Last updated: 3 September 2025 at 14:10
Many of the cheapest-priced fixed rates climb higher this week, as house price growth slows.
The average cost of a house in the UK fell by 0.1% in the month to August, according to Nationwide BS’ latest House Price Index, dropping to £271,079. Meanwhile, annual house price growth slowed to 2.1% from 2.4% seen previously in July.
Alice Haine, Personal Finance Analyst at Bestinvest by Evelyn Partners, believes these figures reflect recent changes in seller behaviour, who are now “pricing more realistically in a bid to secure deals” after initially inflating prices.
However, further weighing on the market is the looming Autumn Budget, which was announced today (3 September) to be taking place later than usual on 26 November. This could now see many sellers adopt a wait and see approach.
“Speculation is mounting over further property tax reforms, just months after the market was forced to absorb the end of the stamp duty break,” Haine continued.
As a result, prospective borrowers may wish to lock in mortgage prices in case of any potential spikes in the market in the coming weeks. Many of the lowest fixed rates have indeed started rising since last week across various sectors, including the cheapest two-year price for homemovers, which climbed from 3.75% to 3.78%.
Below, we provide more information on the lowest fixed mortgage rates available to first-time buyers, as well as remortgage borrowers and homemovers. Keep in mind, though, the lowest rate may not always be the most cost-effective for your needs and circumstances. That’s why we’ve also offered some alternatives which feature on our Moneyfacts Best Buy charts based on their overall true cost.
For a wider overview of the market, see the latest mortgage rates.
While we highlight the lowest rates, the cheapest deal isn’t always the best. Fees, incentives and your personal circumstances all matter. If you’re unsure, it’s worth speaking to a mortgage broker for tailored advice.
Last updated: 03/09/2025
Rate: 3.80% fixed until 30 November 2027 before reverting to 6.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.2%
Representative example: £210,000 mortgage over 25 years initially at 3.80% fixed for 26 months reverting to 6.49% variable for term. 26 monthly payments of £1085.40 and 274 monthly payments of £1391.71. Total amount payable £411,022.94 includes loan amount, interest of £199,549, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
Rate: 3.86% fixed until 31 January 2029 before reverting to 6.87%
Initial period: 3 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 6.2%
Representative example: £210,000 mortgage over 25 years initially at 3.86% fixed for 40 months reverting to 6.87% variable for term. 40 monthly payments of £1092.29 and 260 monthly payments of £1423.15. Total amount payable £415,189.60 includes loan amount, interest of £203,711, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.2% APRC representative.
Rate: 3.85% fixed for five years before reverting to 6.49%
Initial period: 5 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 5.6%
Representative example: £210,000 mortgage over 25 years initially at 3.85% fixed for 60 months reverting to 6.49% variable for term. 60 monthly payments of £1091.14 and 240 monthly payments of £1359.09. Total amount payable £392,520.00 includes loan amount, interest of £181,650, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.6% APRC representative.
Remortgage borrowers may be disappointed to see the cheapest-priced two year rate creeping up to 3.80% this week after Santander hiked a selection of its products. This leaves HSBC charging this price on one of its deals, which is available to borrowers across Great Britain and Northern Ireland at a 60% loan-to-value (LTV) ratio. This option requires a £999 booking fee and includes a free valuation as well as the choice between free legal fees or £300 cashback.
For those in Great Britain and Northern Ireland with less equity in their home, first direct can service 75% LTV on a two-year mortgage charging 4.02%. Not only does this deal feature as a Moneyfacts Best Buy, it also comes with a smaller £490 booking fee and includes a free valuation as well as free legal fees as extra perks.
Conversely, remortgage borrowers in Great Britain will find the lowest three-year fixed rate observed a welcome dip to 3.86%, down from 3.89%, and is still offered by The Co-operative Bank for Intermediaries. Its deal can finance 60% LTV and requires a £999 arrangement fee, though keep in mind it’s only available via intermediaries. Adding to its appeal, borrowers can access an array of incentives, including a free valuation, free legal fees and £250 cashback.
Again, those needing a higher LTV will need to turn to alternative options, which could include a three-year mortgage from Furness BS that’s able to accommodate 80% LTV. Priced at 4.23%, it similarly costs £999 in booking fees and has a lending area encompassing Great Britain. In this case, borrowers can benefit from a free valuation (up to a value of £665) as well as £250 cashback. It also earns a spot as a Moneyfacts Best Buy.
Meanwhile, first direct now charges the lowest five-year fixed rate in this area of the market, which rose to 3.85%. Its deal caters for 60% LTV and includes a £490 booking fee, offering a free valuation and free legal fees as a bonus. Note this mortgage can only be applied for directly from the lender across Great Britain and Northern Ireland.
Borrowers could also consider another five-year offering from the lender, which at 3.99%, can finance 75% LTV. While this particular deal is subject to the same terms, it earns a spot on our Moneyfacts Best Buy chart.
