Last updated: 15 July 2026 at 14:50
Latest mortgage news: Some of the lowest fixed mortgage rates continue to fall this week, but how long will this trend last?
Several lenders made cuts on their range of fixed mortgage products over the past week, causing some of the lowest rates to fall further.
This continues the trend seen over recent weeks and months, with the latest Moneyfacts UK Mortgage Trends Treasury Report revealing that the average two- and five-year fixed mortgage rates plummeted by 0.16 and 0.11 percentage points, respectively, between the start of June and the start of July. This was the largest monthly fall recorded since October 2024.
Read more: Mortgage rates drop by biggest margin in almost two years
“Borrowers will breathe a sigh of relief to see fixed mortgages falling at their fastest pace for almost two years,” Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, commented.
However, although “lenders responded positively to falling swap rates in June”, as reflected by the lower mortgage rates, Springall warns that “this positive trajectory could be thrown off course, as renewed escalation in geopolitical tensions could slow the tempo of mortgage rate cuts”.
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: 15/07/2026
Rate: 4.41% fixed until 31 December 2028 before reverting to 6.62%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.4%
Representative example: £210,000 mortgage over 25 years initially at 4.41% fixed for 29 months reverting to 6.62% variable for term. 29 monthly payments of £1156.55 and 271 monthly payments of £1411.49. Total amount payable £417,532.74 includes loan amount, interest of £206,054, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 4.53% fixed until 31 December 2029 before reverting to 6.62%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.2%
Representative example: £210,000 mortgage over 25 years initially at 4.53% fixed for 41 months reverting to 6.62% variable for term. 41 monthly payments of £1170.83 and 259 monthly payments of £1403.88. Total amount payable £413,087.95 includes loan amount, interest of £201,609, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
Rate: 4.46% fixed until 31 October 2031 before reverting to 6.80%
Initial period: 5 years
Product fee: £1,499
Maximum loan-to-value: 65%
APRC: 6.0%
Representative example: £210,000 mortgage over 25 years initially at 4.46% fixed for 63 months reverting to 6.80% variable for term. 63 monthly payments of £1162.49 and 237 monthly payments of £1404.79. Total amount payable £408,116.10 includes loan amount, interest of £196,172, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.0% APRC representative.
The lowest two-year and three-year fixed remortgage rates edged lower this week to 4.41% and 4.53%, respectively, after The Co-operative Bank for Intermediaries made cuts. Homeowners in Great Britain can apply for these deals via selected intermediaries to finance up to 60% of their property, but they will need to factor in the cost of the £999 product fee. As additional incentives, these deals come with a free valuation, free legal fees and £250 cashback.
Principality BS continues to offer the lowest five-year fixed remortgage rate of 4.46% to borrowers in England and Wales. Its deal has a maximum loan-to-value (LTV) of 65%, charges a sizeable arrangement fee of £1,499 and has the perk of a free valuation. It can be accessed from the lender directly or via an intermediary.
If borrowers need a deal with a higher LTV, first direct offers a two-year fix at 4.57% and a five-year fix at 4.62% that can finance up to 75% of your property. Featuring as Moneyfacts Best Buys, based on their overall value and true cost, they charge a £490 product fee and come with the incentives of a free valuation and free legal fees. They are available across Great Britain and Northern Ireland and can be found by applying via the lender directly.
Or, for a three-year fixed remortgage deal that can finance up to 85% LTV, TSB offers a Moneyfacts Best Buy deal at 4.74% which borrowers in Great Britain can apply for from TSB directly or via an intermediary. They will need to pay an arrangement fee of £995 but will receive the benefits of a free valuation and a choice between free legal fees or £300 cashback.
Last updated: 15/07/2026
Rate: 4.24% fixed for two years before reverting to 6.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.3%
Representative example: £250,000 mortgage over 25 years initially at 4.24% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £1352.95 and 276 monthly payments of £1664.13. Total amount payable £492,819.68 includes loan amount, interest of £241,771, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 4.34% fixed for three years before reverting to 6.49%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.1%
Representative example: £250,000 mortgage over 25 years initially at 4.34% fixed for 36 months reverting to 6.49% variable for term. 36 monthly payments of £1366.97 and 264 monthly payments of £1654.33. Total amount payable £487,003.04 includes loan amount, interest of £235,954, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 4.29% fixed until 2 October 2031 before reverting to 6.50%
Initial period: 5 years
Product fee: £1,499
Maximum loan-to-value: 60%
APRC: 5.8%
Representative example: £250,000 mortgage over 25 years initially at 4.29% fixed for 62 months reverting to 6.50% variable for term. 62 monthly payments of £1359.95 and 238 monthly payments of £1629.82. Total amount payable £473,988.06 includes loan amount, interest of £222,214, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 5.8% APRC representative.
