Last updated: 26 November 2025 at 12:45
Latest UK mortgage news: Mortgage rates remain stable as high-value properties get hit with extra tax in Autumn Budget.
While some mortgage lenders have made reductions over the past week, the lowest fixed rates remain unchanged.
This limited activity may be because lenders were waiting to see what would be announced in today’s Autumn Budget statement (26 November) and how it could affect the housing market.
As many expected, Chancellor of the Exchequer, Rachel Reeves, set out plans for a so-called “mansion tax”, an additional levy on more expensive properties. This new High Value Council Tax Surcharge (HVCTS) will apply to owners of residential properties worth £2 million or more from April 2028, alongside the existing council tax charges. The surcharge will range from £2,500 to £7,500, with the Government saying this will affect fewer than 1% of UK properties.
“Unsurprisingly, the controversy around such property tax changes could steer sellers to feel rushed to transact before the levy comes into force, but homeowners should always seek advice before making any rash decisions,” Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, warned.
It remains to be seen what impact this tax and the other Budget announcements will have on the mortgage market, but lenders will no doubt be monitoring the situation closely to help them decide where to price their deals.
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: 26/11/2025
Rate: 3.72% fixed until 2 March 2028 before reverting to 6.75%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.3%
Representative example: £210,000 mortgage over 25 years initially at 3.72% fixed for 27 months reverting to 6.75% variable for term. 27 monthly payments of £1076.25 and 273 monthly payments of £1421.36. Total amount payable £418,694.03 includes loan amount, interest of £207,090, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 3.80% fixed until 2 March 2029 before reverting to 6.75%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.1%
Representative example: £210,000 mortgage over 25 years initially at 3.80% fixed for 39 months reverting to 6.75% variable for term. 39 monthly payments of £1085.40 and 261 monthly payments of £1409.21. Total amount payable £411,738.41 includes loan amount, interest of £200,134, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 3.83% fixed until 28 February 2031 before reverting to 6.49%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.5%
Representative example: £210,000 mortgage over 25 years initially at 3.83% fixed for 63 months reverting to 6.49% variable for term. 63 monthly payments of £1088.84 and 237 monthly payments of £1355.59. Total amount payable £391,345.75 includes loan amount, interest of £179,872, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.5% APRC representative.
Rate: 3.83% fixed until 2 March 2031 before reverting to 6.75%
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 3.83% fixed for 63 months reverting to 6.75% variable for term. 63 monthly payments of £1088.84 and 237 monthly payments of £1383.31. Total amount payable £398,045.39 includes loan amount, interest of £186,441, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.7% APRC representative.
Like last week, Santander continues to dominate the lowest rates for remortgage borrowers. Those wanting a two-year fix can find a deal from Santander at 3.72% (which features as a Moneyfacts Best Buy), with the bank also offering the lowest three- and five-year fixed rates at 3.80% and 3.83% respectively. All these deals can finance up to 60% loan-to-value and are available across Great Britain and Northern Ireland. While Santander charges a £999 arrangement fee on these deals, they also come with a free valuation (up to £1,190) for borrowers in England, Wales and Northern Ireland or £95 towards valuation costs for those in Scotland, as well as the choice of free legal fees or £250 cashback. Borrowers can apply for these fixed remortgage deals from Santander directly or via an intermediary.
After reducing rates last week, HSBC joins Santander in offering a deal at the lowest five-year fixed rate of 3.83% to those in Great Britain and Northern Ireland. This option also charges a £999 product fee and has a maximum LTV of 60% but, as incentives, it offers a free valuation to all borrowers along with a higher £300 cashback or free legal fees. To apply for this deal, borrowers can go to HSBC directly or via a selected intermediary.
However, many remortgage borrowers may require a deal that can finance a larger proportion of their home. For those who want a two-year fix with a maximum LTV of 75%, Santander offers another Moneyfacts Best Buy at 3.81% which, like the deals above, comes with a £999 arrangement fee and offers the same package of incentives. It’s available to borrowers in Great Britain and Northern Ireland from the lender directly or an intermediary.
