🇬🇧 United Kingdom / Mortgage Rates

UK Mortgage Rates & Limits 2026

Official rates sourced from Bank of England base rate, Moneyfacts UK mortgage average rates.

Last updated: 2026-06-27

Current Rates

Parameter	Value
Bank Of England Base Rate	4.25
Average 2yr Fixed Rate	5.1
Average 5yr Fixed Rate	4.85
Average Svr	7.85
Typical Tracker Margin Above Base	0.99

Parameter	Value
Min Deposit Percent	5
Min Deposit First Time Buyer Percent	5
Help To Buy Isa Bonus Percent	25
Lifetime Isa Bonus Percent	25
Max Mortgage Income Multiple Typical	4.5
Stress Test Minimum Rate Percent	3
Stamp Duty Nil Band Residential	125,000
Stamp Duty Nil Band First Time Buyer	425,000
Sdlt Rate 125k To 250k	2
Sdlt Rate 250k To 925k	5
Sdlt Rate 925k To 1p5m	10
Sdlt Rate Above 1p5m	12
Sdlt Surcharge Additional Property	3

›The UK mortgage market is dominated by 2-year and 5-year fixed-rate products. Virtually no lender offers a 30-year fixed rate (unlike the US). Most borrowers refinance at the end of the fixed term.
›When a fixed or tracker deal ends, borrowers revert to the lender's Standard Variable Rate (SVR), typically 2–3% above the base rate. Always remortgage before the SVR kicks in.
›Stamp Duty Land Tax (SDLT) in England and Northern Ireland. Scotland charges Land and Buildings Transaction Tax (LBTT); Wales charges Land Transaction Tax (LTT) with different rates.
›UK mortgage lenders must stress-test affordability at rates 3% above the product rate, confirming borrowers can sustain repayments if rates rise.