Last updated: 20 May 2026 at 15:30
Latest mortgage news: While some of the lowest fixed mortgage rates have dipped this week, those remortgaging could face thousands of pounds more in repayments.
Despite fixed residential mortgage rates beginning to drop, longer-term remortgage borrowers are being warned their repayments could spike significantly as the market deals with the fallout from conflict in the Middle East. This extra cost could be over £5,000 more per year, recent analysis by Moneyfactscompare.co.uk has shown.
“The mortgage market remains highly reactive to ongoing shocks, and swap rates have continued to spike following escalating tensions in the Middle East and the uncertainty around the UK’s political landscape,” Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, commented.
“Interest rates remaining higher for longer will quickly burden borrowers, squeezing their budgets and how much they can afford. Millions of households are due to remortgage, but those coming off an ultra-low five-year fixed rate should be prepared to see their repayments spike by more than £5,400 a year,” she continued.
Many of the lowest fixed rates have dropped this week as providers continue to make cuts, with alternative Moneyfacts Best Buy deals available. It’s important borrowers search the market for a deal that best serves their needs and consider the overall value of the product before deciding. For further support, speak to a mortgage broker.
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: 20/05/2026
Rate: 4.55% fixed until 31 August 2028 before reverting to 7.74%
Initial period: 2 years
Product fee: £1,499
Maximum loan-to-value: 65%
APRC: 7.4%
Representative example: £210,000 mortgage over 25 years initially at 4.55% fixed for 27 months reverting to 7.74% variable for term. 27 monthly payments of £1173.22 and 273 monthly payments of £1554.19. Total amount payable £458,048.81 includes loan amount, interest of £245,971, valuation fees of £0 and product fees of £1499. The overall cost for comparison is 7.4% APRC representative.
Rate: 4.78% fixed for 3 years before reverting to 6.24%
Initial period: 3 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 6.0%
Representative example: £210,000 mortgage over 25 years initially at 4.78% fixed for 36 months reverting to 6.24% variable for term. 36 monthly payments of £1200.87 and 264 monthly payments of £1366.25. Total amount payable £404,791.32 includes loan amount, interest of £193,921, valuation fees of £0 and product fees of £490. The overall cost for comparison is 6.0% APRC representative.
Rate: 4.78% fixed until 31 October 2029 before reverting to 6.62%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.3%
Representative example: £210,000 mortgage over 25 years initially at 4.78% fixed for 41 months reverting to 6.62% variable for term. 41 monthly payments of £1200.87 and 259 monthly payments of £1407.79. Total amount payable £415,332.28 includes loan amount, interest of £203,853, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 4.69% fixed until 31 July 2031 before reverting to 6.24%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.8%
Representative example: £210,000 mortgage over 25 years initially at 4.69% fixed for 62 months reverting to 6.24% variable for term. 62 monthly payments of £1190.01 and 238 monthly payments of £1350.63. Total amount payable £396,704.56 includes loan amount, interest of £185,231, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.8% APRC representative.
The lowest two-year fixed remortgage rate has fallen for another consecutive week and is now offered by Leeds BS. Charging 4.55% to finance up to 65% loan-to-value (LTV), it comes with a hefty £1,499 completion fee, a free valuation (up to £999) and help towards costs. Available in England, Wales, mainland Scotland and Northern Ireland, borrowers can apply for this deal direct from the lender or via an intermediary.
Those looking to save on upfront costs could consider a Moneyfacts Best Buy two-year deal from first direct at 4.64% to finance up to 60% LTV, which comes with a much smaller £490 booking fee. As additional perks, this mortgage provides a free valuation and free legal fees. It’s available across Great Britain and Northern Ireland direct from the lender.
The lowest three-year fixed rate has also dropped to 4.78% and now comes from both first direct and The Co-operative Bank for Intermediaries. The deal from first direct, which can be used to finance up to 60% of a property’s value, costs a small £490 in product fees. It also provides a free valuation and free legal fees. Borrowers across Great Britain and Northern Ireland can apply for this mortgage direct from the lender.
Alternatively, The Co-operative Bank for Intermediaries offers 4.78% on a three-year fix to finance a maximum LTV of 60%. It comes with a higher £999 arrangement fee and the incentives of a free valuation, free legal fees and £250 cashback. As the lender’s name suggests, this product is available via selected intermediaries and can be applied for across Great Britain.
HSBC continues to offer the cheapest-priced five-year fix for remortgage borrowers in Great Britain and Northern Ireland at 4.69%. This deal, which can finance up to 60% LTV, provides a free valuation and a choice between £300 cashback or free legal fees. Borrowers will face a £999 booking fee and can apply for this deal both direct from HSBC or via selected intermediaries.
