Current mortgage rates
If you’re planning to buy a home this year, you can stay up to date on the current mortgage rates available in the UK using our interest rate trackers below.
Lenders change the rates of their mortgage products regularly, so we keep track of the average mortgage rates, comparing how they’re changing over time.
To understand how the average UK mortgages rates impact your home moving plans, you can compare mortgage rates across a range of loan to value (LTV) percentages and fixed-term plans.
What’s happening with UK mortgage and interest rates in March 2026?
Since December, the Base Rate has been held at 3.75%. However, recent uncertainty in global politics, including the outbreak of war in the Middle East, has made financial markets more unpredictable.
That’s important because these market movements affect ‘swap rates’, which are one of the key factors lenders consider when setting the cost of fixed‑rate mortgages. Matt Smith, our mortgage expert explains:
“Ongoing geopolitical uncertainty has made financial markets more volatile. That volatility feeds into swap rates, which are the underlying costs lenders use to price fixed‑rate mortgages. As a result, some mortgage rates have increased this month, even though the Bank Rate itself hasn’t changed. Mortgage lenders are being understandably cautious in this environment.
“The key takeaway from the Bank of England’s decision in March, is that there’s no expectation of a Bank Rate rise soon, Mortgage rates remain well below the highs seen last year.
“With house asking prices broadly stable for spring, many lenders are still competing strongly and there’s plenty of choice available even against an uncertain global backdrop.”
What are the current UK mortgage interest rates in March?
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
|---|---|---|---|
| 2-year fixed | 5.19% | +0.35% | +0.33% |
| 5-year fixed | 5.20% | +0.28% | +0.48% |
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
|---|---|---|---|
| 2-year fixed | 4.47% | +0.41% | +0.61% |
| 5-year fixed | 4.64% | +0.34% | +0.68% |
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Mar 2026 |
Avg rate 28 Mar 2026 |
Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 95% | 2-year-fixed | 5.52% | 5.87% | +0.35% | +0.21% |
| 95% | 5-year-fixed | 5.60% | 5.79% | +0.19% | +0.44% |
| 90% | 2-year-fixed | 4.98% | 5.36% | +0.38% | +0.19% |
| 90% | 5-year-fixed | 5.02% | 5.31% | +0.29% | +0.40% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Mar 2026 |
Avg rate 28 Mar 2026 |
Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 85% | 2-year-fixed | 4.74% | 5.09% | +0.35% | +0.26% |
| 85% | 5-year-fixed | 4.85% | 5.16% | +0.31% | +0.46% |
| 75% | 2-year-fixed | 4.64% | 5.03% | +0.39% | +0.41% |
| 75% | 5-year-fixed | 4.76% | 5.05% | +0.29% | +0.52% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Mar 2026 |
Avg rate 28 Mar 2026 |
Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 60% | 2-year-fixed | 4.30% | 4.69% | +0.39% | +0.45% |
| 60% | 5-year-fixed | 4.50% | 4.80% | +0.30% | +0.59% |
Lowest fixed-term mortgage rates for first-time buyers with 5-15% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Mar 2026 |
Avg rate 28 Mar 2026 |
Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 95% | 2-year-fixed | 4.85% | 5.45% | +0.60% | +0.57% |
| 95% | 5-year-fixed | 5.08% | 5.28% | +0.20% | +0.43% |
| 90% | 2-year-fixed | 4.52% | 4.90% | +0.38% | +0.32% |
| 90% | 5-year-fixed | 4.65% | 4.86% | +0.21% | +0.38% |
| 85% | 2-year-fixed | 4.24% | 4.73% | +0.49% | +0.50% |
| 85% | 5-year-fixed | 4.49% | 4.83% | +0.34% | +0.51% |
These rates are provided by Podium and are an average based on 21 lenders’ rates, which equates to 95% of the mortgage market. We exclude some specialist lenders that may offer higher rates, such as to borrowers with poor credit histories. This is to ensure our average figures represent the majority of mortgage options.
Average monthly mortgage repayments by average house price
Whilst it helps to stay on top of weekly average mortgage rates, it’s crucial to know how this affects your monthly mortgage payments and general affordability. To help you understand how these changes in rates affect your monthly payments, we’ve illustrated the average monthly mortgage repayments based on average house prices, average monthly interest rate and LTV.
