UK mortgage rate & interest-rate news
Bank of England decisions, mortgage pricing moves and everything affecting the cost of borrowing.
Mortgage and interest-rate news matters because it changes what buyers can afford and what sellers can realistically ask. Every rate move, pricing change and Bank of England decision that lands in the UK property market gets covered here in plain English. Scored by how much it actually matters to buyers, sellers and the wider market.
Latest rates stories
23 stories- high · 7/93 Jun 2026
HSBC joins Halifax, NatWest and Leeds in week-long wave of fixed mortgage rate cuts
HSBC's latest cuts took effect on 3 June, the newest in a week-long wave that has also seen Halifax, Lloyds, Coventry, NatWest and Leeds trim fixed rates. Swap rates have eased as markets settle on Bank Rate holding at 3.75% on 18 June rather than rising. For buyers, monthly budgets stretch a little further; for sellers, firmer affordability supports demand. It is a drift lower, not a return to the cheap rates of recent years.
Source: Mortgage Strategy
- medium · 6/92 Jun 2026
Lenders cut fixed mortgage rates again, with HSBC repricing residential and buy-to-let deals from 3 June
HSBC cut rates across its residential, first-time buyer, remortgage and buy-to-let ranges from 3 June, after Gen H trimmed up to 0.20% on 1 June and Allica and ModaMortgages followed. The moves track easing swap rates - lenders' wholesale funding costs - which had spiked earlier on Middle East tensions. For buyers, that means slightly cheaper fixes to lock in now; for sellers, modest support for demand at the margin. It is a gradual easing, not a sharp fall, and brokers warn the cuts could stall before the Bank of England's 18 June decision.
Source: Mortgage Soup
- medium · 6/930 May 2026
UK lenders trim fixed rates again as swap rate pressure eases
In the week ending 29 May, NatWest cut its 90% LTV two-year fix from 5.56% to 5.35% and Leek Building Society trimmed residential products by up to 20bps, while Newcastle launched a fresh tracker range from 4.55%. Swap rates have eased from their post-Middle East spike, giving lenders modest headroom to reprice. For buyers, the early-month softening continues but only by single basis points; for sellers, affordability is loosening at the margin rather than meaningfully recovering.
Source: Mortgage Introducer
- medium · 5/922 May 2026
TSB, Together, Santander and Skipton trim selected mortgage rates as May repricing wave extends
TSB and Together cut selected fixed-rate mortgages on 22 May, joining Santander's reductions of up to 27 basis points and Skipton's 14bps average trim earlier the same week. These are individual lenders trimming margins where competition is sharpest — not a wholesale repricing on cheaper funding. For buyers and remortgagers, headline pricing eases modestly on selected deals. The caveat: swap rates remain volatile and gains could reverse if energy or inflation data surprise upward.
Source: Mortgage Solutions
- low · 4/918 May 2026
Skipton cuts residential mortgage rates by up to 32bps across 90%, 95% and 100% LTV deals
Skipton Building Society cut rates on its two-, three- and five-year residential fixes from 9am on Tuesday 19 May, with the largest reduction at 32bps and an average of 14bps. The cuts target the higher 90%, 95% and 100% LTV bands where affordability has been tightest. For buyers near the top of their borrowing, that shaves a small but real chunk off monthly costs. With wider rate-cut momentum stalling, this looks like a single-lender push rather than a market-wide shift.
Source: Mortgage Solutions
- medium · 6/916 May 2026
26 UK lenders shift pricing in a week as Moneyfacts says the rate-cut run has stalled
Moneyfacts's latest weekly rate watch (week to 15 May) shows 26 lenders moved pricing — 10 cuts, 8 increases and 12 product refreshes — with the average two-year fix easing slightly while the five-year fix edged up to 5.70%. Swap-rate volatility is splitting the field: larger lenders like NatWest and Santander keep competing hard, while smaller mutuals pass increases through. For buyers, the broad-based cut run that ran through March and April has plainly stalled; sellers should not assume affordability is on its way back. The 20 May CPI print will set the next direction.
