Last updated: 1 July 2026 at 13:05
Latest mortgage news: With activity in the mortgage market slowing throughout May, what could the future have in store?
Net mortgage borrowing in May dropped to £2.9 billion down from £4.4 billion in April, the most recent Money and Credit data from the Bank of England uncovered. And what’s more, net mortgage approvals for house purchases dropped to 56,200 in May (down from 66,000 the previous month). This is its lowest since December 2023.
Rachel Springall, Finance Expert at Moneyfactscompare.co.uk explained that this slowing “is a somewhat natural cooldown” following the recent unrest in the mortgage market caused by war in the Middle East.
Despite this, many lenders have cut rates recently as inflation hasn’t increased significantly as was feared, painting a more positive image for borrowers going forward. Coupled with peace talks between US and Iran, Springall is hopeful momentum will “slowly build” in the months ahead.
Read more: Mortgage approvals plummet to lowest level in two and a half years
And, with more lenders dipping rates, many of the lowest fixed residential mortgage rates have seen improvements this week.
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: 02/07/2026
Rate: 4.43% fixed until 30 September 2028 before reverting to 6.74%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.5%
Representative example: £210,000 mortgage over 25 years initially at 4.43% fixed for 26 months reverting to 6.74% variable for term. 26 monthly payments of £1158.92 and 274 monthly payments of £1428.74. Total amount payable £423,481.68 includes loan amount, interest of £211,607, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.5% APRC representative.
Rate: 4.43% fixed until 30 September 2028 before reverting to 6.74%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.5%
Representative example: £210,000 mortgage over 25 years initially at 4.43% fixed for 26 months reverting to 6.74% variable for term. 26 monthly payments of £1158.92 and 274 monthly payments of £1428.74. Total amount payable £423,481.68 includes loan amount, interest of £211,607, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.5% APRC representative.
Rate: 4.54% fixed until 31 August 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £995
Maximum loan-to-value: 60%
APRC: 6.7%
Representative Example: £210,000 mortgage over 25 years initially at 4.54% fixed for 37 months reverting to 7.24% variable for term. 37 monthly payments of £1172.02 and 263 monthly payments of £1481.21. Total amount payable £434,297.97 includes loan amount, interest of £222,923, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.49% fixed until 30 September 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.00%
Representative example: £210,000 mortgage over 25 years initially at 4.49% fixed for 62 months reverting to 6.74% variable for term. 62 monthly payments of £1166.06 and 238 monthly payments of £1399.87. Total amount payable £407,339.78 includes loan amount, interest of £195,465, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.0% APRC representative.
Rate: 4.49% fixed until 30 September 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.0%
Representative example: £210,000 mortgage over 25 years initially at 4.49% fixed for 62 months reverting to 6.74% variable for term. 62 monthly payments of £1166.06 and 238 monthly payments of £1399.87. Total amount payable £407,339.78 includes loan amount, interest of £195,465, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.0% APRC representative.
For another consecutive week, the lowest fixed rates for remortgage borrowers have dropped across the board, with deals from NatWest and its intermediary arm, NatWest Int Sols, charging the cheapest-priced two- and five-year fixes. The two-year mortgages (one from NatWest and two from NatWest Int Sols) are priced at 4.43%, and the five-year offerings (one direct and two via NatWest Int Sols) charge 4.49%. All can be used to finance up to 60% loan-to-value (LTV) and charge a hefty £1,495 arrangement fee. The direct Online Exclusive two- and five-year deals from NatWest and one two- and five-year fix from NatWest Int Sols provide borrowers with the perks of a free valuation and free legal fees, while the remaining offers give a free valuation and an attractive £350 cashback. These deals are available across Great Britain and Northern Ireland.
Alternatively, those with less equity across Great Britain and Northern Ireland could consider a Moneyfacts Best Buy two- or five-year deal from first direct costing a respective 4.57% and 4.62% to finance up to 75% LTV. These direct deals come with a considerably lower £490 booking fee and the perks of a free valuation and free legal fees.
Those looking for a three-year fix will find that the lowest three-year rate available across Great Britain is now provided by two deals from TSB. Charging 4.54% to finance a maximum LTV of 60%, they come with a £995 arrangement fee. Both also come with a free valuation, while one provides the extra incentive of £300 cashback and the other free legal fees. Borrowers can apply directly from TSB or via selected intermediaries.
