mortgage over 25 years initially at 3.75% fixed for 60 months reverting to 6.24% variable for term. 60 monthly payments of £1285.33 and 240 monthly payments of £1583.32. Total amount payable £457,656.60 includes loan amount, interest of £207,117, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.3% APRC representative.
The lowest two-year and three-year fixed rates for homemovers remained at 3.59% and 3.69%, respectively, this week. Both the two-year and three-year deals continue to be offered by Nationwide BS and can finance up to 60% LTV. While they charge £999 in product fees, these mortgages offer the perk of a free valuation. Alongside this, those who are buying a property with an EPC rating between 86 and 89 will receive £250 cashback, with £500 given for a score of 92 or higher. Borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) are eligible to apply for this mortgage direct from Nationwide BS, or via an intermediary.
Those looking for a deal that charges no additional product fees could explore an alternative two-year fix from first direct. It charges 3.87% to finance up to 75% and additionally provides a free valuation. Homemovers in Great Britain and Northern Ireland can apply for this mortgage direct from the lender.
Another lender offering the cheapest three-year fixed rate of 3.69% is Santander. Available to homemovers in Great Britain and Northern Ireland, this deal charges a £999 arrangement fee. As incentives, this deal gives borrowers a free valuation (up to £1,190) and £250 cashback – and the deal itself, which qualifies as a Moneyfacts Best Buy, can be applied for direct or via an intermediary.
first direct continues to provide the lowest five-year mortgage for homemovers in Great Britain and Northern Ireland at 3.75%. This direct deal can finance up to 60% LTV and charges a low £490 booking fee. What’s more, it gives the incentive of a free valuation.
Alternatively, those with less equity could explore a Moneyfacts Best Buy five-year deal from the lender offering similar features, which charges 3.84% to finance up to 75% LTV.
Last updated: 25/02/2026
Rate: 3.99% fixed until 30 April 2028 before reverting to 6.24%
Initial period: 2 years
Product fee: £1,499
Maximum loan-to-value: 90%
APRC: 6.0%
Representative example: £200,000 mortgage over 25 years initially at 3.99% fixed for 26 months reverting to 6.24% variable for term. 26 monthly payments of £1054.57 and 274 monthly payments of £1298.63. Total amount payable £384,992.44 includes loan amount, interest of £183,243, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.0% APRC representative.
Rate: 4.24% fixed until 31 May 2031 before reverting to 6.24%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 5.6%
Representative example: £200,000 mortgage over 25 years initially at 4.24% fixed for 63 months reverting to 6.24% variable for term. 63 monthly payments of £1082.36 and 237 monthly payments of £1275.55. Total amount payable £371,638.03 includes loan amount, interest of £170,494, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.6% APRC representative.
Rate: 4.24% fixed until 31 May 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 5.8%
Representative example: £200,000 mortgage over 25 years initially at 4.24% fixed for 63 months reverting to 6.74% variable for term. 63 monthly payments of £1082.36 and 237 monthly payments of £1326.45. Total amount payable £383,602.33 includes loan amount, interest of £182,557, valuation fees of £0 and product fees of £995. The overall cost for comparison is 5.8% APRC representative.
Rate: 4.24% fixed until 31 May 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 5.8%
Representative example: £200,000 mortgage over 25 years initially at 4.24% fixed for 63 months reverting to 6.74% variable for term. 63 monthly payments of £1082.36 and 237 monthly payments of £1326.45. Total amount payable £383,602.33 includes loan amount, interest of £182,557, valuation fees of £0 and product fees of £995. The overall cost for comparison is 5.8% APRC representative.
Rate: 4.24% fixed until 31 May 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 5.8%
Representative example: £200,000 mortgage over 25 years initially at 4.24% fixed for 63 months reverting to 6.74% variable for term. 63 monthly payments of £1082.36 and 237 monthly payments of £1326.45. Total amount payable £383,677.33 includes loan amount, interest of £182,557, valuation fees of £75 and product fees of £995. The overall cost for comparison is 5.8% APRC representative.
