Bank of England holds Bank Rate at 3.75% for a fourth time as lenders keep trimming fixed deals
The Bank of England held Bank Rate at 3.75% on 18 June, its fourth consecutive hold, with inflation expected to stay just below 3% for most of 2026. Even without a base-rate move, easing swap rates have let lenders including NatWest and Barclays keep trimming fixed mortgage deals. For buyers, fixed pricing is drifting down regardless of the hold; for sellers, borrowing costs are easing at the margin, not transforming demand. The hold caps how far those cuts can run.
What this means for…
Buyers· 3/3
Sellers· 2/3
Wider market· 3/3
Each axis scored 1 (minor) to 3 (major). Total 8/9.
More Rates commentary
23 Sept 2026 · Impact 5/9
NatWest cuts selected mortgage rates by up to 0.22 points, the first big lender to reverse September's hikes
22 Sept 2026 · Impact 7/9
Clydesdale and HSBC join a second wave of fixed-rate rises as the average two-year fix reaches 5.9%
18 Sept 2026 · Impact 7/9
Average five-year fix reaches 5.88%, the highest since October 2023, after a week of lender rate rises
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