Last updated: 3 June 2026 at 13:35
Latest mortgage news: There’s some relief for borrowers as lenders make further cuts – but are more drops on the cards?
In a move that may bring some relief to borrowers, more than a dozen lenders made cuts last week, and positively, big names like Barclays Mortgage were among these.
And with the lowest fixed remortgage, homemover and first-time buyer rates dipping or holding steady since last week, the mortgage market could be looking up for borrowers. Especially as Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, commented that “the big lenders who have yet to catch up could well show their cards in the next few days”.
Read more: UK house prices dip as Middle East conflict knocks buyer confidence: Nationwide HPI
With lenders continuing to react to the volatile swap rates caused by conflict in the Middle East, Springall explained this could create “a more tolerant lean towards making further rate cuts than rises”.
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: 03/06/2026
Rate: 4.60% 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 4.60% fixed for 30 months reverting to 6.62% variable for term. 30 monthly payments of £1179.20 and 270 monthly payments of £1412.90. Total amount payable £418,338.00 includes loan amount, interest of £206,859, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 4.74% fixed until 2 September 2029 before reverting to 6.50%
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 4.74% fixed for 38 months reverting to 6.50% variable for term. 38 monthly payments of £1196.04 and 262 monthly payments of £1395.05. Total amount payable £412,556.62 includes loan amount, interest of £200,953, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
Rate: 4.59% fixed until 31 July 2031 before reverting to 6.24%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.7%
Representative example: £210,000 mortgage over 25 years initially at 4.59% fixed for 61 months reverting to 6.24% variable for term. 61 monthly payments of £1178.00 and 239 monthly payments of £1348.93. Total amount payable £395,726.27 includes loan amount, interest of £184,252, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.7% APRC representative.
The lowest two-year fix for remortgage borrowers has fallen to 4.60% this week and is offered by The Co-Operative Bank for Intermediaries. Accessible across Great Britain, this mortgage can finance up to 60% loan-to-value (LTV) and comes with a £999 arrangement fee. Its perks include a free valuation, free legal fees and an attractive £250 cashback. As the lender’s name suggests, this deal is only available from selected intermediaries.
Those with less equity could instead consider a two-year fix from first direct which charges a higher 4.79% to finance up to 75% of a property’s value. This mortgage, costing a small £490 in booking fees, is available across Great Britain and Northern Ireland directly from the lender and provides borrowers with a free valuation and free legal fees. Considering its overall value, it earns a place on our Moneyfacts Best Buy chart.
Elsewhere, the cheapest three-year fix holds steady at 4.74% (to finance a maximum LTV of 60%). This deal from Santander provides borrowers with a free valuation and a choice between £250 cashback or free legal fees. Additionally, those in England, Wales and Northern Ireland will get a free valuation. Alternatively, those in Scotland will receive £95 towards valuation fees. This mortgage must be applied for direct from Santander, or via an intermediary. All will face a £999 charge in product fees.
Alternatively, TSB offers a three-year fix to those with less equity at 4.99% which can finance a higher 85% LTV. Costing £995 in arrangement fees, borrowers will benefit from a free valuation and the option of either £300 cashback or free legal fees. Available across Great Britain, borrowers can apply for this Moneyfacts Best Buy mortgage direct from the lender or via intermediaries.
The lowest five-year fixed remortgage rate in Great Britain and Northern Ireland has dropped to 4.59% this week, to finance up to 60% LTV. Charged by HSBC, this deal comes with the perks of a free valuation and a choice between £350 cashback or free legal fees. Borrowers will need to budget for the £999 booking fee and can apply for this mortgage direct from the lender or via intermediaries.
Otherwise, the same lender offers a five-year deal at 4.74% to finance a higher 75% LTV. This mortgage earns a place on our Moneyfacts Best Buy chart and has the same features as the one above.
Last updated: 03/06/2026
Rate: 4.39% fixed until 30 September 2028 before reverting to 5.74%
Initial period: 2 years
Product fee: £899
Maximum loan-to-value: 60%
APRC: 5.6%
Representative example: £250,000 mortgage over 25 years initially at 4.39% fixed for 27 months reverting to 5.74% variable for term. 27 monthly payments of £1374.02 and 273 monthly payments of £1556.67. Total amount payable £463,098.45 includes loan amount, interest of £212,069, valuation fees of £0 and product fees of £899. The overall cost for comparison is 5.6% APRC representative.
Rate: 4.54% fixed until 31 August 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.7%
Representative example: £250,000 mortgage over 25 years initially at 4.54% fixed for 38 months reverting to 7.24% variable for term. 38 monthly payments of £1395.26 and 262 monthly payments of £1762.17. Total amount payable £515,857.42 includes loan amount, interest of £264,708, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.54% fixed until 31 August 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.7%
Representative example: £250,000 mortgage over 25 years initially at 4.54% fixed for 38 months reverting to 7.24% variable for term. 38 monthly payments of £1395.26 and 262 monthly payments of £1762.17. Total amount payable £515,857.42 includes loan amount, interest of £264,708, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.43% fixed until 31 July 2031 before reverting to 6.24%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.6%
Representative example: £250,000 mortgage over 25 years initially at 4.43% fixed for 61 months reverting to 6.24% variable for term. 61 monthly payments of £1379.67 and 239 monthly payments of £1601.48. Total amount payable £468,057.59 includes loan amount, interest of £216,914, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.6% APRC representative.
