Average UK Mortgage Rates (September 2026)
The average quoted rate on a 2-year fixed mortgage is 5.13%, and on a 5-year fix 4.98% (75% loan to value), according to the Bank of England.
| Product | September 2026 | A year earlier | Change |
|---|---|---|---|
| 2-year fixed rate mortgage, 75% loan to value | 5.13% | 4.19% | +0.94 points |
| 3-year fixed rate mortgage, 75% loan to value | 4.93% | 4.18% | +0.75 points |
| 5-year fixed rate mortgage, 75% loan to value | 4.98% | 4.16% | +0.82 points |
| 2-year fixed rate mortgage, 60% loan to value | 5.01% | 4.03% | +0.98 points |
| 2-year fixed rate mortgage, 95% loan to value | 5.70% | 5.03% | +0.67 points |
| Revert-to-rate (standard variable) mortgage | 6.58% | 6.80% | −0.22 points |
What these rates cost
| Mortgage | At 5.13% | At 4.98% |
|---|---|---|
| £150,000 | £888 | £875 |
| £200,000 | £1,184 | £1,167 |
| £250,000 | £1,480 | £1,459 |
| £300,000 | £1,777 | £1,750 |
Monthly repayments over 25 years. Use the mortgage calculator for your own figures, or see how much you could borrow on your salary.
About these figures
The Bank of England collects the rates that lenders quote on their standard mortgage products and publishes the averages each month. They are a guide to the market, not the best deals: individual lenders vary and the best rates are usually lower than the average. The latest month is September 2026. Your own rate depends on your deposit, credit history and the lender. The Bank Rate influences these rates but does not set them.
Source: Bank of England Statistical Interactive Database, quoted household interest rates. Figures fetched 12 October 2026.
Frequently asked questions
What is the average UK mortgage rate?
According to the Bank of England, the average quoted rate on a 2-year fixed mortgage (75% loan to value) was 5.13% in September 2026, and 4.98% on a 5-year fix.
How much is a mortgage per month at these rates?
A £200,000 repayment mortgage over 25 years at 5.13% costs about £1,184 a month.
Is a 2-year or 5-year fix better?
It depends on your plans and the rates on offer. A 5-year fix gives certainty for longer, but you may pay an early repayment charge if you move or remortgage during it. The averages show the difference between the two at the moment: 5.13% against 4.98%.
What does loan to value mean?
Loan to value (LTV) is the mortgage as a percentage of the property price. A 75% LTV means a 25% deposit. Lower LTVs usually get cheaper rates.
Figures are for the 2026/27 tax year from official sources and are estimates for guidance only, not financial or legal advice. Printed from ukanswers.co.uk.