Meanwhile, a three-year fix from Halifax charges 4.17% and can finance a higher 80% LTV. Earning a place as a Moneyfacts Best Buy, this option may particularly appeal to those in an energy-efficient home as it offers a £250 Green Home Cashback for properties with an Energy Performance Certificate (EPC) rating of 81 or higher, in addition to a free valuation. Borrowers in Great Britain and Northern Ireland can apply for this three-year fix from Halifax directly.
Also featuring on our Moneyfacts Best Buy chart is a five-year fix from Cumberland BS at 4.13%. Borrowers in Great Britain can use this deal to finance up to 80% of their property and can receive the perks of a free valuation (on properties up to £750,000) and free legal fees. However, it charges a £999 arrangement fee. The deal is available from the lender or via a selected intermediary.
Last updated: 26/11/2025
Rate: 3.55% fixed until 2 March 2028 before reverting to 6.75%
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 3.55% fixed for 27 months reverting to 6.75% variable for term. 27 monthly payments of £1258.27 and 273 monthly payments of £1689.78. Total amount payable £496,557.23 includes loan amount, interest of £245,283, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.
Rate: 3.60% fixed until 2 March 2029 before reverting to 6.75%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.0%
Representative example: £250,000 mortgage over 25 years initially at 3.60% fixed for 39 months reverting to 6.75% variable for term. 39 monthly payments of £1265.01 and 261 monthly payments of £1673.73. Total amount payable £487,452.92 includes loan amount, interest of £236,179, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.0% APRC representative.
Rate: 3.76% fixed until 2 March 2031 before reverting to 6.75%
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 3.76% fixed for 63 months reverting to 6.75% variable for term. 63 monthly payments of £1286.69 and 237 monthly payments of £1644.62. Total amount payable £472,110.41 includes loan amount, interest of £220,836, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.6% APRC representative.
Similar to the remortgage section, Santander continues to offer the lowest two-, three- and five-year fixed rates for those moving home at 3.55%, 3.60% and 3.76% respectively. Borrowers in Great Britain and Northern Ireland are eligible to apply for these deals from Santander directly or through an intermediary to finance up to 60% of the value of their new property purchase. These deals come with a £999 arrangement fee and the extra perks of a free valuation (up to £1,190) and £250 cashback, with all three options earning a place on our Moneyfacts Best Buy charts.
Santander also offers a range of other deals that feature as Moneyfacts Best Buys, including a two-year fix at 3.93% that can finance up to 75% LTV and doesn’t charge any product fees. It also offers a five-year fix at 3.86% with a maximum LTV of 75%, although this deal comes with a £999 arrangement fee. Both options offer the additional incentives of a free valuation (up to £1,190) and £250 cashback. Available across Great Britain and Northern Ireland, borrowers can apply for these deals from Santander directly or via an intermediary.
For an alternative three-year fixed mortgage, first direct offers a Moneyfacts Best Buy deal at 4.06% that has a maximum LTV of 85%. This three-year fix, which can only be applied for from the lender directly, charges a relatively small £490 product fee and offers a free valuation. Homemovers in Great Britain and Northern Ireland are eligible to apply.
Last updated: 26/11/2025
Rate: 4.18% fixed until 29 February 2028 before reverting to 5.99%
Initial period: 2 years
Product fee: £995
Maximum loan-to-value: 90%
APRC: 6.4%
Representative example: £200,000 mortgage over 25 years initially at 4.18% fixed for 27 months reverting to 5.99% variable for 36 months and 6.99% variable for term. 27 monthly payments of £1075.65, 36 monthly payments of £1271.41 and 237 monthly payments of £1374.91. Total amount payable £401,801.98 includes loan amount, interest of £200,667, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.4% APRC representative.