Borrowers in Great Britain and Northern Ireland with less equity could explore a five-year fix from first direct at a higher 4.95% which can finance a maximum LTV of 85%. It can be applied for direct from the lender and comes with a £490 booking fee, while its incentives include a free valuation and free legal fees. Considering its overall value, this deal qualifies as a Moneyfacts Best Buy.
Last updated: 20/05/2026
Rate: 4.40% fixed for 2 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 4.40% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £1375.43 and 276 monthly payments of £1665.90. Total amount payable £493,847.72 includes loan amount, interest of £242,799, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 4.59% 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 4.59% fixed for 39 months reverting to 7.24% variable for term. 39 monthly payments of £1402.38 and 261 monthly payments of £1761.93. Total amount payable £515,705.55 includes loan amount, interest of £264,557, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.59% 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 4.59% fixed for 39 months reverting to 7.24% variable for term. 39 monthly payments of £1402.38 and 261 monthly payments of £1761.93. Total amount payable £515,705.55 includes loan amount, interest of £264,557, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.48% fixed for 5 years before reverting to 6.24%
Initial period: 5 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 5.7%
Representative example:£250,000 mortgage over 25 years initially at 4.48% fixed for 60 months reverting to 6.24% variable for term. 60 monthly payments of £1386.74 and 240 monthly payments of £1603.63. Total amount payable £468,615.60 includes loan amount, interest of £218,076, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.7% APRC representative.
The cheapest two-year fixed rate for homemovers held steady this week at 4.40% and continues to come from Nationwide BS. This deal can finance up to 60% LTV and, while borrowers will need to pay a £999 reservation fee, they’ll receive a free valuation. What’s more, borrowers will also get £250 cashback if their property’s Energy Performance Certificate (EPC) rating is between 86 and 91, or £500 if it reaches 92 or higher. This deal, available across Great Britain and Northern Ireland (excluding the Scilly Isles), can be applied for direct from the lender or via an intermediary.
Halifax and Lloyds Bank offer the lowest three-year fixed rate of 4.59% for homemovers across Great Britain and Northern Ireland this week. These deals can be used to finance a maximum LTV of 60% and come with the opportunity to get £250 cashback if your property has an EPC rating of 81 or higher. Borrowers will need to budget for the £999 arrangement fee and can access these mortgages direct from Halifax and Lloyds Bank.
Those in Great Britain and Northern Ireland who need to finance a larger proportion of their property could consider a Moneyfacts Best Buy two- or three-year fix from first direct at 4.60% and 4.73%, respectively, which can finance up to 75% LTV. These two- and three-year direct deals come with a smaller £490 booking fee, and the perk of a free valuation.
Meanwhile, first direct also provides homemovers in Great Britain and Northern Ireland with the lowest five-year fixed rate of 4.48% this week. This direct deal can finance a maximum LTV of 60% and costs £490 in product fees. It also comes with the extra perk of a free valuation. This mortgage earns a place on our Moneyfacts Best Buy chart.
Alternatively, for borrowers who need to finance more of their property’s value, the same provider offers a Moneyfacts Best Buy deal at 4.58% that can finance up to 75% LTV. Otherwise, it comes with the same features as the deal above.
Last updated: 20/05/2026
Rate: 4.89% fixed until 1 August 2028 before reverting to 6.74%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 6.5%
Representative example: £200,000 mortgage over 25 years initially at 4.89% fixed for 26 months reverting to 6.74% variable for 58 months and 6.49% variable for term. 26 monthly payments of £1156.40, 58 monthly payments of £1365.06 and 216 monthly payments of £1340.51. Total amount payable £399,938.04 includes loan amount, interest of £198,790, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.
Rate: 4.84% fixed until 1 August 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 6.0%
Representative example: £200,000 mortgage over 25 years initially at 4.84% fixed for 62 months reverting to 6.74% variable for 22 months and 6.49% variable for term. 62 monthly payments of £1150.61, 22 monthly payments of £1341.21 and 216 monthly payments of £1317.09. Total amount payable £386,483.88 includes loan amount, interest of £185,336, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.0% APRC representative.
Rate: 4.84% fixed for 5 years before reverting to 6.24%
Initial period: 5 years
Product fee: £490
Maximum loan-to-value: 90%
APRC: 5.8%
Representative example: £200,000 mortgage over 25 years initially at 4.84% fixed for 60 months reverting to 6.24% variable for term. 60 monthly payments of £1150.61 and 240 monthly payments of £1290.56. Total amount payable £379,311.00 includes loan amount, interest of £178,771, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.8% APRC representative.
Rate: 5.37% fixed until 31 August 2028 before reverting to 7.24%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 7.1%
Representative example: £200,000 mortgage over 25 years initially at 5.37% fixed for 27 months reverting to 7.24% variable for term. 27 monthly payments of £1212.70 and 273 monthly payments of £1428.24. Total amount payable £423,801.42 includes loan amount, interest of £222,652, valuation fees of £100 and product fees of £999. The overall cost for comparison is 7.1% APRC representative.
