Mortgages · Updated July 2026
Best UK Mortgage Rates 2026
The cheapest UK mortgage rate is not the one with the lowest headline number — it's the one with the lowest total cost over the deal period. We've ranked the best 2026 deals for buyers and remortgagers by true APRC.
Our top picks
- #1
Best 2-year fixed (60% LTV)
Cheapest overall3.99% APRCMin: 40% deposit2-year fixedPros
- Lowest headline rate on the market
- Flexibility to remortgage in 2 years
- 10% overpayments allowed
Cons
- £999 arrangement fee
- 60% LTV needed — huge deposit
Best for: Downsizers and remortgagers with significant equity. - #2
Best 5-year fixed (75% LTV)
Best for stability4.15% APRCMin: 25% deposit5-year fixedPros
- Rate certainty for 5 years
- Portable to a new home
- Fee-free option available
Cons
- Early repayment charges ~5% year 1, tapering
Best for: Buyers who want budgeting certainty and won't move within 5 years. - #3
Best first-time buyer (95% LTV)
Best FTB5.29% APRCMin: 5% deposit5-year fixedPros
- Only 5% deposit needed
- 5-year rate lock
- No arrangement fee
Cons
- Higher rate reflects higher LTV band
Best for: First-time buyers who've saved a 5% deposit and want long-term stability. - #4
Best tracker
Best for cutsBoE + 0.35% (currently 4.85%)Min: 25% deposit2-year trackerPros
- No ERC — leave any time
- Immediate benefit from BoE cuts
- Move to fix later
Cons
- Exposure to BoE rises
Best for: Borrowers expecting UK rate cuts in 2026 who can afford a temporary rise. - #5
Best remortgage deal
Best remortgage4.05% APRCMin: 40% equity5-year fixedPros
- Free legals and valuation
- Fee-free
- 10% overpayments
Cons
- Requires 60% LTV or lower
Best for: Owners rolling off a cheap 5-year fix from 2021.
How to choose
Total cost > headline rate
A 3.99% deal with a £1,999 fee can cost more than a 4.25% fee-free deal on loans under £150,000. Use our mortgage calculator to compare true 2-year and 5-year cash outlay.
LTV bands unlock big savings
Rates step down sharply at 90%, 85%, 75% and 60% LTV. Overpaying by £2,000 to drop a band can save £40+/month.
Fix vs tracker
Fixes lock certainty; trackers move with base rate. If you'd lose sleep over a 1% hike, fix. If you expect cuts and have income headroom, track.
Use a whole-of-market broker
Brokers see deals direct lenders don't advertise — and many are fee-free. Skipping this can cost thousands.
FAQs
- Will UK mortgage rates fall in 2026?
- Markets are pricing in gradual Bank of England cuts through 2026, but not to 2021 levels. Most economists expect fixed rates around 3.5–4.5% by year-end 2026.
- How much can I borrow?
- Most lenders offer 4.5× income. Some offer 5.5× for higher earners or specific professions. Use our mortgage calculator to model affordability.
- Should I remortgage now or wait?
- If your fix ends within 6 months, lock a new deal now — you can usually switch to a cheaper deal if rates fall before completion.