Last updated: 18 February 2026 at 14:25
Latest mortgage news: Affordability pressures ease despite some of the lowest fixed mortgage rates continuing to rise.
While some of the lowest fixed mortgage rates continued to tick upwards this week, borrowers might find solace in gradual improvements to affordability.
“Slower house price growth combined with rising wages has eased some of the pressure, offering a welcome relief to borrowers after a few very tough years, as well as to many aspiring first-time buyers,” said Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk.
“Moneyfacts analysis of latest official house price data shows that average mortgage payments, which accounted for more than half of gross monthly income just over two years ago had fallen to around 44% of the average gross salary by the end of 2025,” French explained. He added that this trend is expected to continue, “with the burden of payments on track to fall to a more manageable 40-41% later this year”.
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: 18/02/2026
Rate: 3.70% fixed for two years before reverting to 6.24%
Initial period: 2 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 6.0%
Representative example: £210,000 mortgage over 25 years initially at 3.70% fixed for 24 months reverting to 6.24% variable for term. 24 monthly payments of £1073.97 and 276 monthly payments of £1362.40. Total amount payable £402,667.68 includes loan amount, interest of £191,798, valuation fees of £0 and product fees of £490. The overall cost for comparison is 6.0% 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 lowest two-year fixed remortgage rate edged even higher to 3.70% this week and can now be found from first direct. Borrowers in Great Britain and Northern Ireland can apply for this deal directly with the lender and use it to finance up to 60% of their home. It costs £490 in booking fees and includes a free valuation as well as free legal fees as incentives – earning it a place on our Moneyfacts Best Buy chart based on its overall true cost. Alternatively, those who’d prefer a guaranteed price for longer will find another deal from first direct still provides the lowest five-year fixed remortgage rate this week at 3.79% and comes with many of the same features.
That being said, borrowers with less equity will need to explore other options. Alternative two- and five-year fixed remortgage deals from first direct can finance a larger portion of a property – up to 75% loan-to-value (LTV) - at 3.83% and 3.91%, respectively, and hold spots on our Moneyfacts Best Buy charts. They also have lending areas that span Great Britain and Northern Ireland, cost £490 in booking fees when applying direct and offer a free valuation as well as free legal fees as incentives.
However, those wanting a compromise between the flexibility of a shorter fixed term and the security of a longer term could consider a three-year fixed remortgage deal. The lowest rate in this sector held steady at 3.73% this week and is charged by mortgages from Halifax and Lloyds Bank. Both are available in Great Britain and Northern Ireland directly from the lenders and cater for up to 60% LTV. While they cost £999 in arrangement fees, these deals come with a free valuation and free legal fees, as well as the opportunity to earn £250 cashback if your home has an Energy Performance Certificate (EPC) score of 81 or more.
Meanwhile, borrowers who need a loan that covers more of their property might be interested in a three-year fix from Nationwide BS that features on our Moneyfacts Best Buy chart. Despite charging a higher 4.05% to finance up to 85% LTV, this deal comes with a free valuation as well as the choice between free legal fees or a substantial £500 cashback on completion. It can be accessed by those living in Great Britain and Northern Ireland (excluding the Scilly Isles) either direct or via intermediaries and costs £999 in reservation fees.
Last updated: 18/02/2026
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.
Likewise, the lowest two-year fixed rate for homemovers crept up this week; Nationwide BS now charges the cheapest price in this corner of the mortgage market, at 3.59% to finance up to 60% LTV. This deal is available to borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) either direct or via intermediaries and costs £999 in reservation fees. As well as a free valuation, those moving to a property with an EPC rating between 86 and 91 will get £250 cashback, while there’s £500 cashback up for grabs for a score of 92 or more. Meanwhile, a similar three-year fixed deal from Nationwide BS might appeal to homemovers looking to secure a rate for slightly longer, as it charges the cheapest price in its sector at 3.69%. Visit our chart for more details.
But, as there are lots of costs associated with moving home, borrowers who want to save on upfront expenses could consider a two-year fixed deal from HSBC that comes with no additional product fees and lands a spot on our Moneyfacts Best Buy chart. Available throughout Great Britain and Northern Ireland either direct or via selected intermediaries, it charges 4.04% to finance up to 85% LTV. As well as a free valuation, this mortgage includes £250 cashback which could help to further offset costs.
Homemovers in Great Britain and Northern Ireland can also still find the lowest three-year fixed rate from Santander. Its deal charging 3.69% can finance up to 60% LTV and is accessible direct or via intermediaries. It costs £999 in arrangement fees but includes a free valuation (up to a maximum of £1,190) and £250 cashback as perks.
Otherwise, first direct continues to offer homemovers the lowest five-year fixed rate, with a deal charging 3.75% to finance up to 60% LTV. However, those with less equity could instead consider another five-year fixed mortgage from the lender that caters for up to 75% LTV at a slightly higher 3.84%. Borrowers in Great Britain and Northern Ireland can apply for either option directly and will face a below-average booking fee of £490. They each include a free valuation to sweeten the deal and appear on our Moneyfacts Best Buy charts based on their overall true costs.
Last updated: 18/02/2026
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 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: 4.24% 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: 4.49% 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.
By contrast, this week saw no movement in the lowest two-year fixed rate for first-time buyers with a 10% deposit. A deal from West Brom BS continues to charge 3.99% and can be applied for either direct or via selected intermediaries. But, while it comes with a free valuation (up to a maximum of £740), it should be noted this mortgage is only available in England and Wales and costs a substantial £1,499 in completion fees.
Instead, for a two-year fix more widely available throughout Great Britain and Northern Ireland, first-time buyers could consider a mortgage from Yorkshire Building Society that can finance up to 90% LTV at 4.04% - one of the next lowest rates in the sector. It can be applied for directly with lender, costs a slightly more moderate £995 in completion fees and also includes a free valuation.
First-time buyers interested in securing a five-year fix with a 10% deposit, meanwhile, may be disappointed to learn the lowest rate in this sector jumped to 4.24% this week. Virgin Money is one of the lenders charging this price; its deal can be applied for direct or via intermediaries by borrowers in Great Britain and Northern Ireland and costs £999 in arrangement fees. However, it only includes a free valuation in the way of incentives.
In comparison, a five-year fixed deal from HSBC charging the same rate to finance up to 90% LTV comes with a considerable £750 cashback, as well as a free valuation. First-time buyers in Great Britain and Northern Ireland can apply for this mortgage either direct or via intermediaries but will still need to budget for the £999 booking fee.
Elsewhere, those with a smaller, 5% deposit can continue to find the lowest two-year fixed rate from The Co-operative Bank for Intermediaries. As the lender’s name suggests, first-time buyers in Great Britain can apply for its deal charging 4.49% via selected intermediaries. It costs £999 in arrangement fees, but offers £250 cashback, as well as a free valuation, as incentives.
The lowest five-year fixed rate for first-time buyers with a 5% deposit, however, has risen to 4.66% this week. This deal from Leek Building Society can be applied for by borrowers in England and Wales either direct or via intermediaries - costing £995 in completion fees – and includes a free valuation.
Nevertheless, those who want access to a wider range of perks could still consider two- and five-year fixed deals from HSBC which retain spots on our Moneyfacts Best Buy chart this week and can finance up to 95% LTV at 4.74% and 4.79%, respectively. As well as a free valuation, these mortgages offer £1,000 and £1,500 cashback, respectively, which could help to cover the cost of moving or furnishing your first home. Both are available to first-time buyers in Great Britain and Northern Ireland direct or via selected intermediaries. What’s more, they come with no additional product fees.
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