Last updated: 29 October 2025 at 15:55
Latest UK mortgage news: Many of the lowest fixed rates drop as lenders make cuts.
Despite the obstacles that continue to face mortgage borrowers, activity in the housing market proved strong throughout September, according to the latest Bank of England Money and Credit report.
It revealed net borrowing of mortgage debt rose by £1.2 billion to reach £5.5 billion last month – its highest since March 2025 when many people rushed to complete purchases before temporary stamp duty relief came to an end.
Furthermore, the number of net mortgage approvals for house purchases (which can indicate future borrowing) reached its highest level since December 2024 after rising by 1,000 in September to reach 65,900.
“The latest statistics paint a positive picture for house purchases in September, off the back of a weaker August. However, it is worth noting that different times of the year can record seasonal dips for house purchase,” remarked Rachel Springall, Finance Expert at Moneyfactscompare.co.uk.
She also added that the latest data “shows a contrast for remortgage approvals”, as the number of remortgage approvals with a different lender dropped by 600 to 37,200.
Read more: September sees highest number of mortgage approvals in 2025
Nevertheless, with many of the lowest fixed mortgage rates falling this week, this combined with the overall positive sentiment might encourage borrowers on the fence about securing a deal.
See below for the lowest fixed mortgage rates for remortgage borrowers, homemovers and first-time buyers.
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: 29/10/2025
Rate: 3.86% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.6%
Representative example: £210,000 mortgage over 25 years initially at 3.86% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1092.29 and 273 monthly payments of £1452.36. Total amount payable £427,861.11 includes loan amount, interest of £215,986, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.6% APRC representative.
Rate: 3.86% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.6%
Representative example: £210,000 mortgage over 25 years initially at 3.86% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1092.29 and 273 monthly payments of £1452.36. Total amount payable £427,861.11 includes loan amount, interest of £215,986, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.6% APRC representative.
Rate: 3.94% fixed until 31 January 2029 before reverting to 7.74%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 65%
APRC: 6.9%
Representative example: £210,000 mortgage over 25 years initially at 3.94% fixed for 39 months reverting to 7.74% variable for term. 39 monthly payments of £1101.51 and 261 monthly payments of £1529.80. Total amount payable £443,814.69 includes loan amount, interest of £232,237, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.9% APRC representative.
Rate: 3.94% fixed until 31 December 2028 before reverting to 7.49%
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 3.94% fixed for 38 months reverting to 7.49% variable for term. 38 monthly payments of £1101.51 and 262 monthly payments of £1500.84. Total amount payable £436,452.46 includes loan amount, interest of £225,077, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.7% APRC representative.
Rate: 3.93% fixed until 31 January 2031 before reverting to 6.99%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £210,000 mortgage over 25 years initially at 3.93% fixed for 63 months reverting to 6.99% variable for term. 63 monthly payments of £1100.36 and 237 monthly payments of £1411.80. Total amount payable £405,794.28 includes loan amount, interest of £193,919, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.9% APRC representative.
Rate: 3.93% fixed until 31 January 2031 before reverting to 6.99%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.9%
Representative example: £210,000 mortgage over 25 years initially at 3.93% fixed for 63 months reverting to 6.99% variable for term. 63 monthly payments of £1100.36 and 237 monthly payments of £1411.80. Total amount payable £405,794.28 includes loan amount, interest of £193,919, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.9% APRC representative.
There’s marginal relief for remortgage borrowers this week as both the lowest two- and five-year fixed rates in this sector dropped slightly following cuts from NatWest and its intermediary arm, NatWest Int Sols. The lenders each offer deals that can finance up to 60% loan-to-value (LTV) at 3.86% for two years or 3.93% fixed for five years. These mortgages all cost a sizeable £1,495 in arrangement fees and are available to refinance customers living in Great Britain and Northern Ireland (although it should be noted the deals direct from NatWest can only be accessed online). While they all include a free valuation, NatWest Int Sols offers two deals at each price: one which additionally offers free legal fees and another that comes with £350 cashback. Both deals from NatWest, meanwhile, also each include free legal fees.
That being said, those wanting to save on upfront costs or who have less equity could consider alternative options from first direct that feature on our Moneyfacts Best Buy chart based on their overall true cost. These deals can finance up to 75% of a property at 4.08% for two years or 4.04% for five years and cost just £490 in booking fees. Both also have lending areas that span Great Britain and Northern Ireland and include a free valuation as well as free legal fees as extra perks.
However, remortgage borrowers wanting a three-year fix will be disappointed to discover the lowest rate in this corner of the mortgage market has risen slightly week-on-week. TSB is among lenders currently offering the cheapest price, as it offers two deals that can finance up to 60% LTV at 3.94%. Borrowers in Great Britain can apply for either option direct or via selected intermediaries and will need to budget for the £995 arrangement fee. While both include a free valuation, one deal offers free legal fees and the other comes with £300 cashback.