Source: Mortgage Strategy
- medium · 6/914 May 2026
Mortgage rate cuts stall as average two-year fix holds at 5.78% and five-year edges up to 5.70%
Moneyfacts said the average UK two-year fixed rate held at 5.78% this week and the five-year nudged up to 5.70%, with Lloyds and Scottish Building Society trimming by up to 24bps but Skipton and United Trust Bank lifting prices, including a 140bps jump at UTB. Swap rates have stopped falling, so lenders are pulling cuts that no longer pay back. For buyers planning to fix, headline rates have settled in the 5.7-5.8% range. April CPI on 20 May and the next Bank of England decision on 18 June will set direction from here.
Source: Mortgage Strategy
- high · 7/912 May 2026
Nationwide cuts fixed mortgage rates by up to 36bps as lenders extend May repricing wave
Nationwide, NatWest, Virgin Money and TMW all trimmed selected fixed rates on 11 and 12 May, with Nationwide leading at cuts of up to 36bps and its five-year fix at 90% loan-to-value now 4.89%. Swap rates have eased rather than collapsed, so this looks like competitive trimming, not a full repricing. For buyers at higher loan-to-value, monthly costs nudge down; for sellers, the bidding pool widens slightly this week. The wave could pause if inflation data pushes swaps back up.
Source: Mortgage Solutions
- medium · 6/911 May 2026
Santander and HSBC lead UK mortgage rate cuts as lenders ease pricing in early May
Santander cut selected fixed, tracker and product transfer rates by up to 50bps from Monday 11 May, following HSBC's reductions of up to 30bps on 8 May. Swap rates have eased as markets digest a Middle East ceasefire after weeks of pricier funding. For buyers this is a modest reopening of pricing; for sellers, slightly better affordability may nudge enquiries back into stale stock. Cuts could stall or reverse if swaps push higher — not a sustained downtrend yet.
Source: Mortgage Introducer
- medium · 5/97 May 2026
HSBC cuts mortgage rates as Foundation and Leek raise specialist deals up to 17bps
HSBC will lower rates across its residential and buy-to-let ranges on 8 May, while Foundation, Leek Building Society, Vida and Interbay are repricing on the same day, with Leek raising holiday-let fixes by up to 17bps and limited-company buy-to-let by up to 15bps. Lenders are not moving in lockstep: mainstream residential pricing is softening, while specialist landlord products are hardening as funding costs and risk views diverge across ranges. For mainstream residential buyers the direction of travel is still mildly favourable, so a short pause to reshop a quote can be worthwhile; for landlords looking at holiday-let or limited-company structures, the window for current pricing closes today. This is product-by-product repricing rather than a coordinated direction shift, and swap rates plus the next MPC meeting on 18 June will set the broader path.
Source: Mortgage Strategy
- medium · 5/97 May 2026
Santander trims selected fixed and tracker rates from today as repricing rolls into a fourth week
Santander reprices selected residential and buy-to-let deals from this morning, cutting up to 0.15% on 10-year first-time buyer fixes and up to 0.23% on selected BTL product transfers, with one 85% LTV FTB two-year fix moving the other way by 0.05%. It is the fourth week of selective trimming since the Bank held Bank Rate at 3.75% on 30 April, with swap rates giving pricing teams room only on the deals where competition is sharpest. For buyers there is fractionally better headline pricing on longer fixes; for sellers it is not enough to change asking-price strategy. Swap rates remain elevated, and a further drift on inflation or energy could pause this run before it builds.
Source: Mortgage Solutions
- medium · 5/95 May 2026
Halifax and BM Solutions trim selected fixed rates by up to 0.25% as funding costs rise
Halifax and BM Solutions both trimmed selected fixed rates by up to 0.25% on 5 May 2026, with the bulk targeting remortgage, product transfer and further-advance products. Funding costs have actually risen and Foundation pulls its entire residential range tomorrow, so brokers are calling this the last leg of cheaper pricing rather than a wider trend. For buyers, today's headline rates may be the floor for now; for sellers, affordability looks set to tighten again before it eases.
