UK mortgage rates, charted over time
Watch average UK mortgage rates move like a market. Fixed rates by deposit size and by fix length, the variable and revert rates, and the Bank of England base rate behind them — all on one chart. Every figure is official Bank of England data.
Official Bank of England data · May 2026 · Free · No sign-up
2-year fix (75% LTV)
4.92%
May 2026
Change over 5 years
↑+3.53pp
2-year fix, 75% LTV
Bank of England base rate
3.75%
Current
Revert rate (SVR)
6.60%
Average after a deal ends
How long should you fix for?
June 2021 – May 2026 · Average UK rates, Bank of England
Average rates at 75% LTV across the common deal lengths, plus the revert rate (SVR) you fall onto when a deal ends.
Your rate is half the equation
The other half is what your home actually sells for. Get free, side-by-side valuations from competing local estate agents — anonymous until you choose who to speak to.
Get your free valuationMonthly data table
| Month | 2yr fix | 3yr fix | 5yr fix | 10yr fix | 2yr variable | SVR | Base rate |
|---|---|---|---|---|---|---|---|
| May 2026 | 4.92% | 4.88% | 4.80% | 5.24% | 4.14% | 6.60% | 3.75% |
| April 2026 | 5.14% | 4.96% | 4.98% | 5.28% | 4.14% | 6.60% | 3.75% |
| March 2026 | 4.45% | 4.36% | 4.42% | 4.81% | 4.10% | 6.60% | 3.75% |
| February 2026 | 3.97% | 3.93% | 4.00% | 4.47% | 4.04% | 6.59% | 3.75% |
| January 2026 | 3.93% | 3.93% | 3.94% | 4.47% | 4.04% | 6.62% | 3.75% |
| December 2025 | 3.97% | 3.99% | 3.99% | 4.48% | 4.19% | 6.77% | 3.75% |
| November 2025 | 4.06% | 4.02% | 4.06% | 4.49% | 4.27% | 6.82% | 4.00% |
| October 2025 | 4.20% | 4.19% | 4.17% | 4.55% | 4.27% | 6.81% | 4.00% |
| September 2025 | 4.19% | 4.18% | 4.16% | 4.54% | 4.26% | 6.80% | 4.00% |
| August 2025 | 4.10% | 4.10% | 4.11% | 4.46% | 4.35% | 6.89% | 4.00% |
| July 2025 | 4.21% | 4.18% | 4.15% | 4.47% | 4.51% | 6.99% | 4.25% |
| June 2025 | 4.28% | 4.28% | 4.26% | 4.51% | 4.52% | 6.98% | 4.25% |
| May 2025 | 4.18% | 4.27% | 4.19% | 4.53% | 4.61% | 7.08% | 4.25% |
| April 2025 | 4.42% | 4.34% | 4.29% | 4.59% | 4.76% | 7.19% | 4.50% |
| March 2025 | 4.54% | 4.38% | 4.32% | 4.60% | 4.77% | 7.24% | 4.50% |
| February 2025 | 4.65% | 4.49% | 4.38% | 4.60% | 4.79% | 7.35% | 4.50% |
| January 2025 | 4.63% | 4.50% | 4.37% | 4.57% | 4.93% | 7.48% | 4.75% |
| December 2024 | 4.60% | 4.48% | 4.37% | 4.58% | 5.02% | 7.47% | 4.75% |
| November 2024 | 4.53% | 4.44% | 4.29% | 4.61% | 5.13% | 7.56% | 4.75% |
| October 2024 | 4.40% | 4.28% | 4.06% | 4.65% | 5.32% | 7.68% | 5.00% |
| September 2024 | 4.58% | 4.43% | 4.09% | 4.80% | 5.45% | 7.70% | 5.00% |
| August 2024 | 4.80% | 4.62% | 4.33% | 4.85% | 5.50% | 7.86% | 5.00% |
| July 2024 | 4.99% | 4.78% | 4.49% | 4.86% | 5.70% | 8.07% | 5.25% |
| June 2024 | 5.16% | 4.86% | 4.64% | 4.87% | 5.76% | 8.03% | 5.25% |
| May 2024 | 5.19% | 4.88% | 4.66% | 4.87% | 5.77% | 8.00% | 5.25% |
| April 2024 | 4.98% | 4.74% | 4.51% | 4.78% | 5.71% | 8.00% | 5.25% |
| March 2024 | 4.96% | 4.73% | 4.53% | 4.79% | 5.71% | 7.93% | 5.25% |
| February 2024 | 4.76% | 4.53% | 4.41% | 4.75% | 5.72% | 7.94% | 5.25% |
| January 2024 | 4.71% | 4.75% | 4.43% | 4.68% | 5.72% | 7.94% | 5.25% |