There’s been no change to the lowest fixed mortgage rates for homemovers this week as Nationwide BS continues to offer the cheapest-priced two-year fixed deal and three-year fixed deal at 4.24% and 4.34%, respectively. Available across Great Britain and Northern Ireland (excluding the Isles of Scilly), these deals can finance up to 60% LTV and charge a product fee of £999, with the three-year option featuring as a Moneyfacts Best Buy. These mortgages may particularly appeal to those buying an energy-efficient home because, as well as a free valuation, they offer a “Green” cashback reward of £250 for properties with an Energy Performance Certificate (EPC) rating of 86 to 91, or £500 for those with a score of 92 or higher. Borrowers can apply for these deals from the lender directly or through an intermediary.
Alternatively, homemovers in Great Britain and Northern Ireland who need a two-year deal with a higher maximum LTV could consider a Moneyfacts Best Buy from Yorkshire Building Society at 4.37% that can finance up to 75% of a property purchase. It comes with a £995 product fee and the perk of a free valuation and can be applied for from the lender directly.
If borrowers would prefer a three-year fixed deal that can finance up to 75% LTV, Santander offers a Moneyfacts Best Buy mortgage at 4.55% that is available across Great Britain and Northern Ireland. While it charges a £999 arrangement fee, this deal also has the incentives of a free valuation (up to £1,190) and £250 cashback. The mortgage can be accessed from Santander directly or through an intermediary.
For a longer fixed term, the lowest five-year fixed mortgage rate remains at 4.29% and is offered by a deal from Santander. This mortgage comes with a hefty arrangement fee of £1,499 but borrowers will also receive the benefits of a free valuation (up to £1,190) and £250 cashback. Homeowners in Great Britain and Northern Ireland can apply for this deal from the bank directly or via an intermediary to finance up to 60% of their property purchase.
If homemovers want to cut down on upfront costs, Nationwide BS offers a five-year fixed deal at 4.39% that doesn’t charge any product fees. It can finance up to 60% LTV and comes with the perk of a free valuation, as well as £250 cashback for those buying a property with an EPC score between 86 and 91, or £500 cashback if it has a score of 92 or higher. Featuring as a Moneyfacts Best Buy, this mortgage is available to borrowers in Great Britain and Northern Ireland (excluding the Isles of Scilly) who apply via the lender directly or an intermediary.
Last updated: 15/07/2026
Rate: 4.62% fixed until 1 September 2028 before reverting to 6.74%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 6.4%
Representative example: £200,000 mortgage over 25 years initially at 4.62% fixed for 25 months reverting to 6.74% variable for 59 months and 6.49% variable for term. 25 monthly payments of £1125.33, 59 monthly payments of £1363.24 and 216 monthly payments of £1338.72. Total amount payable £398,875.93 includes loan amount, interest of £197,728, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 4.62% fixed until 31 October 2028 before reverting to 6.24%
Initial period: 2 years
Product fee: £1,499
Maximum loan-to-value: 90%
APRC: 6.1%
Representative example: £200,000 mortgage over 25 years initially at 4.62% fixed for 27 months reverting to 6.24% variable for term. 27 monthly payments of £1125.33 and 273 monthly payments of £1304.02. Total amount payable £388,130.37 includes loan amount, interest of £186,381, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.1% APRC representative.
Rate: 4.61% fixed until 30 September 2031 before reverting to 7.74%
Initial period: 5 years
Product fee: £1,499
Maximum loan-to-value: 90%
APRC: 6.6%
Representative example: £200,000 mortgage over 25 years initially at 4.61% fixed for 62 months reverting to 7.74% variable for term. 62 monthly payments of £1124.19 and 238 monthly payments of £1441.81. Total amount payable £414,598.56 includes loan amount, interest of £212,851, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.61% fixed for five years before reverting to 6.49%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 5.9%
Representative example: £200,000 mortgage over 25 years initially at 4.61% fixed for 60 months reverting to 6.49% variable for term. 60 monthly payments of £1124.19 and 240 monthly payments of £1311.46. Total amount payable £383,250.80 includes loan amount, interest of £182,202, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.