Rate: 5.37% 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 5.37% fixed for 27 months reverting to 7.74% variable for term. 27 monthly payments of £1212.70 and 273 monthly payments of £1488.68. Total amount payable £440,400.54 includes loan amount, interest of £239,153, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.5% APRC representative.
Rate: 5.37% fixed until 31 August 2028 before reverting to 7.24%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 7.1%
Representative example: £200,000 mortgage over 25 years initially at 5.37% fixed for 27 months reverting to 7.24% variable for term. 27 monthly payments of £1212.70 and 273 monthly payments of £1428.24. Total amount payable £423,801.42 includes loan amount, interest of £222,652, valuation fees of £100 and product fees of £999. The overall cost for comparison is 7.1% APRC representative.
Rate: 5.37% fixed for 2 years before reverting to 6.49%
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 5.37% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £1212.70 and 276 monthly payments of £1340.82. Total amount payable £400,220.12 includes loan amount, interest of £199,171, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.
Rate: 5.30% fixed for 5 years before reverting to 6.49%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 6.2%
Representative example: £200,000 mortgage over 25 years initially at 5.30% fixed for 60 months reverting to 6.49% variable for term. 60 monthly payments of £1204.40 and 240 monthly payments of £1326.05. Total amount payable £391,565.00 includes loan amount, interest of £190,516, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
First-time buyers in Great Britain and Northern Ireland with a 10% deposit will find Virgin Money continues to offer the lowest two- and five-year fixed mortgage rates of 4.89% and 4.84%, respectively. These mortgages provide borrowers with the incentive of a free valuation and come with a £999 arrangement fee. They can be applied for via an intermediary.
Those with a 10% deposit wanting to save on upfront costs could explore a two-year deal from the same lender at 5.16% which doesn’t charge any additional product fees. Otherwise, this mortgage comes with the same features as the previous Virgin Money deals.
Alternatively, first direct also offers the cheapest-priced five-year fix for those needing to finance up to 90% LTV. Charging 4.84%, this direct deal, which is available across Great Britain and Northern Ireland, comes with a small £490 booking fee and a free valuation.
The cheapest-priced two-year fixed rate for first-time buyers with a 5% deposit has gone up marginally to 5.37% this week, and is now offered by Halifax and Lloyds Bank. These mortgages come with a £999 arrangement fee and provide borrowers whose properties have an EPC rating of 81 or higher with £250 cashback. Borrowers across Great Britain and Northern Ireland can apply for this deal direct from the lenders.
Also charging the lowest two-year fixed rate of 5.37% for first-time buyers with a 5% deposit is Leeds BS. This mortgage also costs £999 in arrangement fees, and comes with the perk of a free valuation (up to £999). Available across England, Wales, mainland Scotland and Northern Ireland, borrowers can apply for this deal both direct from Leeds BS, or via an intermediary.
Nationwide BS additionally charges 5.37% on a two-year deal to finance up to 95% LTV. This mortgage, available across Great Britain and Northern Ireland (excluding the Scilly Isles), provides a free valuation, £500 cashback and a further £250 for properties with an EPC score between 86 and 91, or £500 if this rating reaches 92 or higher. This deal is accessible directly from Nationwide BS, or from intermediaries.
Borrowers wanting a wider range of incentives could consider a Moneyfacts Best Buy two-year deal, also from Nationwide BS, at 5.42% which doesn’t charge any product fees and comes with a free valuation, as well as £500 cashback. Those buying a property with an EPC rating between 86 and 91 will also receive a further £250 cashback, and borrowers with a score of 92 or higher get £500. Borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) can apply for this mortgage direct from the lender or via an intermediary.
The lowest five-year fixed rate for first-time buyers who need to finance up to 95% LTV has held steady at 5.30% this week, still offered on two deals, once again from Nationwide BS. Both cost £999 in reservation fees and provide a free valuation and £500 cashback. There’s also a chance to receive further cashback - £250 if your property has an EPC score of 86 to 91, or £500 if it hits 92 or higher. One deal has the added perk of being a Helping Hand mortgage, meaning first-time buyers could borrow up to six times their income. To find out more, head to Nationwide BS’s website. The remaining mortgage otherwise has the same features as its Helping Hand counterpart. Available across Great Britain and Northern Ireland (excluding the Scilly Isles) these deals can be applied for direct from the lender, or via an intermediary.
First-time buyers in Great Britain and Northern Ireland wanting to save on upfront costs could explore a five-year fix at 5.45% from HSBC which doesn’t charge any additional product fees. It can finance a maximum 95% LTV. As an extra perk, this mortgage (available direct or via intermediaries) provides a free valuation and an attractive £1,500 cashback. Considering its overall value, this deal earns a place on our Moneyfacts Best Buy chart.
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