| December 2023 | 5.03% | 5.07% | 4.68% | 4.70% | 5.69% | 7.92% | 5.25% |
| November 2023 | 5.28% | 5.27% | 4.89% | 4.89% | 5.70% | 8.00% | 5.25% |
| October 2023 | 5.60% | 5.43% | 5.02% | 4.99% | 5.67% | 8.02% | 5.25% |
| September 2023 | 5.91% | 5.79% | 5.24% | 5.10% | 5.69% | 7.98% | 5.25% |
| August 2023 | 6.18% | 6.01% | 5.53% | 5.14% | 5.66% | 7.91% | 5.25% |
| July 2023 | 6.22% | 5.93% | 5.71% | 5.16% | 5.42% | 7.64% | 5.00% |
| June 2023 | 5.49% | 5.16% | 4.95% | 4.83% | 4.97% | 7.47% | 5.00% |
| May 2023 | 4.72% | 4.46% | 4.28% | 4.40% | 4.71% | 7.38% | 4.50% |
| April 2023 | 4.60% | 4.36% | 4.16% | 4.23% | 4.55% | 7.30% | 4.25% |
| March 2023 | 4.74% | 4.56% | 4.26% | 4.33% | 4.60% | 7.16% | 4.25% |
| February 2023 | 4.79% | 4.66% | 4.36% | 4.42% | 4.45% | 6.97% | 4.00% |
| January 2023 | 5.14% | 4.88% | 4.66% | 4.86% | 4.08% | 6.61% | 3.50% |
| December 2022 | 5.43% | 5.28% | 5.05% | 5.00% | 4.14% | 6.42% | 3.50% |
| November 2022 | 5.98% | 5.63% | 5.50% | 5.33% | 3.96% | 5.87% | 3.00% |
| October 2022 | 5.99% | 5.90% | 5.61% | 5.21% | 3.24% | 5.42% | 2.25% |
| September 2022 | 4.17% | 4.45% | 3.97% | 4.17% | 2.78% | 5.10% | 2.25% |
| August 2022 | 3.60% | 3.75% | 3.61% | 3.75% | 2.33% | 4.88% | 1.75% |
| July 2022 | 3.48% | 3.32% | 3.43% | 3.57% | 2.23% | 4.55% | 1.25% |
| June 2022 | 2.87% | 2.98% | 2.90% | 3.17% | 2.45% | 4.39% | 1.25% |
| May 2022 | 2.63% | 2.56% | 2.62% | 2.78% | 2.39% | 4.26% | 1.00% |
| April 2022 | 2.35% | 2.26% | 2.35% | 2.64% | 2.32% | 4.11% | 0.75% |
| March 2022 | 2.14% | 2.03% | 2.11% | 2.50% | 2.01% | 3.99% | 0.75% |
| February 2022 | 1.78% | 1.79% | 1.79% | 2.24% | 1.75% | 3.84% | 0.50% |
| January 2022 | 1.64% | 1.63% | 1.63% | 2.34% | 1.51% | 3.67% | 0.25% |
| December 2021 | 1.57% | 1.39% | 1.59% | 2.44% | 1.65% | 3.61% | 0.25% |
| November 2021 | 1.53% | 1.38% | 1.52% | 2.50% | 1.69% | 3.59% | 0.10% |
| October 2021 | 1.29% | 1.12% | 1.30% | 2.53% | 1.79% | 3.60% | 0.10% |
| September 2021 | 1.20% | 1.18% | 1.28% | 2.59% | 1.88% | 3.61% | 0.10% |
| August 2021 | 1.23% | 1.39% | 1.39% | 2.59% | 1.93% | 3.61% | 0.10% |
| July 2021 | 1.29% | 1.51% | 1.45% | 2.58% | 1.99% | 3.61% | 0.10% |
| June 2021 | 1.39% | 1.66% | 1.60% | 2.59% | 2.24% | 3.61% | 0.10% |
Source: Bank of England, average quoted household mortgage rates. Updated monthly. Last refreshed May 2026 data.
Know your home's value?
How to read mortgage rates properly
Mortgage rate headlines usually quote one number — “the average two-year fix” — as if there were a single mortgage rate. There isn’t. The rate you are offered depends on how long you fix for, how big your deposit is, and what the wider market is doing that month. This tracker shows all of that at once, using the Bank of England’s official monthly figures.
Averages, not adverts
These are market averages across UK banks and building societies, not one lender’s headline deal. That makes them honest about the whole market’s direction, but it also means your own quote can land above or below the line. Use the chart to understand the level and the trend, then get a real quote for your circumstances.
