What Are the Best Mortgage Rates UK?

The best UK mortgage rates are typically found on 2-year and 5-year fixed deals at 60% LTV (40% deposit), ranging from approximately 3.5-4.5% in early 2026. However, rates change daily and the 'best' rate depends on your deposit size, credit history, employment status, and property type. Use a broker to search the whole market and find the lowest rate for your specific circumstances.

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What is the best mortgage rate UK right now?

The best mortgage rates in the UK change daily. As of early 2026, the lowest rates are typically found on 2-year and 5-year fixed deals at 60% LTV, often between 3.5-4.5%. However, the 'best' rate for you depends on your deposit, credit history, and circumstances. Headline rates often require large deposits and perfect credit.

How do I get the lowest mortgage rate?

To get the lowest rate: have a larger deposit (60% LTV or less gets best rates), maintain excellent credit, choose the right product term, consider paying fees for lower rates, and use a broker to access the whole market. Your employment status and property type also affect available rates.

Are 2-year or 5-year fixed rates better?

It depends on rate expectations and your plans. 2-year fixes are currently often cheaper but you'll remortgage sooner (with fees). 5-year fixes offer longer security but slightly higher rates. If you might move within 5 years, a 2-year fix avoids early repayment charges.

Should I wait for mortgage rates to fall?

Timing the market is risky. While rates may fall if Bank of England base rate drops, they could also rise. Waiting means paying rent or staying on a higher SVR. Getting a competitive rate now with the option to remortgage later is often safer than waiting for uncertain future drops.

Why is my mortgage rate higher than advertised rates?

Advertised 'headline' rates require optimal conditions: large deposits (often 60% LTV), perfect credit, standard properties, and employed status. If you have a smaller deposit, any credit issues, are self-employed, or have a non-standard property, your rate will be higher than headlines.

Do mortgage brokers get better rates?

Often yes. Brokers access deals not available directly to consumers (broker-exclusive products), can negotiate with lenders, and know which lenders suit your profile. They search the whole market rather than just one lender's range. Good brokers regularly secure rates better than you'd find alone.

Quick Answer

How Do I Find the Best Mortgage Rate?

Last reviewed: December 2025

Reviewed by Jay Sabine – CeMAP Qualified – 29 years experience

Compare across the whole market using a broker. The lowest rate depends on your deposit size, credit score, and circumstances - not just headline rates.

Finding the best mortgage rate requires looking beyond headline rates advertised by lenders. Those rates typically require 40%+ deposits and perfect credit. Your actual rate depends on your loan-to-value ratio (how much you're borrowing vs property value), credit history, employment type, and property type. A mortgage broker can search thousands of deals across the market - including exclusive products not available directly - to find the lowest rate for your specific situation. They'll also calculate whether a higher fee with lower rate, or lower fee with higher rate, works out cheaper over your intended term.

Your home may be repossessed if you do not keep up repayments on your mortgage. Rates shown are indicative and subject to change.

Key Points

1Headline rates require optimal conditions (60% LTV, perfect credit)
2Your rate depends on deposit, credit, employment, property
3Brokers access exclusive deals not available direct
4Calculate total cost including fees, not just rate
52-year vs 5-year fixed depends on your plans
6Rates change daily - lock in when you find a good deal

Eligibility Criteria

Lowest rates: 60% LTV or less (40%+ deposit/equity)
Excellent credit history with no recent issues
Stable, verifiable income (PAYE typically best)
Standard property type (houses better than flats)
UK resident with right to remain

Typical Timeframe

Mortgage rates change daily. Once you find a good rate, most lenders will 'lock' it for 3-6 months while your application progresses. Rate locks protect you if rates rise during the application process.

Next Steps

1Check your credit report for any issues
2Calculate your loan-to-value ratio
3Speak to a broker about current best rates for you
4Compare total costs (rate + fees) not just rate
5Get a decision in principle to lock your rate

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How Do I Find the Best Mortgage Rate?

Key Points

Eligibility Criteria

Typical Timeframe

Next Steps

Related Questions

What Affects Your Mortgage Rate?

Loan to Value (LTV)

Credit Score

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Product Fee

Property Type

Employment

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