Based on an average interest rate of 4.78%, the national average monthly mortgage payment is £1,697, based on the average asking price of a home being £371,042.
| LTV (loan-to-value) | Average house price (Mar 2026) | Average 2-year fixed mortgage rate | Monthly payments | |
|---|---|---|---|---|
| All | 80% | £371,042 | 4.78% | £1,697 |
| All | 75% | £371,042 | 4.78% | £1,591 |
| All | 60% | £371,042 | 4.78% | £1,273 |
| First-time buyer* | 90% | £226,955 | 4.78% | £1,168 |
| First-time buyer* | 80% | £226,955 | 4.78% | £1,038 |
Source: Rightmove House Price Index and Podium data
*First-time buyer homes includes all 2-bed properties and smaller that come to market (houses and flats).
Average monthly payments for first-time buyers
First-time buyers are now looking at lower monthly mortgage payments than this time last year. The typical first-time buyer property (excluding London) is £226,955. For someone taking out an average two-year fixed, 80% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,038 per month, if repaying over 25 years. This is up from £975 in February, but still down from £1,062 in January 2025.
Mortgage rates FAQs
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What is a mortgage interest rate?
A mortgage rate is the interest your lender charges you for borrowing money to buy a home. It shows the additional cost of borrowing money to buy your home.
Mortgage rates are shown as a percentage, and help you to determine how much money you’ll repay each month, as well as the total cost of your mortgage over time.
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What are the best UK mortgage rates currently?
Mortgage lenders update their rates regularly; while we can show you the most competitively priced mortgage rates available today, the rate you receive from a lender will depend on your personal circumstances. These offers won’t be available to everyone and there could be additional fees associated with the best priced rates, so it’s important to check the terms before proceeding.
Rather than focusing on a single ‘best’ rate, we help you to compare the lowest advertised rates, based off LTV amount or length of term.
To get a more personalised rate estimation, you can then use our mortgage calculators to see what you’re likely to be offered. Our mortgage calculator gives you a personalised view of your options without affecting your credit score, helping you feel confident about your next steps.
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What are the different types of mortgages?
There are several types of mortgages, each suited to different needs:
- Fixed‑rate mortgages: your interest rate stays the same for a set period, so your monthly payments won’t change.
- Tracker mortgages: the interest rate moves in line with the Bank of England base rate, so your payments can go up or down.
- Standard Variable Rate (SVR) mortgages: you move to this rate when your initial deal ends; it can change at your lender’s discretion.
- Discount (variable) mortgages: you get a discounted rate on your lender’s standard variable rate (SVR) for a set period; your payments can still change.
- Offset mortgages: your savings are linked to your mortgage, helping reduce the interest you pay.
- Interest‑only mortgages: you pay only the interest each month and repay the full loan at the end of the term.
Learn more about choosing a mortgage term that suits your circumstances.
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How often do mortgage rates change?
Mortgage rates in the UK can change frequently, as lenders regularly adjust their product rates in response to market conditions. The Bank of England’s Base Rate strongly influences mortgage rates, particularly tracker mortgages, and this is reviewed every six weeks. Any changes to the Base Rate can lead to updated mortgage rates.
While you may not see dramatic changes day to day, it’s normal for mortgage rates to change frequently.
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How much can you borrow with a mortgage?
The amount you can borrow with a mortgage is determined by an affordability assessment and your interest rate is determined by the amount of deposit you have, otherwise known as loan-to-value (LTV).
LTV is expressed as a percentage, and it reflects the size of the mortgage you need as a proportion of the value of the home you want to buy. The bigger the deposit you have, the lower the LTV, and vice-versa.
A good way to find out how much you could borrow is to use a Mortgage Calculator. And to get a personalised result by applying for a Mortgage in Principle which will take you one step closer to a mortgage offer.
Check the current average Remortgage Rates here, and explore options with our Remortgage Calculator.
Please note: Your home may be repossessed if you do not keep up repayments on the mortgage. Rightmove is not authorised to give financial advice; the information and opinions provided in these articles are not intended to be financial advice and should not be relied upon when making financial decisions. Please seek advice from a regulated mortgage adviser.