Source: Mortgage Strategy
- high · 7/91 May 2026
TSB, Halifax, Santander and HSBC cut fixed mortgage rates by up to 45bps as swap rates ease back from April highs
On Friday 1 May, TSB cut two-year fixed house purchase rates by up to 45bps, Halifax trimmed fixes by up to 35bps and Santander by up to 28bps, with HSBC also repricing. The trigger is five-year swap rates falling back towards 4% from highs near 4.4% in April, giving lenders room to ease pricing. For buyers, that puts Halifax's leading 2-year fix at 4.64% and starts to unwind the affordability hit from the April spike; for sellers, it is the first sign in weeks that conditions are moving the right way for offers. The cuts come off elevated April pricing, not pre-spike levels, and a reversal stays on the table if Middle East-driven inflation fears resurface.
Source: Mortgage Strategy
- high · 8/930 Apr 2026
Bank of England holds Bank Rate at 3.75% in 8-1 vote as Pill dissents for a hike to 4%
The MPC voted 8-1 on 30 April to maintain Bank Rate at 3.75%, with Huw Pill the lone dissenter calling for a 25bps rise to 4%. The Committee cited Middle East energy-price pressure pushing CPI to 3.3% in March, with inflation projected to dip to 3.1% in Q2 before rising back to 3.3% in Q3. The market-implied path now slopes upward, suggesting some increase in Bank Rate this year. For buyers, that pushes the cheap-money window further out; for sellers, expect lender repricing to firm up rather than fall.
Source: Bank of England
- high · 7/929 Apr 2026
Barclays brings back sub-4% deal as HSBC, NatWest and Coventry BS join 30 April rate cut wave
Barclays relaunched a sub-4% mortgage on 29 April, pricing a two-year tracker at 3.96% for Premier purchase borrowers at 75% LTV. HSBC, NatWest and Coventry Building Society followed with cuts of up to 19 basis points across residential and BTL ranges from 30 April. The coordinated easing follows weeks of swap-rate volatility tied to the Iran conflict. For buyers, headline pricing is loosening at the top end; for sellers, it widens the pool of affordable borrowers. The caveat: sub-4% is gated to Premier borrowers, not yet a market-wide return.
Source: Mortgage Solutions
- high · 8/927 Apr 2026
Average UK two-year fixed mortgage rate jumps to 5.81% on 24 April, up from 4.84% in March
Moneyfacts data shows the average two-year fixed mortgage rate hit 5.81% on 24 April, up from 4.84% at the start of March — the sharpest monthly rise since July 2023. The driver is swap rate volatility tied to the Middle East conflict. For buyers, that is roughly £100 a month extra on a £200,000 loan against March pricing. For sellers, expect more cautious offers; economists now see no Bank of England cut until 2027.
Source: Property Industry Eye
- high · 7/922 Apr 2026
HSBC, Santander, Virgin Money and Principality cut fixed rates by up to 45bps as lender repricing accelerates
Virgin Money trimmed fixed rates by up to 45 basis points on 22 April, HSBC and Principality followed with cuts from the next day, and Santander reduced first-time buyer, home mover and remortgage fixes by up to 0.25%, including its 95% LTV three-year deal from 5.55%. Lenders are passing through lower swap rates and competing harder for purchase business after weeks of repricing. For buyers, monthly payments on new fixes are edging down and higher-LTV deals are getting a sharper look. The caveat: Virgin lifted some tracker rates by 25bps on the same day, so this is a fixed-rate story rather than a broad easing.
Source: Mortgage Strategy
- medium · 6/921 Apr 2026
Reuters poll finds economists expect Bank of England to hold rates through 2026
A Reuters poll of economists published yesterday found most expect the Bank of England to leave the base rate unchanged at next week's meeting and through the rest of 2026, even after recent inflation pressure tied to the Iran conflict. For buyers, that means fixed-rate pricing is unlikely to fall sharply in the near term. For sellers, demand levels look set to stay roughly where they are.
