Current Rate Ranges Across All LTV Bands
UK mortgage rates are sitting between 3.9% and 6.4% right now. Where you land depends on your deposit, your credit history, your income type, and which lender your application goes to.
The rates advertised online are not the rates most people receive. Lenders reserve their sharpest pricing for lower-risk applications – larger deposits, clean credit, and straightforward income. Two buyers purchasing identical properties on the same day can receive mortgage offers that differ by more than a percentage point.
This page sets out current rate ranges by LTV band, real monthly payment examples, and exactly what moves your rate in either direction. For how much you can actually borrow, see our how much can I borrow guide.
Current Mortgage Rates UK
Rates move regularly but these are realistic ranges for UK borrowers in 2026.
60% LTV – 40% deposit
| Mortgage Type | Typical Rate Range |
|---|---|
| 2-Year Fixed | 3.9% – 4.5% |
| 5-Year Fixed | 4.1% – 4.8% |
| Tracker | 4.3% – 5.1% |
The sharpest rates in the market sit here. A 40% deposit puts you in the lowest risk bracket most lenders operate and the pricing reflects it.
75% LTV – 25% deposit
| Mortgage Type | Typical Rate Range |
|---|---|
| 2-Year Fixed | 4.2% – 5.0% |
| 5-Year Fixed | 4.4% – 5.2% |
| Tracker | 4.7% – 5.5% |
This is where most home movers and remortgage customers land. Competitive rates are still available here but the range is wider – lender appetite and your wider profile matter more at this LTV.
90% LTV – 10% deposit
| Mortgage Type | Typical Rate Range |
|---|---|
| 2-Year Fixed | 5.2% – 6.4% |
| 5-Year Fixed | 5.0% – 6.1% |
| Tracker | 5.5% – 6.7% |
Fewer lenders operate at 90% LTV and those that do price to reflect the additional risk. A 10% deposit is enough to get on the ladder but the rate difference compared to 25% or 40% is significant over a full mortgage term.
Fixed vs Tracker vs Variable Rates
The rate matters. The type of mortgage matters just as much.
Fixed Rate Mortgages
Your rate is locked for a set period – usually two or five years. Whatever happens to the Bank of England base rate or the wider market during that time, your monthly payment stays the same.
Two-year fixes give you flexibility sooner. You can review your options at the end of the term, which suits borrowers who expect their circumstances to change – income increasing, property value rising, or rates potentially dropping.
Five-year fixes cost slightly more at the start but give longer certainty. For most buyers who want to budget without surprises, a five-year fix is the default choice right now.
Tracker Mortgages
Tracker mortgages follow the Bank of England base rate, usually sitting a fixed percentage above it. If the base rate falls, your payment falls with it. If it rises, your payment rises.
Trackers can work well when rates are expected to fall and you are comfortable with the monthly payment moving. They tend to carry fewer early repayment charges than fixed deals, which gives more flexibility if your situation changes.
Standard Variable Rate
When a fixed or tracker deal ends, most borrowers roll onto their lender’s Standard Variable Rate. SVRs are set entirely by the lender and are almost always higher than the rate you were on – sometimes significantly so.
Most borrowers do not need to be on an SVR. If your fixed deal is ending in the next six months, it is worth reviewing now rather than waiting. Rolling onto an SVR without acting is one of the most common and avoidable ways people overpay on their mortgage.
What Affects Your Mortgage Rate
Mortgage rates are risk-based. The lower the risk you represent to a lender, the better the rate you are likely to be offered. These are the factors that move it.
Deposit Size
Deposit is the main driver. Every step up in LTV adds cost. Going from a 10% deposit to a 25% deposit is not just a bigger upfront payment – it opens up a different tier of lenders, more product options and meaningfully lower monthly payments for the life of the mortgage.
Income Type
Employed applicants on PAYE get the straightforward assessment. Self-employed, contractors, and those earning from several sources face more scrutiny – lenders assess income differently depending on how it is earned and how reliably it can be evidenced. The same gross figure can produce a very different borrowing limit depending on how it is structured.
Credit History
Missed payments, defaults, CCJs, and payday loan history all affect what lenders will offer and at what rate. Some lenders specialise in adverse credit and will consider applications that others decline outright. Clean credit opens up the full market.
Property Type
Standard residential property in good condition gets the widest lender choice and the most competitive rates. Short lease flats, non-standard construction, properties above commercial units, and high-rise blocks all narrow the lender pool and can push rates up regardless of the borrower’s own profile.
Loan Size
From certain loan sizes – typically £500,000 and above – lenders price differently. Large loan mortgages attract specialist underwriting and in some cases better rates than mid-market borrowing, particularly for high-income applicants with large deposits.
Example Monthly Payments
The rate is only part of the picture. Here is what different rates actually cost each month on two common loan sizes, based on a 25-year repayment mortgage.
£200,000 Mortgage
| Interest Rate | Monthly Payment |
|---|---|
| 4.00% | £1,055 |
| 5.00% | £1,169 |
| 6.00% | £1,289 |
£400,000 Mortgage
| Interest Rate | Monthly Payment |
|---|---|
| 4.00% | £2,111 |
| 5.00% | £2,338 |
| 6.00% | £2,578 |
The difference between a 4% and 6% rate on a £400,000 mortgage is £467 per month – £5,604 per year. Over a five-year fixed term that gap runs to over £28,000.