Your deposit is doing more than you think
Switch to the “By deposit size” view and the gap between a 5% deposit and a 40% deposit is stark — often more than a full percentage point on the same two-year fix. On a typical loan that is a meaningful difference in monthly cost. If you are close to the next loan-to-value band, a slightly bigger deposit can pay for itself.
The revert rate is the line to avoid
When a fixed or introductory deal ends, you don’t get a new low rate automatically — you fall onto the lender’s revert rate, also called the standard variable rate. On the “By fix length” view it is consistently the highest line on the chart. Knowing when your deal ends, and acting before it does, is usually worth more than chasing the perfect rate.
Why fixed rates don’t just follow the base rate
The dashed line is the Bank of England base rate. You’ll notice the fixed-rate lines often move before it does, or by different amounts. That is because fixed rates are priced off what markets expect the base rate to do over the next few years, not just where it sits today. When the market expects cuts, fixed rates can fall even while the base rate is held.
From a market rate to your own decision
A rate is only half the picture. Whether you are remortgaging or selling, your home’s value decides your equity, your loan-to-value band and what you walk away with. ValuQ gets you free valuations from multiple competing local estate agents, side by side, while you stay anonymous until you choose who to speak to.
Sources for the data used here
- Bank of England — average quoted household interest rates: bankofengland.co.uk/statistics
- Bank of England — Official Bank Rate history: bankofengland.co.uk/boeapps/database/Bank-Rate
- Bank of England Database (interactive series): bankofengland.co.uk/boeapps/database
Source: Bank of England. Average quoted household interest rates are published monthly; the latest month shown is May 2026. These are market averages for residential owner-occupier mortgages and are not a quote for any individual borrower.
Frequently asked questions
Where does this mortgage rate data come from?
Every line on the chart is the average quoted rate published monthly by the Bank of England, drawn from across UK banks and building societies. These are official statistics, not a portal's estimate and not a single lender's advert. The most recent month shown is the latest the Bank has released.
Are these the rates one specific bank is offering right now?
No. These are market averages across all the major lenders, so they show the direction and level of the whole market rather than one bank's headline deal. Any individual lender can sit above or below the average, and the rate you are personally offered depends on your deposit, your credit profile and the specific product. Treat the chart as the lie of the land, then get an actual quote from a lender or a broker for your own number.
Why does a bigger deposit get a lower rate?
Loan-to-value (LTV) is how much you are borrowing against the value of the home. A 60% LTV means a 40% deposit; a 95% LTV means a 5% deposit. The less a lender has to risk relative to the property's value, the cheaper the rate they offer. The 'By deposit size' view shows exactly how wide that gap is at any point in time — it is often more than a full percentage point between the smallest and largest deposits.
Should I fix for 2 years or 5 years?
There is no single right answer, and the chart is there to help you weigh it rather than decide it. A shorter fix usually carries a lower rate but means you remortgage sooner, exposing you to wherever rates are then. A longer fix costs a little more for the certainty of locking your payment for longer. Use the 'By fix length' view to see how big that trade-off is right now, and remember the revert rate (SVR) line is where you end up if you do nothing when a deal ends — almost always the most expensive place to be.
How does the Bank of England base rate affect my mortgage?
The base rate is what the Bank of England charges banks, and it feeds through to mortgage pricing — most directly for variable and tracker deals, and more gradually for fixed rates, which are also shaped by what markets expect the base rate to do in future. That is why the dashed base-rate line on the chart and the fixed-rate lines do not move in perfect step: fixed rates often price in expected cuts or rises before they happen.
Does this include buy-to-let or interest-only rates?
Not currently. The Bank of England's free quoted-rate data covers residential owner-occupier mortgages — fixed rates by term and deposit, variable rates and the revert rate. Buy-to-let and interest-only are priced differently and are not part of this particular dataset, so showing them here would mean guessing, which we will not do. The fixed, variable and revert lines shown are all real, published figures.
How do I find out what my home is worth before I remortgage or sell?
Your rate sets your monthly cost, but your home's value sets your equity, your loan-to-value band and what you walk away with if you sell. ValuQ gives UK homeowners free, side-by-side property valuations from competing local estate agents, with no cold calls and full anonymity until you choose who to speak to. That is the fastest way to turn a market average into a real figure for your address.
More free property tools
Tools that pair with the rate tracker when a move or a remortgage gets real.
Mortgage Calculator
Put a rate from the chart into your own numbers — monthly payment and total interest over the term.
Affordability Calculator
How much you could borrow, and what that looks like as a monthly payment at today’s rates.
House Price Tracker
Official Land Registry sold prices for any UK area, charted over time.
Want the real number for your home?
Rates set your monthly cost. Your home’s value sets everything else. Get free, side-by-side valuations from competing local estate agents, completely anonymously.