Last updated: 03/09/2025
Rate: 3.78% fixed for two years before reverting to 6.49%
Initial period: 2 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 6.2%
Representative example: £250,000 mortgage over 25 years initially at 3.78% fixed for 24 months reverting to 6.49% variable for term. 24 monthly payments of £1289.41 and 276 monthly payments of £1658.88. Total amount payable £489,336.72 includes loan amount, interest of £238,797, valuation fees of £0 and product fees of £490. The overall cost for comparison is 6.2% APRC representative.
Rate: 3.78% fixed until 30 November 2027 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 3.78% fixed for 26 months reverting to 6.49% variable for term. 26 monthly payments of £1289.41 and 274 monthly payments of £1656.54. Total amount payable £488,560.62 includes loan amount, interest of £237,417, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 3.78% fixed until 30 November 2027 before reverting to 5.99%
Initial period: 2 years
Product fee: £995
Maximum loan-to-value: 60%
APRC: 6.4%
Representative example: £250,000 mortgage over 25 years initially at 3.78% fixed for 26 months reverting to 5.99% variable for 36 months and 7.24% variable for term. 26 monthly payments of £1289.41, 36 monthly payments of £1585.27 and 238 monthly payments of £1747.90. Total amount payable £507,729.58 includes loan amount, interest of £256,595, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.4% APRC representative.
Rate: 3.84% fixed for three years before reverting to 6.74%
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 3.84% fixed for 36 months reverting to 6.74% variable for term. 36 monthly payments of £1297.61 and 264 monthly payments of £1680.85. Total amount payable £491,507.36 includes loan amount, interest of £240,458, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.1% APRC representative.
Rate: 3.90% fixed for five years before reverting to 6.49%
Initial period: 2 years
Product fee: £490
Maximum loan-to-value: 60%
APRC: 5.6%
Representative example: £250,000 mortgage over 25 years initially at 3.90% fixed for 60 months reverting to 6.49% variable for term. 60 monthly payments of £1305.83 and 240 monthly payments of £1619.41. Total amount payable £467,548.20 includes loan amount, interest of £217,008, valuation fees of £0 and product fees of £490. The overall cost for comparison is 5.6% APRC representative.
Rate: 3.90% fixed until 30 November 2030 before reverting to 6.49%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 60%
APRC: 5.5%
Representative example: £250,000 mortgage over 25 years initially at 3.90% fixed for 62 months reverting to 6.49% variable for term. 62 monthly payments of £1305.83 and 238 monthly payments of £1617.09. Total amount payable £466,972.88 includes loan amount, interest of £215,829, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.5% APRC representative.
The lowest two-year fixed rate for homemovers shot up this week following increases from Barclays Mortgage. As a result, first direct now charges the joint-cheapest rate at 3.78% on its deal. Meanwhile, the lender now also offers a five-year option charging the joint-lowest five-year price in the sector at 3.90%. Both of these mortgages are able to finance 60% LTV and cost £490 in booking fees. Available across Great Britain and Northern Ireland, each deal throws in a free valuation as an incentive and feature as Moneyfacts Best Buys.
Likewise, HSBC also charges the same prices on its two- and five-year mortgages at 3.78% and 3.90% respectively. Costing £999 in booking fees, these options cater to borrowers with a 40% deposit and are available directly or via selected intermediaries across Great Britain and Northern Ireland. For those interested in added incentives, both come packaged with a free valuation.
Otherwise, Yorkshire Building Society also charges 3.78% on its two-year deal. Costing £995 in completion fees, it caters to borrowers with a 40% deposit and is available directly across Great Britain and Northern Ireland. In terms of incentives, this option includes a free valuation.
After a three-year homemover deal? Nationwide BS continues to charge the lowest fixed rate which holds at 3.84%, with its deal catering for up to 60% LTV. It costs £999 in reservation fees, however, those moving to a home with an Energy Performance Certificate (EPC) score of 86 to 91 can partially offset this with £250 cashback, or £500 for a score of 92 or more. Regardless, any successful applicant can still receive a free valuation as a perk, with the deal open to borrowers residing in Great Britain and Northern Ireland (excluding the Scilly Isles).
If you don’t qualify for these green incentives, but still want cashback with your deal, you could consider a three-year mortgage from Furness BS. Priced at 4.23%, it throws in a free valuation (up to £665) and £250 in cashback to help with expenses, including its £999 booking fee cost. What’s more, this Moneyfacts Best Buy can service 80% LTV and is available across Great Britain.
Last updated: 03/09/2025
Rate: 4.26% fixed until 30 November 2027 before reverting to 7.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 7.1%
Representative example: £200,000 mortgage over 25 years initially at 4.26% fixed for 26 months reverting to 7.49% variable for term. 26 monthly payments of £1084.60 and 274 monthly payments of £1448.00. Total amount payable £426,100.60 includes loan amount, interest of £224,952, valuation fees of £100 and product fees of £999. The overall cost for comparison is 7.1% APRC representative.
Rate: 4.26% fixed until 30 November 2027 before reverting to 7.49%
Initial period: 2 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 7.1%
Representative example: £200,000 mortgage over 25 years initially at 4.26% fixed for 26 months reverting to 7.49% variable for term. 26 monthly payments of £1084.60 and 274 monthly payments of £1448.00. Total amount payable £426,000.60 includes loan amount, interest of £224,952, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.1% APRC representative.
