Bank of England Bank Rate

3.75%

Last checked 16 July 2026. Next scheduled decision: 30 July 2026. Check the primary source.

Bank Rate is not a mortgage quote. Lender products can change during the day, and an advertised rate may not be available for your circumstances. This page does not provide regulated mortgage advice.

Why we do not publish a static table of current mortgage rates

A table copied at publication can be inaccurate before it is next reviewed. Two borrowers looking on the same day may see different eligible products because their LTV, income, credit history, property, loan size, and product preferences differ. MortgageConnector therefore publishes the pricing framework and a dated Bank Rate source, not an unsupported claim that one set of rates is live.

How LTV bands affect product choice

Loan-to-value is the mortgage divided by the property's value. A £225,000 mortgage on a £250,000 home is 90% LTV. Crossing a band can change the products available, but a larger deposit is not automatically the best decision if it leaves you without adequate savings for fees or emergencies.

LTV band	Equivalent deposit	What it usually means
95%	5%	Small deposit; fewer products and usually higher pricing than lower-LTV bands.
90%	10%	Often a meaningful increase in lender choice compared with 95% LTV.
85%	15%	A further common pricing boundary with a broader mainstream product range.
80%	20%	More borrower equity and usually wider product choice.
75%	25%	A common lower-LTV band used in residential mortgage pricing.
60% or less	40% or more	Largest equity buffer; often among the lender's most competitive bands.

Compare the total cost, not only the headline rate

Monthly payment: based on balance, rate, term, and repayment type.
Product fee: paid upfront or added to the mortgage, where interest may then apply.
Incentives: cashback, free valuation, or legal work can offset part of the cost.
Early repayment charge: important if you may sell, refinance, or make large overpayments.
Reversion rate: the rate used after the initial deal unless you switch.
APRC: useful context, but based on assumptions that may not match how long you keep the product.

Fixed, tracker, and variable products

A fixed rate keeps the product rate unchanged for an agreed period. A tracker usually moves with a stated benchmark such as Bank Rate plus a margin. Other variable rates can move at the lender's discretion. Compare payment certainty, flexibility, fees, and early repayment terms, not a forecast of where rates might go.

Model a quote

Use the mortgage repayment calculator for monthly payments and the LTV calculator to test deposit bands. Calculator results are illustrations, not offers. An FCA-authorised broker can then confirm products for your circumstances.

Frequently asked questions

What is the current Bank of England Bank Rate?

Bank Rate is 3.75%, last checked on 16 July 2026. The Bank of England's next scheduled decision is 30 July 2026. Bank Rate is not the same as the mortgage rate offered to an individual borrower.

What is the current UK mortgage rate?

There is no single current mortgage rate. Pricing differs by loan-to-value band, product term, fees, credit profile, income, property, lender criteria, and the day an application is priced. Compare a quote and its total cost rather than relying on a market-wide headline average.

Should I choose a two-year or five-year fixed mortgage?

A shorter fix gives you an earlier opportunity to review but may expose you to another product fee and future rate uncertainty sooner. A longer fix provides payment certainty for longer but can carry early repayment charges if your plans change. Suitability depends on the total cost and your expected timeline.

Why does loan-to-value affect mortgage rates?

A lower LTV gives the lender a larger equity buffer, so lenders usually offer a wider and more competitive product range. Pricing commonly changes at band boundaries such as 95%, 90%, 85%, 80%, 75%, and 60% LTV.

Is the lowest interest rate always the cheapest mortgage?

No. Product fees, valuation fees, incentives, cashback, the fixed period, and the mortgage balance can change the total cost. Compare the cost over the period you expect to keep the product and review the APRC without treating it as the only decision measure.

UK Mortgage Rates Explained