Borrowers in Great Britain looking to save on upfront costs could explore a three-year fix from Skipton BS which charges a higher 5.03% but comes with no additional product fees. It can be used to finance up to 90% of a property’s value and comes with the additional incentives of a free valuation and free legal fees. It can be applied for direct from Skipton BS or via an intermediary. Considering its overall value, it qualifies as a Moneyfacts Best Buy.
Last updated: 02/07/2026
Rate: 4.24% fixed until 31 December 2028 before reverting to 6.54%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 65%
APRC: 6.2%
Representative example: £250,000 mortgage over 25 years initially at 4.24% fixed for 29 months reverting to 6.54% variable for term. 29 monthly payments of £1352.95 and 271 monthly payments of £1666.54. Total amount payable £491,916.89 includes loan amount, interest of £240,868, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
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: £160,000 mortgage over 25 years initially at 4.24% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £865.89 and 276 monthly payments of £1065.04. Total amount payable £315,781.40 includes loan amount, interest of £154,732, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 4.44% fixed until 31 December 2029 before reverting to 6.54%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 65%
APRC: 6.1%
Representative example: £250,000 mortgage over 25 years initially at 4.44% fixed for 41 months reverting to 6.54% variable for term. 41 monthly payments of £1381.08 and 259 monthly payments of £1658.51. Total amount payable £487,227.37 includes loan amount, interest of £236,178, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 4.44% 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 4.44% fixed for 36 months reverting to 6.49% variable for term. 36 monthly payments of £1381.08 and 264 monthly payments of £1655.98. Total amount payable £487,946.60 includes loan amount, interest of £236,898, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 4.44% fixed until 31 August 2029 before reverting to 7.24%
Initial period: 3 years
Product fee: £995
Maximum loan-to-value: 60%
APRC: 6.7%
Representative example:£250,000 mortgage over 25 years initially at 4.44% fixed for 37 months reverting to 7.24% variable for term. 37 monthly payments of £1381.08 and 263 monthly payments of £1761.55. Total amount payable £515,432.61 includes loan amount, interest of £264,388, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.31% fixed until 30 September 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £250,000 mortgage over 25 years initially at 4.31% fixed for 62 months reverting to 6.74% variable for term. 62 monthly payments of £1362.76 and 238 monthly payments of £1661.25. Total amount payable £481,413.62 includes loan amount, interest of £229,869, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.9% APRC representative.
Rate: 4.31% fixed until 30 September 2031 before reverting to 6.74%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £250,000 mortgage over 25 years initially at 4.31% fixed for 62 months reverting to 6.74% variable for term. 62 monthly payments of £1362.76 and 238 monthly payments of £1661.25. Total amount payable £481,413.62 includes loan amount, interest of £229,869, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.9% APRC representative.
The lowest fixed mortgage rates for homemovers have also all seen a drop this week, with Coventry BS one lender providing the cheapest priced two-year fix at 4.24%. It offers this rate on a deal that can finance up to 65% LTV. What’s more, Coventry BS also charges the lowest fixed three-year rate of 4.44% (to finance up to 65% LTV). These mortgages, available across Great Britain direct from the lender or via selected intermediaries, cost £999 in arrangement fees and provide the incentive of a free valuation.
Nationwide BS is another lender charging the lowest fixed two- and three-year rates for homemovers of 4.24% and 4.44%, respectively. These deals will see borrowers face a £999 reservation fee but provide a free valuation. Those whose properties reach an Energy Performance Certificate (EPC) score between 86 and 91 will also receive £250 cashback, while those who score 92 or above will get £500 cashback. Borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) can apply for these mortgages direct from the lender or via an intermediary.
Also charging 4.44% to finance a maximum LTV of 60% on a three-year fix is TSB. This mortgage (accessible across Great Britain) costs a marginally lower £995 in arrangement fee and comes with the perk of a free valuation. Applications can be made directly to TSB or via selected intermediaries.
Those wanting a five-year fix will find the lowest rate across Great Britain and Northern Ireland on a deal each from NatWest and NatWest Int Sols. Charging 4.31% to finance up to 60% LTV, they cost £1,495 in arrangement fees and come with a free valuation. The NatWest deal can be applied for direct from the lender.
