If you’re thinking about buying a home, you might be wondering what the current mortgage rates are in the UK.
Lenders change the rates of their mortgage products regularly. That’s why we update the average mortgage rates weekly and compare how they’ve changed since the previous week. You can also compare the rates across a range of loan to value (LTV) percentages.
What’s happening with mortgage and interest rates now?
There has been lots of news about Base Rate rises and how they can impact mortgage rates. The Bank of England (BoE) meet about every six weeks to decide whether the Base Rate should go up or down, or stay the same.
The Base Rate was cut to 4.5%% on 6 February, the lowest level since June 2023. Inflation in the month to February fell to 2.8%, down from 3% the previous month.
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
|---|---|---|---|
| 2-year fixed | 4.79% | -0.04% | -0.45% |
| 5-year fixed | 4.70% | -0.01% | -0.15% |
Updated: 19 Apr 2025
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
|---|---|---|---|
| 2-year fixed | 3.86% | +0.00% | -0.60% |
| 5-year fixed | 3.89% | +0.00% | -0.24% |
Updated: 19 Apr 2025
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
What are the current UK mortgage interest rates?
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 12 Apr 2025 | Avg rate 19 Apr 2025 | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 95% | 2-year-fixed | 5.57% | 5.54% | -0.03% | -0.44% |
| 95% | 5-year-fixed | 5.34% | 5.35% | +0.01% | -0.17% |
| 90% | 2-year-fixed | 5.12% | 5.09% | -0.03% | -0.43% |
| 90% | 5-year-fixed | 4.88% | 4.88% | +0.00% | -0.16% |
Updated: 19 Apr 2025
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 12 Apr 2025 | Avg rate 19 Apr 2025 | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 85% | 2-year-fixed | 4.79% | 4.76% | -0.03% | -0.47% |
| 85% | 5-year-fixed | 4.67% | 4.65% | -0.02% | -0.13% |
| 75% | 2-year-fixed | 4.62% | 4.58% | -0.04% | -0.48% |
| 75% | 5-year-fixed | 4.55% | 4.54% | -0.01% | -0.17% |
Updated: 19 Apr 2025
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 12 Apr 2025 | Avg rate 19 Apr 2025 | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| 60% | 2-year-fixed | 4.23% | 4.18% | -0.05% | -0.51% |
| 60% | 5-year-fixed | 4.20% | 4.19% | -0.01% | -0.12% |
Updated: 19 Apr 2025
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
You can also check the current average Remortgage Rates here, and explore options with our Remortgage Calculator.
When could mortgage rates start to drop?
By the end of 2025, the Base Rate could fall to about 4%, although this depends on what’s happening in the wider economy.
But it’s difficult to predict when we could start to see more sizeable drops in mortgage rates, mostly because their movement is dependent on several factors. Including what happens with inflation, falling swap rates, and no unexpected shocks to the economy.
Average monthly mortgage repayments by average house price
You might be wondering what this week’s average mortgage rates could mean for average monthly mortgage repayments, and how this compares to the average rates offered last week.
The current average asking price of a typical first-time buyer property is £227,212. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,102 per month if repaying over 25 years.