Alternatively, a mortgage direct from Leeds BS charges the same rate to finance up to 65% LTV and is more widely available throughout England, Wales, mainland Scotland and Northern Ireland. It comes with a similar £999 price tag but only offers a free valuation (up to a maximum of £999) as its sole incentive.
Last updated: 29/10/2025
Rate: 3.77% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.5%
Representative example: £250,000 mortgage over 25 years initially at 3.77% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1288.05 and 273 monthly payments of £1727.77. Total amount payable £508,003.56 includes loan amount, interest of £256,459, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.5% APRC representative.
Rate: 3.77% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 6.5%
Representative example: £250,000 mortgage over 25 years initially at 3.77% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1288.05 and 273 monthly payments of £1727.77. Total amount payable £508,003.56 includes loan amount, interest of £256,459, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.5% APRC representative.
Rate: 3.77% fixed until 29 February 2028 before reverting to 7.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.9%
Representative example: £250,000 mortgage over 25 years initially at 3.77% fixed for 28 months reverting to 7.49% variable for term. 28 monthly payments of £1288.05 and 272 monthly payments of £1800.08. Total amount payable £526,836.16 includes loan amount, interest of £275,687, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.9% APRC representative.
Rate: 3.77% fixed until 29 February 2028 before reverting to 7.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.9%
Representative example: £250,000 mortgage over 25 years initially at 3.77% fixed for 28 months reverting to 7.49% variable for term. 28 monthly payments of £1288.05 and 272 monthly payments of £1800.08. Total amount payable £526,836.16 includes loan amount, interest of £275,687, valuation fees of £100 and product fees of £999. The overall cost for comparison is 6.9% APRC representative.
Rate: 3.80% fixed until 2 February 2029 before reverting to 6.75%
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 3.80% fixed for 39 months reverting to 6.75% variable for term. 39 monthly payments of £1292.14 and 261 monthly payments of £1677.64. Total amount payable £489,531.50 includes loan amount, interest of £238,258, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 3.90% fixed until 31 January 2031 before reverting to 6.99%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.8%
Representative example: £250,000 mortgage over 25 years initially at 3.90% fixed for 63 months reverting to 6.99% variable for term. 63 monthly payments of £1305.83 and 237 monthly payments of £1679.77. Total amount payable £481,917.78 includes loan amount, interest of £230,373, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.8% APRC representative.
Rate: 3.90% fixed until 31 January 2031 before reverting to 6.99%
Initial period: 5 years
Product fee: £1,495
Maximum loan-to-value: 60%
APRC: 5.8%
Representative example: £250,000 mortgage over 25 years initially at 3.90% fixed for 63 months reverting to 6.99% variable for term. 63 monthly payments of £1305.83 and 237 monthly payments of £1679.77. Total amount payable £481,917.78 includes loan amount, interest of £230,373, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 5.8% APRC representative.
Many of the lowest fixed rates in the homemoving mortgage market have also fallen this week. For instance, NatWest and its intermediary arm, NatWest Int Sols, are among lenders offering the sector’s cheapest-priced two- and five-year fixes following recent reductions. Deals from both lenders can finance up to 60% of a new home at 3.77% for two years or 3.90% for five years. Available to borrowers throughout Great Britain and Northern Ireland, they cost £1,495 in arrangement fees and include a free valuation as an incentive.
Alternatively, both Halifax and Lloyds Bank now also offer mortgages that charge the same two-year fixed rate to finance up to 60% LTV. Borrowers in Great Britain and Northern Ireland can apply for either of these deals directly with the lender and will face a more moderate £999 arrangement fee. What’s more, those moving to a property with an Energy Performance Certificate (EPC) score of 81 or more will receive £250 cashback.
Otherwise, those with less equity could consider a five-year fixed deal from Santander that lands a place on our Moneyfacts Best Buy chart. It can finance up to 75% LTV at 4.06% and includes a free valuation (up to a maximum of £1,190) as well as £250 cashback as incentives. This mortgage costs £999 in arrangement fees and is available to borrowers in Great Britain and Northern Ireland.
Santander also offers homemovers the lowest three-year fixed rate this week at 3.80%. This deal is subject to many of the same conditions (i.e. it has a lending area spanning Great Britain and Northern Ireland, costs £999 in arrangement fees and includes both a free valuation as well as £250 cashback). It can be applied for either direct or via intermediaries, however, borrowers should note it only caters for up to 60% LTV.
Instead, those needing to finance a larger portion of their new home could consider a three-year fixed deal from first direct that occupies a spot on our Moneyfacts Best Buy chart. Not only can it finance up to 75% LTV at 4.08%, but this deal comes with a smaller £490 booking fee. Borrowers in Great Britain and Northern Ireland can apply for it directly and will get a free valuation as an added perk.