Rate: 4.24% fixed until 1 June 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 5.7%
Representative example: £200,000 mortgage over 25 years initially at 4.24% fixed for 63 months reverting to 6.74% variable for 21 months and 6.49% variable for term. 63 monthly payments of £1082.36, 21 monthly payments of £1326.45 and 216 monthly payments of £1302.59. Total amount payable £378,551.57 includes loan amount, interest of £177,404, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.7% APRC representative.
Rate: 4.49% fixed until 30 June 2028 before reverting to 6.62%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 6.4%
Representative example: £200,000 mortgage over 25 years initially at 4.49% fixed for 28 months reverting to 6.62% variable for term. 28 monthly payments of £1110.53 and 272 monthly payments of £1345.84. Total amount payable £398,312.32 includes loan amount, interest of £197,163, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 4.66% fixed until 31 May 2031 before reverting to 7.34%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 95%
APRC: 6.4%
Representative example: £200,000 mortgage over 25 years initially at 4.66% fixed for 63 months reverting to 7.34% variable for term. 63 monthly payments of £1129.91 and 237 monthly payments of £1399.24. Total amount payable £403,934.21 includes loan amount, interest of £202,804, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.4% APRC representative.
First-time buyers with a 10% deposit will find that the cheapest-priced two-year mortgage hasn’t moved this week and is still offered by a deal from West Brom BS. Charging 3.99%, it’s available to those in England and Wales both direct from West Brom BS and via selected intermediaries. While borrowers will face a £1,499 completion fee, they get the incentive of a free valuation (up to £740).
Alternatively, borrowers in Great Britain and Northern Ireland could consider one of the next-lowest two-year fixes from Yorkshire Building Society which can finance up to 90% LTV at 4.04%. It comes with a £995 completion fee but gives the perk of a free valuation. Those who are eligible can apply for this deal directly from Yorkshire Building Society.
For those with a 10% deposit looking for a longer fix of five years, the lowest-priced mortgage in this sector is now offered by five lenders but has remained at 4.24% this week. Virgin Money is one of them, and first-time buyers in Great Britain and Northern Ireland can apply for its deal direct or via an intermediary. It charges a £999 arrangement fee but provides borrowers with the perk of a free valuation.
Elsewhere, HSBC also offers first-time buyers a five-year fix that can finance up to 90% LTV at 4.24%. Borrowers in Great Britain and Northern Ireland can apply direct from HSBC or via selected intermediaries, and, although they face a £999 booking fee, will receive a free valuation as well as an attractive £750 in cashback.
Comparatively, NatWest and its intermediary arm NatWest Int Sols have two deals each at 4.24%. Additionally, Royal Bank of Scotland (RBS) offers two deals at the same rate, with all able to finance up to 90% LTV. These mortgages charge a £995 product fee and come with a free valuation, with one deal from each lender also providing £250 cashback. The NatWest mortgages can be applied for direct from the lender while the NatWest Int Sols deals should be applied for via an intermediary (both are available to borrowers in Great Britain and Northern Ireland). Meanwhile, the RBS mortgages can be found direct from the lender in Great Britain, the Channel Islands and the Isle of Man.
First-time buyers with a 5% deposit can still find the cheapest-priced two-year fix of 4.49% from The Co-operative Bank for Intermediaries. Available in Great Britain, borrowers will need to budget for the £999 arrangement fee but will receive a free valuation and £250 cashback. As the lender’s name implies, this mortgage can be applied for via selected intermediaries.
First-time buyers with a 5% deposit will also still find the lowest-priced five-year mortgage from Leek Building Society. Continuing to charge 4.66%, this deal provides the perk of a free valuation, but borrowers should bear in mind they will need to budget for the £995 completion fee. Those in England and Wales can apply for this mortgage direct from Leek Building Society or via an intermediary.
Those looking to save on upfront costs could explore a two-year or five-year Moneyfacts Best Buy from HSBC of 4.74% and 4.79% respectively which don’t charge any product fees. They can finance up to 95% LTV and come with the additional perks of a free valuation and £1,000 and £1,500 cashback, respectively. Borrowers in Great Britain and Northern Ireland can apply for these mortgages direct from the lender or via selected intermediaries.
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