That is not a marginal difference. It is what makes lender selection and deposit size decisions worth getting right before any application goes in.
Use our simple mortgage calculator to run your own figures before you speak to anyone.
Should You Fix Now or Wait?
This is the question most borrowers ask. The honest answer is that nobody can predict rates correctly – not brokers, not economists, not the Bank of England.
What you can control is the decision you make based on your own situation.
The Case for Fixing Now
Rates are lower than they were in 2023 and 2024. If you are buying or coming off a fixed deal, the current range locks in a known payment for two or five years. If rates rise again, you are protected. If they fall, you can review your options at the end of the term.
The Case for Waiting
Inflation has been falling and the Bank of England has been cutting the base rate through 2024 and into 2025. There is an argument that fixed rates could fall further. But waiting costs money too – if you are on an SVR while you wait, you are almost certainly paying more than any available fixed deal right now.
What Most Borrowers Do
Most people who use a broker end up on a five-year fix. It is not always the cheapest option on day one but it removes the uncertainty and the decision-making for half a decade. For first-time buyers and home movers who want to budget with confidence, that has real value.
One Thing Worth Knowing
Many lenders allow you to secure a rate up to six months before you need it. If you are remortgaging, that means you can lock in now and complete when your current deal ends – without paying early repayment charges. Most borrowers do not know this is possible until their broker tells them.
How to Get the Best Mortgage Rate
The lowest advertised rate is not always the best deal. Arrangement fees, early repayment charges, and lender criteria all affect the true cost. Here is what actually makes a difference.
Increase Your Deposit If You Can
Every LTV band you move down opens up better pricing and more lenders. Going from 10% to 15% or from 25% to 40% is not always possible but where it is, the long-term saving usually outweighs the short-term cost of putting more in.
Sort Your Credit File Before You Apply
Check it. Not after you have found a property – before. Errors on credit files are more common than people expect and they can affect your rate or cause a decline. Closing unused credit accounts, paying down existing balances, and not applying for new credit in the months before a mortgage application all help.
Know Your Income Before a Lender Does
If you are self-employed, have rental income, or earn bonuses, understand how a lender will assess that income before you apply. The figure on your payslip and the figure a lender will use are often different. Getting this wrong at application stage causes delays and occasionally declines.
Use a Whole-of-Market Broker
High street banks only offer their own products. A whole-of-market broker accesses every lender in the market – including specialist lenders who do not deal with borrowers directly. The right lender for your profile is not always the one with the most advertising. It is the one whose criteria fit your situation and whose pricing reflects the strength of your application.
Apply at the Right Time
Rates can move week to week. If you are remortgaging, start looking four to six months before your current deal ends. If you are buying, get an agreement in principle in place before you find a property – not after.
Conclusion
Mortgage rates are not fixed. They are a range – and where you land within that range depends on decisions you can influence before any application goes in.
Deposit size, credit file, income structure, and lender selection all move the rate you are offered. The difference between the best and worst outcome on the same application can run to more than a percentage point. On a £300,000 mortgage over 25 years that is a meaningful amount.
Sort the deposit right. Understand how your income will be assessed. Use a broker who can access the full market and knows which lenders will price your application most competitively. Those three things have more impact on your rate than anything else.
Frequently Asked Questions
What are current UK mortgage rates?
Most UK borrowers are seeing rates between 3.9% and 6.4% right now. A 40% deposit with clean credit puts you toward the bottom of that range. A 10% deposit or credit issues pushes you toward the top.
What is the difference between a fixed and tracker mortgage?
Fixed means your payment does not move for the term you choose. Tracker means it can – up or down – in line with the Bank of England base rate. Most buyers are choosing fixed right now.
How much does a 1% difference in mortgage rate cost?
On a £300,000 mortgage over 25 years, a 1% difference adds roughly £150-£160 per month. Over a five-year fixed term that runs to around £9,000. The rate you secure matters more than most realise.
What deposit do I need to get the best mortgage rates?
A 40% deposit puts you in the lowest LTV band where the sharpest rates sit. A 25% deposit still gets competitive terms. Below 15%, lender options drop and rates rise.
Can I get a mortgage with bad credit?
Yes – but your options narrow and the rate will reflect the additional risk. Some lenders specialise in adverse credit. A whole-of-market broker can identify which lenders will consider your application first.
When should I start looking at remortgaging?
Four to six months before your current deal ends. Most lenders allow you to secure a rate that far in advance. Starting early means you avoid rolling onto SVR.
What is a Standard Variable Rate?
The rate your lender moves you onto when your fixed or tracker deal ends. SVRs are set by the lender and are typically significantly higher than fixed rates. Most borrowers do not need one.
Does the type of property affect my mortgage rate?
Yes – unusual property types narrow the lender pool and can push rates up. Short lease flats, non-standard construction, and properties above commercial units all affect which lenders will consider the application.
Find Out What Rate You Can Actually Get
Most people searching for mortgage rates are trying to answer one question before they speak to anyone: what will I actually pay?
The answer depends on your deposit, your income, your credit file, and which lender you end up in front of. The advertised rates are a starting point – your rate is different.
UK Mortgage Broker is a whole-of-market broker directly authorised and regulated by the Financial Conduct Authority. We look across every lender in the market – not just the ones on the high street – and find the rate that fits your actual situation.
Get in touch today and most clients have an agreement in principle within 24 to 48 hours.
Call us on +44 1628 969 500
Email: [email protected]