If you are asking what are mortgage rates today, the latest UK market data provides a useful snapshot, but it is important to distinguish averages from the rate you could actually receive. As of 26 September 2026, Rightmove reported an average 2-year fixed mortgage rate of 5.49% and an average 5-year fixed rate of 5.47%. These figures cover around 95% of the mortgage market and are based on products with a fee of roughly £999.
The headline figures are only part of the picture. Rightmove’s data shows that rates vary considerably according to loan-to-value (LTV). For example, average 2-year and 5-year fixed rates at 60% LTV were 5.07% and 5.06% respectively, while average 95% LTV rates were 6.01% and 5.97%. This demonstrates why your deposit can make a substantial difference to the mortgage pricing available to you.
How Mortgage Rates Are Changing in the UK
Mortgage pricing has been changing as lenders respond to financial-market conditions and expectations about the UK economy. Rightmove’s latest September data showed weekly increases in several fixed-rate categories, including the average 2-year and 5-year rates. The organisation also reported that lenders can change mortgage products regularly, meaning a rate seen online one day may not remain available indefinitely.
The Bank of England also provides important context. At its September 2026 meeting, the Monetary Policy Committee voted to maintain Bank Rate at 3.75%. The Bank noted that inflation had reached 3.1% in August and that energy-price developments were creating uncertainty around the inflation outlook. These wider conditions can influence the cost of borrowing and the pricing of new mortgage products.
Mortgage Rates by Fixed Term and Deposit
One of the clearest ways to understand mortgage pricing is to consider both the fixed term and your LTV. A borrower with a 40% deposit generally has a 60% LTV mortgage, while someone putting down 5% has a 95% LTV. Lenders use LTV as one factor when assessing risk, so mortgage pricing can differ substantially between these groups.
The latest Rightmove figures illustrate this difference. At 75% LTV, the average 2-year fixed rate was 5.36% and the average 5-year fixed rate was 5.35% on 26 September. At 90% LTV, the corresponding figures were 5.60% and 5.56%. At 95% LTV, they reached 6.01% and 5.97%. These figures show why increasing your deposit can affect the range of products available.
What Affects the Mortgage Rate You Can Get?
Your deposit is only one part of the mortgage application. Lenders can also consider affordability, income, credit history, employment circumstances, property details and the amount you want to borrow. Consequently, two people looking at the same property may not necessarily receive identical mortgage offers, even if they choose the same fixed period.
Fees also matter when comparing mortgages. A product with a lower interest rate may have a sizeable arrangement fee, while another deal could have a slightly higher rate but lower upfront costs. Looking only at the percentage rate can therefore give an incomplete picture. Comparing the overall cost over the initial deal period can provide a more useful basis for understanding different mortgage options.
Fixed, Tracker and Variable Mortgage Rates Explained
Fixed-rate mortgages keep the agreed interest rate unchanged for a specified period, commonly two or five years. This can make monthly payments more predictable during the fixed period, although the rate itself will depend on the product selected and the borrower’s circumstances. Once the fixed period ends, the mortgage normally moves to another rate unless the borrower switches to a new deal.
Tracker mortgages work differently because their rates are linked to another reference rate, commonly the Bank of England Bank Rate, with a specified margin added. Variable-rate mortgages can also change over time. Because these structures respond differently to changes in interest rates, borrowers need to understand how their monthly payments could change before choosing a product.
How to Compare Mortgage Deals Properly
When comparing what are mortgage rates today results, avoid focusing exclusively on the largest or smallest percentage displayed on a comparison page. The headline rate is important, but the product fee, incentives, mortgage term, LTV and expected balance can all influence the overall cost. A mortgage with a lower advertised rate may not necessarily produce the lowest total cost for every borrower.
It is also worth checking whether a displayed rate is an average or an individually available deal. Rightmove’s published figures are market averages, while individual lenders can offer specific products subject to eligibility and lending criteria. Checking the latest lender information or speaking with a regulated mortgage adviser can help you establish which products may actually be available to you.