Rate: 4.26% fixed until 31 January 2028 before reverting to 6.87%
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 4.26% fixed for 28 months reverting to 6.87% variable for term. 28 monthly payments of £1084.60 and 272 monthly payments of £1372.49. Total amount payable £404,835.08 includes loan amount, interest of £203,686, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.
Rate: 4.26% fixed until 30 November 2027 before reverting to 5.99%
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 4.26% fixed for 26 months reverting to 5.99% variable for 36 months and 7.24% variable for term. 26 monthly payments of £1084.60, 36 monthly payments of £1272.76 and 238 monthly payments of £1403.32. Total amount payable £409,144.12 includes loan amount, interest of £208,009, valuation fees of £0 and product fees of £995. The overall cost for comparison is 6.6% APRC representative.
Rate: 4.28% fixed for five years before reverting to 8.24%
Initial period: 5 years
Product fee: £999
Maximum loan-to-value: 90%
APRC: 6.8%
Representative example: £200,000 mortgage over 25 years initially at 4.28% fixed for 60 months reverting to 8.24% variable for term. 60 monthly payments of £1086.84 and 240 monthly payments of £1490.53. Total amount payable £424,151.60 includes loan amount, interest of £222,938, valuation fees of £75 and product fees of £999. The overall cost for comparison is 6.8% APRC representative.
Rate: 4.69% fixed until 30 November 2027 before reverting to 6.74%
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 4.69% fixed for 26 months reverting to 6.74% variable for 36 months and 7.74% variable for term. 26 monthly payments of £1133.34, 36 monthly payments of £1363.20 and 238 monthly payments of £1471.18. Total amount payable £429,930.88 includes loan amount, interest of £228,683, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.1% APRC representative.
Rate: 4.60% fixed for five years before reverting to 7.99%
Initial period: 5 years
Product fee: £1,149
Maximum loan-to-value: 95%
APRC: 6.8%
Representative example: £200,000 mortgage over 25 years initially at 4.60% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £1123.05 and 240 monthly payments of £1471.12. Total amount payable £422,035.80 includes loan amount, interest of £220,452, valuation fees of £260 and product fees of £1149. The overall cost for comparison is 6.8% APRC representative.
First-time buyers in search of a two-year deal with a 10% deposit can once again find a handful of lenders charging the lowest fixed rate this week at 4.26%.
For borrowers in Great Britain and Northern Ireland, deals from Halifax and Lloyds Bank offer this price from £999 arrangement fees. Each mortgage also includes green home cashback incentives, offering £250 when moving to homes with EPC scores of 81 or higher. Borrowers opting for the Lloyds Bank mortgage can also benefit from a free valuation.
However, borrowers in Great Britain can receive £250 cashback and a free valuation without any EPC requirements when choosing the two-year deal from The Co-operative Bank for Intermediaries. Charging the same price, it requires a £999 arrangement fee and caters for the same 90% LTV.
Finally, Yorkshire Building Society also charges 4.26% on its two-year mortgage. In this case, borrowers will need to pay a £995 completion fee but can receive a free valuation as an added incentive. Servicing 90% LTV, you can apply for this deal directly across Great Britain and Northern Ireland.
Meanwhile, the lowest five-year fixed rate for first-time buyers with a 10% deposit continues to be available from Furness BS. Charging 4.28%, its deal can be applied for directly or through an intermediary across Great Britain and costs £999 in booking fees. As a bonus, borrowers can receive a free valuation (up to £665) and £250 cashback.
If you want to beat these extras, you could turn to a five-year option from HSBC charging 4.29%. Alongside a free valuation, this deal also comes with £350 cashback to help manage the expenses of buying your first home and can still finance 90% LTV. This mortgage is available across Great Britain and Northern Ireland, and costs £999 in booking fees.
If you only have a 5% deposit, the lowest two-year rate slipped slightly to 4.69% this week, and is now charged by Leeds BS. Its deal costs £999 in arrangement fees and is available across England, Wales, mainland Scotland and Northern Ireland. Moreover, it comes with a free valuation up to a value of £999.
Want to avoid upfront costs? A two-year deal from HSBC doesn’t include any additional product fees and comes with £250 cashback on top of a free valuation to further boost your finances. Featuring as a Moneyfacts Best Buy, this deal charges 4.94% and caters for up to 95% LTV, available across Great Britain and Northern Ireland.
Elsewhere, Monmouthshire BS again charges the lowest five-year fixed rate for first-time buyers needing 95% LTV. Priced at 4.60%, its mortgage includes a £1,149 arrangement fee and can be applied for across England and Wales, excluding the Scilly Isles, Isle of Man and the Channel Islands. For this mortgage, bear in mind no added incentives are included, though it does feature as a Moneyfacts Best Buy.
Borrowers turning to the Moneyfacts Best Buy chart for an alternative deal can find an option from HSBC that may be worth considering. It charges 4.79%, and like its two-year counterpart, doesn’t include any additional product fees. Likewise, this mortgage caters for 95% LTV and is accessible to borrowers living in Great Britain and Northern Ireland. For those prioritising added incentives, this deal is able to offer a free valuation and £350 cashback.
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