UK Mortgage Market Update 2026

I wanted, this week to give you a UK Mortgage Market Update 2026. Whether you’re a first time buyer, home mover, or looking to remortgage, understanding what’s happening right now can help you make better decisions.

Mortgage Rates Are Moving Again:

One of the biggest changes in the UK mortgage market recently is rising mortgage rates.

Following global economic uncertainty and inflation pressures, lenders have started to increase mortgage pricing again, with average rates climbing back above 5% in many cases.

In fact, recent data shows:

• 2-year fixed rates have risen to around 5.2%+

• 5-year fixed rates are also sitting around 5%+ 

This shift has happened quickly, which is why many borrowers are now seeing deals change in a matter of days.

The Bank of England Base Rate

The Bank of England base rate is currently around 3.75%, after a series of cuts through 2025.

However, markets are now uncertain about what happens next:

• Some expect rates to stay steady

• Others expect further increases

• Fewer are expecting rapid cuts

  
  

This uncertainty is one of the main reasons lenders are constantly repricing mortgage deals.

What This Means for Remortgage Clients

If your mortgage deal is ending soon, this is where things really matter.

With rates changing frequently:

• Waiting too long can mean losing a better deal

• Rates can increase quickly (sometimes daily)

• Planning early gives you more control

  
  

Many lenders allow you to Secure a new rate up to 6 months in advance.

How a Mortgage Broker Can Help in This Market

In a changing market, working with a mortgage broker can make a big difference.

At Burrows Financial Services, we help clients:

• Understand current mortgage rates

• Secure deals early

• Compare lenders

• Navigate affordability checks

• Stay informed as the market changes

Whether you’re based in Poulton-le-Fylde, the Fylde Coast, or anywhere in the UK, having expert guidance can help you make confident decisions.

Speak to a Mortgage Broker Today

If you’re:

• A first time buyer

• Planning to move

• Or your mortgage deal is ending soon

  
  

Book a free consultation with Burrows Financial Services today and get clear, straightforward mortgage advice.