Compare Today's Best Mortgage Rates

UK mortgage interest rates change due to a range of external factors, such as the Bank of England (BoE) base rate, swap rates, and lenders' appetite for risk.

Read on to find out more about how rates work, and use our mortgage rates tool below to check out the latest live lender rates.

Today’s best mortgage rates

To find out the best mortgage rates and remortgage rates for your circumstances, use our live rates tool below to compare deals from more than 90 lenders in real time:

How to use our mortgage rates tool

Our mortgage sourcing tool is free to use and lets you browse rates from across the entire market and choose the deal you want in real time. Here’s how to use it in three easy steps.

1. Simply make your selections from the form based on the type of mortgage you require and how much you need to borrow

2. The advanced filter options let you dig down into the rates that are most useful to you, for example, if you’re a first-time buyer, or want a tracker rate, rather than a fixed-rate deal

3. From the search result, click on the ‘enquire now’ button to speak to one of our experienced brokers about the suitability of this deal for your needs

The deals you see above come directly from the individual lenders and are updated daily. When you choose a mortgage on our service, one of our mortgage advisers will help you with the next steps in the process and guide you all the way to full application.

How do mortgage rates work?

Mortgage rates determine the amount of interest you’ll pay on your mortgage loan. The higher the interest rates, the more you’ll repay both on your monthly repayments and overall.

How rates are applied to your mortgage will depend on the type of mortgage you use...

1. Fixed-rate mortgages 

Interest rates on this type of mortgage are fixed for the duration of the mortgage deal term, which you choose when you take out a mortgage. This is often between two and ten years but can be longer or shorter in certain circumstances

2. Variable-rate mortgages

These include standard variable-rate deals, discount mortgages, and tracker mortgages. As the name suggests, they can vary at any time, and come in the following variations...

• Standard variable rate (SVR): not strictly a ‘deal’ this is a lender’s default rate and what you typically fall onto when your deal ends. Lenders set this rate independently, and while they can change it at any time, usually based on market fluctuations

• Discount mortgages: Usually, these deals are set at a percentage discount on the SVR, so they change when lenders make changes to that

• Tracker mortgages: Tracker deals tend to follow a specific external financial indicator, such as the BoE base rate or Sterling Overnight Index Average (SONIA). This means they change automatically based on decisions made by the Bank of England’s Monetary Policy Committee (MPC), not the lender

Factors that affect your mortgage rate

Mortgage rates fluctuate based on various factors, depending on the type of product they are, as explained above. However, the rates available to you won’t always be those published by lenders.

One of the reasons it’s helpful to use a broker, like ourselves, rather than approaching lenders directly is that we can review your circumstances and look at the rates specifically available to you, rather than generic rates published by lenders. This can save the disappointment of applying for a specific rate, only to find that you don’t qualify for it.

Here are some of the things that will determine the mortgage rate available to you:

• LTV (Loan-to-value) ratio: This is the amount you need to borrow as a percentage of the total property value, so the property value minus your deposit or equity.

• Credit history: Different lenders have widely varying criteria when it comes to credit history. Some lenders avoid borrowers with credit issues entirely, while others will select certain types of bad credit, but adjust the rates available to offset their risk.

• Product type: Investment products, such as buy-to-let or commercial finance, are more expensive than residential property mortgages overall; however, there can also be variance in the rates applied to certain deals based on the benefits available. For example, often fixed-rate deals are slightly higher than their variable counterpart, as you’re paying for certainty, no matter what happens in the market.

• Property type: Lenders tend to prefer standard brick-and-mortar properties, so if you’re trying to buy a slightly unusual or non-standard construction property, you’ll typically find rates will be higher to balance the perceived increase in risk.

How a broker can help you get the best deal

You can check out live mortgage interest rates today using our tool above, but keep in mind that the tool only asks for enough information to source deals for an average customer.

If you’re looking for more certainty, speak to an experienced whole-of-market broker, like us. We can review your personal circumstances against your chosen deal to ensure that you’ll qualify and that you haven’t overlooked any other deals that may be more beneficial to you.

If you’re interested in a specific deal, simply choose the ‘enquire now’ button on your chosen deal in the results table of the mortgage rates tool. One of our brokers will check your eligibility for this mortgage and see if there is a better deal available to you.

To speak to us more generally, reach out to our team today for a full consultation below:

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How the Bank of England’s base rate affects mortgage rates

Mortgage interest rates are usually linked to the BoE base rate either directly or indirectly. Tracker deals automatically change based on updates to the base rate, which is the central bank rate of interest for the UK.

All other deals are influenced by changes to the base rate, but lenders use their discretion to decide how base rate changes will impact their rates. The MPC decides the direction of the base rate of interest 8 times per year, but also has the power to add additional emergency meetings if necessary. This would usually be when significant world events impact financial industries unexpectedly, such as with the coronavirus pandemic.

Typically, when inflation is low, they opt to lower the base rate, whereas if it rises, they increase it in an attempt to curb inflation. While interest rates are still fairly high based on recent history (see the graph above), much higher rates were seen in the 1980s. The mortgage market tends to be fairly robust to interest rate fluctuations.

It’s worth noting that if you’re on a fixed-rate deal, your interest rate won’t be impacted by base rate changes until the deal term ends, even if your lender changes their rates for new customers.

Will mortgage rates rise or fall in 2025?

It’s impossible to state with any certainty what will happen to mortgage rates for the remainder of the year. Financial analysts believe overall that they are likely to fall further; however, the decrease in rates is already expected to be less dramatic than was anticipated at the outset of this year.

It’s also worth noting that a range of factors can influence mortgage rates; the base rate is just one of them. For example, changes in swap rates caused some mortgage rate volatility throughout 2024 and have led to some reductions in 2025 mortgage rates.

Generally, mortgage rates have been difficult to predict for the past five years or so, so it’s a good idea to keep a close eye on rates, particularly if you’re due to remortgage. Using the tool on this page and speaking to a broker can ensure you get the best deal available, no matter what’s happening in the mortgage market.

Why choose Teito to source your mortgage rate?

At Teito, we offer complete transparency by showing you live rates for your personal comparison. However, if you want to be certain that you’re choosing the right deal for you, we can also offer:

• You can choose your own mortgage deal from over 90 lenders

• Tailored advice from a broker with experience in the specific mortgage you’re applying for

• Our brokers can often access exclusive deals you won’t find elsewhere

• A 5-star rated service according to Google and TrustPilot reviews

Ready to begin your mortgage journey? You can compare the latest rates yourself on Teito or take advantage of a free, no-obligation chat with one of our whole-of-market brokers, if you'd prefer to speak to an expert - get started here.