Updated 2026-06-11
UK Mortgage Rates Update
Where UK mortgage rates sit right now, what's moving, and what it means for anyone looking to apply or remortgage. Refreshed after every Bank of England rate decision by Phillip Wakeling-Smith (CeMAP).
Headline rates
BoE Base Rate
3.75%
since December 2025
Typical 2/5-yr fixes
3.5–4.5%
varies by LTV
Next MPC decision
2026-06-18
announced 12pm UK
What's moving
- The Bank of England held the base rate at 3.75% — unchanged since the move that took effect in Dec 2025.
- Mainstream 2 and 5-year fixed rates are broadly in the 3.5–4.5% range depending on LTV; trackers commonly price at base + 0.5–1.5%.
- Lender stress rates remain around 6–8.5% for residential affordability, keeping a buffer above product rates.
Should I fix or wait?
With the base rate on hold and markets split on the timing of further cuts, many borrowers are choosing 2-year fixes to stay flexible. 5-year fixes lock in today's pricing but tie you in if rates fall further. Use our 2-vs-5-year live comparison tool to see which is cheaper for your specific loan size.
See how today's rates affect your borrowing
Our calculator runs your figures against current lender criteria — including the stress rates lenders apply right now.
Check My Affordability