Source: Reuters
- high · 7/921 Apr 2026
Barclays cuts mortgage rates by up to 36bps across more than 20 fixed deals
Barclays is cutting more than 20 of its fixed-rate mortgages by up to 36 basis points from today, covering 2- and 5-year deals at a range of loan-to-value bands. It is one of the bigger moves from a major UK lender this month and follows a similar cut from NatWest earlier in the week. For buyers, monthly payments on new fixes drop modestly. For sellers, slightly cheaper borrowing tends to support demand at the margins.
Source: Mortgage Strategy
- medium · 5/920 Apr 2026
NatWest cuts mortgage rates by up to 37bps across residential and buy-to-let
NatWest is cutting mortgage rates by up to 37 basis points, covering both residential and buy-to-let. The biggest move is on its 95% LTV five-year fix, down from 5.76% to 5.39%. It follows HSBC last week. For buyers, it's the first run of meaningful cuts since rates rose in February after the Iran conflict. The picture stays unsettled — swap rates remain higher than the start of the year.
Source: Mortgage Strategy
- medium · 6/918 Apr 2026
Mortgage rates show signs of falling after Iran war peak
Several large UK lenders are cutting mortgage rates this week, with Halifax — the country's biggest lender — among them. Markets eased after geopolitical tensions cooled, pulling down the swap rates that fixed mortgages are priced against. Buyers comparing fixed-rate deals over the next few weeks will see slightly cheaper headline rates. The Bank of England base rate has not moved — this is a market-led shift, and lenders can pull rates back if conditions change.
Source: BBC
- high · 7/918 Apr 2026
Mortgage rates show signs of falling after Iran war peak
Major lenders including Halifax, HSBC and Santander have started cutting fixed mortgage rates as swap rates ease on hopes of a long-term truce in the Iran war. The average two-year fixed rate has edged down from a wartime peak of 5.90% to 5.87%, though still well above the 4.83% seen before the conflict. Around 1,000 fewer deals are available than pre-war, but lenders are offering larger loan amounts.
Source: BBC News
- high · 8/918 Apr 2026
Fixed mortgage rates fall for first time since Iran war peak
Average fixed mortgage rates have fallen for the first time since the spike that followed the Iran war, according to Moneyfacts. HSBC cut some deals by up to 34 basis points last week and several other lenders — Halifax, Atom, Family and Cambridge — followed. For buyers, monthly payments on a new fixed deal are a touch lower. The market reads it as the start of a slow easing, though nothing is guaranteed.
Source: BBC News
Frequently asked about rates
How do Bank of England rate decisions affect UK house prices?
When the Bank of England cuts its base rate, mortgage lenders usually follow with cheaper fixed and tracker products within a few weeks. Cheaper borrowing means buyers can afford higher prices, which tends to support or lift house prices. When rates rise, the reverse happens. Buyers can borrow less, so demand softens and prices can stall or fall. The effect isn't instant, but rate decisions are usually the single biggest short-term influence on UK housing demand.
Why do mortgage rates sometimes move without a Bank of England decision?
Mortgage rates are priced off 'swap rates'. The rate at which banks lend to each other over a set term. Swap rates move every day based on what the market expects the Bank of England to do next, not just what the Bank has already done. So lenders can cut (or raise) rates even if the base rate hasn't moved. Because the market has changed its mind about what's coming.
Does a mortgage rate cut always mean house prices go up?
Not always, but it usually helps. A rate cut makes monthly payments more affordable, so buyers who were priced out can come back in. That typically increases demand faster than supply can respond, which nudges prices up. But if the cut comes at the same time as bad economic news. Rising unemployment, weak wages. Buyer confidence can stay low even as rates fall. Rates are one big lever, not the only one.