Alternatively, borrowers across Great Britain and Northern Ireland with less equity could explore a five-year deal from first direct costing 4.48% to finance a maximum LTV of 75%. This Moneyfacts Best Buy, available direct from the lender, comes with a smaller £490 booking fee and the perk of a free valuation.
Last updated: 02/07/2026
Rate: 4.69% fixed until 31 December 2028 before reverting to 6.54%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 6.3%
Representative example: £200,000 mortgage over 25 years initially at 4.69% fixed for 29 months reverting to 6.54% variable for term. 29 monthly payments of £1133.34 and 271 monthly payments of £1338.01. Total amount payable £396,516.57 includes loan amount, interest of £195,468, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 4.69% fixed until 1September 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 4.69% fixed for 25 months reverting to 6.74% variable for 59 months and 6.49% variable for term. 25 monthly payments of £1133.34, 59 monthly payments of £1363.88 and 216 monthly payments of £1339.34. Total amount payable £399,247.86 includes loan amount, interest of £198,100, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.
Rate: 4.62% fixed until 31 December 2031 before reverting to 6.54%
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 4.62% fixed for 65 months reverting to 6.54% variable for term. 65 monthly payments of £1125.33 and 235 monthly payments of £1313.48. Total amount payable £382,863.25 includes loan amount, interest of £181,814, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.
Rate: 5.05% fixed until 31 December 2031 before reverting to 6.54%
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 5.05% fixed for 29 months reverting to 6.54% variable for term. 29 monthly payments of £1175.01 and 271 monthly payments of £1341.67. Total amount payable £398,716.86 includes loan amount, interest of £197,668, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.
Rate: 5.06% fixed until 30 September 2031 before reverting to 7.34%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 95%
APRC: 6.6%
Representative example: £200,000 mortgage over 25 years initially at 5.06% fixed for 62 months reverting to 7.34% variable for term. 62 monthly payments of £1176.18 and 238 monthly payments of £1409.63. Total amount payable £409,545.10 includes loan amount, interest of £208,415, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.6% APRC representative.
The lowest two-year fixed mortgage rate for first-time buyers with a 10% deposit across Great Britain has dipped to 4.69%, charged on two deals from Coventry BS. The lender also provides the cheapest priced five-year fix for those with a 10% deposit of 4.62%. Alternatively, those with a smaller 5% deposit will find Coventry BS charges the lowest two-year fixed rate of 5.05%. All mortgages can be applied for direct from the lender or via selected intermediaries and cost £999 in arrangement fees. As an incentive they provide a free valuation, while one two-year 90% LTV deal, the two-year 95% LTV fix and the five-year mortgage also come with the extra perk of £500 cashback.
Alternatively, those wanting to keep upfront costs to a minimum could consider a five-year deal of 4.79% (to finance up to 90% LTV) from the same lender which doesn’t cone with any additional product fees. What’s more, as an added perk, it also comes with a free valuation and £500 cashback. Otherwise, it has the same features as the deals above.
Or, Virgin Money additionally provides a five-year deal to borrowers with a 10% deposit which doesn’t come with any product fees. It comes with the extra perk of a free valuation and can be applied for throughout Great Britain and Northern Ireland via an intermediary.
Otherwise, those wanting a two-year fix to finance up to 95% LTV which keeps upfront costs low could explore a Moneyfacts Best Buy deal from Skipton BS that doesn’t cost anything extra in product fees. Charging a higher 5.19%, it also comes with a free valuation and is accessible across Great Britain. Borrowers can apply directly from Skipton BS or via an intermediary.
Virgin Money also charges the lowest two-year fixed mortgage rate for those with a 10% deposit of 4.69% this week. It charges £999 in arrangement fees, can be applied for across Great Britain and Northern Ireland via intermediaries and comes with a free valuation.
Elsewhere, the cheapest priced five-year fix for first-time buyers across England and Wales with a 5% deposit has held steady this week. Continuing to charge 5.06%, this deal from Leek Building Society (which is available direct from the lender or via an intermediary) comes with a £995 completion fee and a free valuation.
Borrowers across Great Britain and Northern Ireland wanting to minimise any upfront costs could explore a five-year deal at 5.28% from HSBC which doesn’t come with any product fees. Its other incentives include a free valuation and a highly attractive £1,500 cashback. This mortgage, which can be applied for directly from HSBC or via selected intermediaries, earns a place on our Moneyfacts Best Buy chart.
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