Last updated: 29/10/2025
Rate: 4.30% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 6.6%
Representative example: £200,000 mortgage over 25 years initially at 4.30% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1089.08 and 273 monthly payments of £1387.89. Total amount payable £409,344.13 includes loan amount, interest of £208,299, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.30% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 6.6%
Representative example: £200,000 mortgage over 25 years initially at 4.30% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1089.08 and 273 monthly payments of £1387.89. Total amount payable £409,344.13 includes loan amount, interest of £208,299, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.30% fixed until 31 January 2028 before reverting to 6.99%
Initial period: 2 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 6.7%
Representative example: £200,000 mortgage over 25 years initially at 4.30% fixed for 27 months reverting to 6.99% variable for term. 27 monthly payments of £1089.08 and 273 monthly payments of £1387.89. Total amount payable £409,419.13 includes loan amount, interest of £208,299, valuation fees of £75 and product fees of £995. The overall cost for comparison is 6.7% APRC representative.
Rate: 4.33% fixed until 28 February 2031 before reverting to 6.54%
Initial period: 5 years
Product fee: £1,995
Maximum loan-to-value: 90%
APRC: 5.8%
Representative example: £200,000 mortgage over 25 years initially at 4.33% fixed for 64 months reverting to 6.54% variable for term. 64 monthly payments of £1092.45 and 236 monthly payments of £1307.31. Total amount payable £380,541.96 includes loan amount, interest of £178,442, valuation fees of £0 and product fees of £1995. The overall cost for comparison is 5.8% APRC representative.
Rate: 4.74% fixed until 31 March 2028 before reverting to 6.87%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 95%
APRC: 6.6%
Representative example: £200,000 mortgage over 25 years initially at 4.74% fixed for 29 months reverting to 6.87% variable for term. 29 monthly payments of £1139.08 and 271 monthly payments of £1376.81. Total amount payable £407,297.83 includes loan amount, interest of £206,149, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.70% fixed until 31 January 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 4.70% fixed for 63 months reverting to 7.34% variable for term. 63 monthly payments of £1134.49 and 237 monthly payments of £1400.21. Total amount payable £404,452.64 includes loan amount, interest of £203,323, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.4% APRC representative.
There’s also been movement in the lowest fixed rates available to first-time buyers this week. Those with a 10% deposit will find the cheapest price for a two-year fix has risen marginally to 4.30% and can now be found from three different lenders. NatWest, its intermediary arm NatWest Int Sols, and Royal Bank of Scotland (RBS) all offer borrowers two deals at this rate. They each cost £995 in arrangement fees and include a free valuation as an incentive. One deal from each lender additionally comes with £250 cashback which could help to cover moving costs or furnishing your first home. The products from NatWest and NatWest Int Sols are available to borrowers throughout Great Britain and Northern Ireland, while the deals from RBS can be accessed by prospective buyers in Great Britain, the Channel Islands and the Isle of Man.
Meanwhile, the lowest five-year fixed rate available to first-time buyers with a 10% deposit has dropped to 4.33% following cuts from Skipton BS. Its deal can be accessed by borrowers in Great Britain either direct or via intermediaries, however, keep in mind it costs a substantial £1,995 in completion fees and comes with a free valuation as its only incentive.
Those wanting to take advantage of a wider range of incentives could instead consider Nationwide BS’s ‘Helping Hand’ deal that can finance up to 90% LTV at 4.45% for five years. It not only comes with a free valuation and £500 cashback but offers the opportunity to earn an additional £250 cashback if your future home has an EPC rating between 86 and 91, or £500 cashback for a score of 92 or more. This deal is available either directly or via intermediaries to borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) and costs £999 in reservation fees.
Elsewhere, first-time buyers with a smaller deposit of 5% will find the lowest two-year fixed rate held steady this week; The Co-operative Bank for Intermediaries continues to offer the cheapest-priced fixed mortgage in this sector at 4.74%. As the lender’s name suggests, borrowers in Great Britain can apply for this deal via selected intermediaries. It costs £999 in arrangement fees and includes a free valuation as well as £250 cashback as extra perks.
But, as the costs of getting on the property ladder can climb quickly, those wanting to minimise upfront fees could consider a Moneyfacts Best Buy deal from HSBC that comes with no additional product fees. It can finance up to 95% LTV at 4.92% and is available to borrowers in Great Britain and Northern Ireland either direct or via selected intermediaries. What’s more, it includes a free valuation and £250 cashback to further sweeten the deal.
When it comes to securing a longer initial fixed term with a 5% deposit, Leek Building Society continues to charge first-time buyers the lowest five-year fixed rate, albeit at a lower rate of 4.70%. Available direct or via intermediaries to borrowers in England and Wales, this mortgage costs £995 in completion fees and throws in a free valuation as an incentive. But, while it earns a spot on our Moneyfacts Best Buy chart based on these factors, those wanting to save on upfront costs could consider another Moneyfacts Best Buy deal from Leek Building Society which can finance 95% LTV at 4.75% and comes with a smaller, £495 completion fee.
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