Rate: 4.27% fixed until 31 December 2030 before reverting to 5.99%
Initial period: 5 years
Product fee: £899
Maximum loan-to-value: 90%
APRC: 5.4%
Representative example: £200,000 mortgage over 25 years initially at 4.27% fixed for 61 months reverting to 5.99% variable for term. 61 monthly payments of £1085.72 and 239 monthly payments of £1252.36. Total amount payable £366,571.96 includes loan amount, interest of £165,543, valuation fees of £0 and product fees of £899. The overall cost for comparison is 5.4% APRC representative.
Rate: 4.59% fixed until 30 April 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 4.59% fixed for 29 months reverting to 6.87% variable for term. 29 monthly payments of £1121.91 and 271 monthly payments of £1375.21. Total amount payable £406,366.30 includes loan amount, interest of £205,217, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.61% fixed until 31 March 2031 before reverting to 7.34%
Initial period: 5 years
Product fee: £995
Maximum loan-to-value: 95%
APRC: 6.3%
Representative example: £200,000 mortgage over 25 years initially at 4.61% fixed for 64 months reverting to 7.34% variable for term. 64 monthly payments of £1124.19 and 236 monthly payments of £1397.03. Total amount payable £402,777.24 includes loan amount, interest of £201,647, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.3% APRC representative.
The lowest rates for first-time buyers remain the same as last week. Yorkshire Building Society continues to offer the lowest two-year fixed rate for borrowers in Great Britain and Northern Ireland wanting to finance up to 90% LTV, charging 4.18% alongside a £995 product fee. Borrowers can apply for this two-year fix from the lender directly and, as an additional benefit, will receive a free valuation.
If first-time buyers want a two-year fixed mortgage without any upfront costs, Leeds BS offers a deal at 4.35% that doesn’t charge any product or arrangement fees. This deal, which can finance up to 90% LTV, also comes with the perk of a free valuation (up to £999). Borrowers in England, Wales, mainland Scotland and Northern Ireland can access this two-year fix by applying to Leeds BS or going via an intermediary.
First-time buyers in search of a longer fixed term will find Barclays Mortgage offering the lowest five-year fixed rate of 4.27% on deals with a maximum LTV of 90%. Available from the lender directly or via intermediaries, this five-year fix comes with an arrangement fee of £899 and the perk of a free valuation. Borrowers in Great Britain and Northern Ireland are eligible for this mortgage.
However, first-time buyers purchasing an energy-efficient home could consider a five-year fix from TSB at a slightly higher rate of 4.29% that offers a range of attractive incentives. As well as a free valuation and £500 cashback, those buying a home in Great Britain with an EPC Rating of 81 or higher can receive an extra £250 cashback. This deal comes with a £995 arrangement fee and is available from TSB directly or from a selected intermediary.
Elsewhere, The Co-operative Bank for Intermediaries offers the lowest two-year fixed rate of 4.59% to borrowers in Great Britain with a smaller 5% deposit. This intermediary-only deal charges a £999 arrangement fee and offers the extra benefits of a free valuation and £250 cashback.
But, if first-time buyers with a 5% deposit in Great Britain and Northern Ireland prefer to cut down on upfront costs, HSBC offers a two-year fix at 4.84% that doesn’t charge any product fees. Borrowers can apply for this deal from HSBC directly or via selected intermediaries and will receive the additional incentives of a free valuation and £250 cashback. Considering its overall cost, this two-year fix features on our Moneyfacts Best Buy chart.
Alternatively, first-time buyers needing to finance up to 95% LTV could consider locking into a longer fixed term. Leek Building Society continues to offer a Moneyfacts Best Buy deal at the lowest five-year fixed rate of 4.61% to borrowers in England and Wales, which can be accessed from the lender directly or via an intermediary. First-time buyers will receive a free valuation as an incentive with this five-year fix but will need to factor in the cost of the £995 product fee.
A separate five-year fix from Leek Building Society also appears on our Moneyfacts Best Buy chart. Although it charges a marginally higher rate of 4.66%, it has a lower product fee of £495. This deal comes with a free valuation and, like the option above, it’s available across England and Wales.
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