Rate: 4.61% fixed until 1 September 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 5.9%
Representative example: £200,000 mortgage over 25 years initially at 4.61% fixed for 61 months reverting to 6.74% variable for 23 months and 6.49% variable for term. 61 monthly payments of £1124.19, 23 monthly payments of £1336.73 and 216 monthly payments of £1312.69. Total amount payable £384,009.42 includes loan amount, interest of £182,861, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.
Rate: 5.03% fixed until 31 December 2028 before reverting to 6.62%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 6.5%
Representative example: £200,000 mortgage over 25 years initially at 5.03% fixed for 29 months reverting to 6.62% variable for term. 29 monthly payments of £1172.68 and 271 monthly payments of £1350.72. Total amount payable £401,201.84 includes loan amount, interest of £200,053, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.
Rate: 5.01% fixed until 30 September 2031 before reverting to 7.34%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 95%
APRC: 6.5%
Representative example: £200,000 mortgage over 25 years initially at 5.01% fixed for 62 months reverting to 7.34% variable for term. 62 monthly payments of £1170.35 and 238 monthly payments of £1408.47. Total amount payable £408,907.56 includes loan amount, interest of £207,778, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.5% APRC representative.
For first-time buyers with a 10% deposit, the lowest two-year and five-year fixed rates have stayed at 4.62% and 4.61%, respectively, this week and are offered by multiple lenders. For example, Virgin Money offers two- and five-year deals at these rates which are available to borrowers across Great Britain and Northern Ireland who need to finance up to 90% LTV. These mortgages can only be found by applying via an intermediary and come with a £999 arrangement fee and the incentive of a free valuation.
West Brom BS also offers a two-year deal at 4.62% that has a maximum LTV of 90%. Borrowers in England and Wales can apply for this mortgage from the lender directly or via intermediaries, but they will need to pay a hefty product fee of £1,499. This deal has the perk of a free valuation (up to £740).
Alongside Virgin Money, Leeds BS and Nationwide BS offer five-year fixed deals at 4.61% that can finance up to 90% LTV. The deal from Leeds BS is available to borrowers in England, Wales, mainland Scotland and Northern Ireland who apply via the lender directly or an intermediary. It comes with a hefty £1,499 product fee and the incentive of a free valuation (up to £999).
Charging the same 4.61% are two five-year fixed deals from Nationwide BS. One is a standard mortgage, but the other is a Helping Hand deal that is designed to help first-time buyers borrow more to be able to afford to buy a home. Both options charge a product fee of £999 and are available to first-time buyers in Great Britain and Northern Ireland (excluding the Isles of Scilly) who apply via the lender or an intermediary. As well as a free valuation and £500 cashback, they offer an additional £250 cashback for those buying a property with an EPC rating of 86 to 91, or a higher £500 if it has a score of 92 or above.
Meanwhile, the lowest two-year fixed rate for first-time buyers with a 5% deposit dropped this week to 5.03% after The Co-operative Bank for Intermediaries made cuts. Borrowers in Great Britain can access this deal by applying via selected intermediaries. This deal charges a £999 arrangement fee and comes with the incentives of a free valuation and £250 cashback.
Alternatively, first-time buyers with a 5% deposit who would prefer a two-year fix without any product fees could consider a Moneyfacts Best Buy option from Barclays Mortgage. Charging 5.11%, this deal comes with a free valuation and is available across Great Britain and Northern Ireland from the lender directly or through an intermediary.
Leek Building Society continues to offer the lowest five-year fixed rate of 5.01% on mortgages that can finance up to 95% LTV. Available in England and Wales from the lender directly or via intermediaries, this deal charges a £995 product fee and comes with the perk of a free valuation.
First-time buyers with a 5% deposit who would prefer a mortgage that offers an attractive cashback incentive to help with the many costs of buying a home could consider a Moneyfacts Best Buy deal from HSBC. It charges 5.23% and, as well as not charging any product fees, it comes with a competitive £1,500 cashback perk and a free valuation. This mortgage is available across Great Britain and Northern Ireland and can be accessed from HSBC directly or via selected intermediaries.
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