A deal from Barclays Mortgage charges the lowest two-year fixed rate for homemovers in Great Britain and Northern Ireland at 4.39% this week. This mortgage, which can finance up to 60% LTV, comes with a free valuation and costs £899 in arrangement fees. Borrowers can apply for this mortgage direct from the lender or via an intermediary.
Those looking to lock in a fix for three years will find the lowest fixed rate has fallen to 4.54% and continues to be offered on deals from Halifax and Lloyds Bank. This mortgage can finance up to 60% LTV. Available across Great Britain and Northern Ireland direct from the lenders, borrowers will be charged a £999 arrangement fee but will receive £250 cashback if their new property has an Energy Performance Certificate (EPC) rating of 81 or higher.
If homemovers need to finance a larger portion of their property, first direct offers Moneyfacts Best Buy two-year and three-year fixes at a respective 4.60% and 4.73% that have a maximum LTV of 75%. Moreover, these direct deals (available across Great Britain and Northern Ireland) come with a relatively low £490 booking fee and the perk of a free valuation.
The cheapest priced five-year fix for homemovers has dipped to 4.43% this week, following cuts. This mortgage, offered by HSBC, can finance a maximum LTV of 60%. While borrowers will face a £999 booking fee, they’ll receive the incentive of a free valuation. It’s accessible across Great Britain and Northern Ireland direct from the lender or via an intermediary. Considering its overall value, this mortgage from HSBC earns a place on our Moneyfacts Best Buy chart.
Alternatively, for those with less equity, the same provider also offers a five-year deal at a higher 4.53% to finance up to 75% LTV. Otherwise, it has the same features as the one above.
Last updated: 03/06/2026
Rate: 4.80% fixed until 31 July 2028 before reverting to 6.24%
Initial period: 2 years
Product fee: £1,499
Maximum loan-to-value: 90%
APRC: 6.2%
Representative example: £200,000 mortgage over 25 years initially at 4.80% fixed for 25 months reverting to 6.24% variable for term. 25 monthly payments of £1145.99 and 275 monthly payments of £1306.65. Total amount payable £389,727.50 includes loan amount, interest of £187,979, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.2% APRC representative.
Rate: 4.79% fixed until 31 August 2031 reverting to 7.74%
Initial period: 5 years
Product fee: £1,499
Maximum loan-to-value: 90%
APRC: 6.7%
Representative example: £200,000 mortgage over 25 years initially at 4.79% fixed for 62 months reverting to 7.74% variable for term. 62 monthly payments of £1144.84 and 238 monthly payments of £1446.24. Total amount payable £416,933.20 includes loan amount, interest of £215,185, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 6.7% APRC representative.
Rate: 5.16% fixed until 31 August 2028 before reverting to 7.74%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 7.5%
Representative example: £200,000 mortgage over 25 years initially at 5.16% fixed for 26 months reverting to 7.74% variable for term. 26 monthly payments of £1187.90 and 274 monthly payments of £1487.44. Total amount payable £439,691.96 includes loan amount, interest of £238,444, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.5% APRC representative.
Rate: 5.16% fixed until 31 September 2031 before reverting to 7.74%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 6.8%
Representative example: £200,000 mortgage over 25 years initially at 5.16% fixed for 62 months reverting to 7.74% variable for term. 62 monthly payments of £1187.90 and 238 monthly payments of £1455.13. Total amount payable £421,218.74 includes loan amount, interest of £219,971, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.8% APRC representative.
West Brom BS continues to charge the lowest two-year fixed rate of 4.80% for first-time buyers in England and Wales with a 10% deposit. Borrowers can apply for this mortgage from the lender directly, or via selected intermediaries. While it costs borrowers a hefty £1,499 in completion fees, they will receive the perk of a free valuation (up to £740).
Getting onto the property ladder can be expensive, so those looking to keep upfront costs to a minimum could explore a two-year deal from the same provider at 5.05% which doesn’t charge any additional product fees. This mortgage, which can finance up to 90% LTV, otherwise has the same features as the deal above.
Borrowers in England, Wales, mainland Scotland and Northern Ireland with a 10% deposit will find the lowest five-year fix is offered by Leeds BS and has dropped to 4.79%. Those with a smaller 5% deposit will also find that Leeds BS provides the cheapest-priced two- and five-year fixes at 5.16% across the same lending areas. These mortgages all come with a free valuation (up to a maximum of £999). The two-year fix for those financing up to 90% of their property’s value costs £1,499 in completion fees, whereas the deals for those with a 5% deposit cost a smaller £999 in arrangement fees. These mortgages can all be accessed direct from Leeds BS, or via an intermediary.
Alternatively, borrowers in Great Britain and Northern Ireland with a 10% deposit wanting to keep upfront costs low could consider a five-year fix from first direct at 4.94% which doesn’t cost borrowers additional product fees. As an extra incentive, this direct deal comes with a free valuation.
Otherwise, Virgin Money additionally charges 4.94% on a five-year fix without charging any product fees. It can finance up to 90% LTV and, like first direct’s option, provides a free valuation as an added perk. Borrowers in Great Britain and Northern Ireland can apply for this deal via an intermediary.
Those with a 5% deposit in England, Wales, mainland Scotland and Northern Ireland who want to keep upfront costs to a minimum could explore a two- or five-year fix at 5.27% and 5.24%, respectively, from Leeds BS which charge no additional product fees. What’s more, these Moneyfacts Best Buy mortgages, which can be accessed direct from the lender or via an intermediary, also come with a free valuation (up to £999).
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