What Are Mortgage Rates Today for Different UK Borrowers?
First-time buyers with smaller deposits can face different mortgage pricing from borrowers with larger deposits. For example, Rightmove reported average 95% LTV fixed rates of 6.01% for two years and 5.97% for five years on 26 September 2026. By contrast, its 60% LTV averages were close to 5.06–5.07%. The difference highlights the importance of considering your LTV when researching mortgage costs.
Remortgaging borrowers have another set of considerations because they may already have substantial equity in their property. Current remortgage pricing also varies according to LTV and product type. Rightmove’s September data showed that average two-year remortgage rates had risen to 5.42%, illustrating how current borrowing conditions can differ from deals borrowers may have secured several years earlier.
Mortgage Rates and the Bank of England
The Bank of England’s Bank Rate is an important reference point for the UK borrowing environment. In September 2026, the Bank maintained Bank Rate at 3.75%, What Are Mortgage Rates Today it had remained since December 2025. The Bank explained that inflation and energy-price developments remained important considerations for monetary policy.
However, Bank Rate should not be confused with the mortgage rate shown on a lender’s product. Fixed mortgage rates are influenced by wider market conditions and expectations as well as lender funding costs. The Bank itself noted in its September assessment that higher short-term market rates had passed through to key lending rates faced by households and businesses. This is why mortgage pricing can change even when the Bank Rate itself remains unchanged.
How to Find the Right Mortgage Rate for Your Situation
Start by working out your property value, deposit and required mortgage amount. This allows you to estimate your LTV and narrow down the types of products that may be relevant. You can then compare fixed periods, fees and monthly repayments rather than simply selecting a deal based on its headline percentage.
It is also sensible to review the total cost over the initial mortgage period. Check arrangement fees, incentives, early repayment charges and what happens when the introductory deal expires. Since lenders regularly update their products, current information is particularly important when making a borrowing decision. Rightmove, for example, states that its mortgage-rate information is updated as lender pricing changes.
Conclusion
The answer to what are mortgage rates today depends on the type of mortgage, LTV, fixed period and borrower circumstances. In late September 2026, UK market averages for two-year and five-year fixed mortgages were around 5.49% and 5.47%, respectively, while rates varied significantly between different LTV bands. Bank Rate was 3.75% following the Bank of England’s September decision.
For anyone comparing mortgages, the most useful approach is to look beyond a single headline figure. Consider your deposit, LTV, product fees, fixed period and overall borrowing cost, then verify the latest available products before applying. Mortgage pricing can change quickly, so information should always be checked against current lender or regulated adviser data.
Frequently Asked Questions
What are mortgage rates today in the UK?
On 26 September 2026, Rightmove reported average UK fixed rates of 5.49% for two years and 5.47% for five years.
What are mortgage rates today for a 2-year fixed mortgage?
The latest Rightmove market average was 5.49% for a two-year fixed mortgage on 26 September 2026.
What are mortgage rates today for a 5-year fixed mortgage?
The latest Rightmove market average was 5.47% for a five-year fixed mortgage on 26 September 2026.
What are mortgage rates today for a 30-year fixed mortgage?
Thirty-year fixed mortgages are not a standard UK mortgage structure in the same way they are in some other countries, where long fixed terms are more common.
What are mortgage rates today in Halifax?
Halifax mortgage rates vary by product, LTV, borrower circumstances and eligibility, so its current rates should be checked directly with the lender.
What are mortgage rates today in the UK for first-time buyers?
First-time-buyer rates vary by deposit and LTV, with smaller deposits generally associated with higher average rates in current market data.
Will UK mortgage rates fall in 2026?
Future mortgage rates are uncertain because they depend on market conditions, inflation, Bank Rate and lender pricing.
How does the Bank of England Bank Rate affect mortgages?
Bank Rate can influence variable and tracker mortgage costs and broader borrowing conditions, while fixed mortgage rates are also affected by wider financial-market pricing.
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