⚡ Quick Answer
The best mortgage rate today is 3.91% (HSBC, 2yr Fixed, 75% LTV). For a £250,000 mortgage over 25 years this means monthly payments of approximately £1,300. Use our mortgage calculator to work out your own payments.
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Today's Best Mortgage Rates
We compare 14,200+ mortgage products from 47 lenders every day. Here are today's best buys across different mortgage types:
| Lender | Type | Rate | APRC | Max LTV | Fees | Verdict | |
|---|---|---|---|---|---|---|---|
| HSBC | 2yr Fixed | 3.91% | 6.3% | 75% | £999 | Best Buy | Apply |
| Barclays | 2yr Fixed | 3.96% | 6.4% | 80% | £0 | No Fee | Apply |
| Nationwide | 5yr Fixed | 4.10% | 6.8% | 85% | £0 | Popular | Apply |
| Halifax | 5yr Fixed | 4.22% | 6.9% | 90% | £995 | — | Apply |
| NatWest | 2yr Tracker | 4.33% | 7.1% | 75% | £0 | — | Apply |
| Virgin Money | 10yr Fixed | 4.50% | 6.5% | 80% | £995 | Long-term | Apply |
Rates accurate as of 29 June 2025. Subject to individual eligibility. FCA guidance on mortgages ↗
Expert Tip — Sarah Mitchell, Mortgage Adviser (CeMAP)
A lower rate isn't always the cheapest mortgage overall. Always calculate the total cost over the deal period, including fees. A 3.85% mortgage with a £999 fee can cost more than a 3.88% mortgage with no fee — especially on smaller loan amounts. Use our mortgage calculator to compare the true cost.
Types of Mortgage Explained
✅ Fixed Rate Mortgages
- Rate stays the same for 2, 5 or 10 years
- Monthly payments are predictable
- Protection from rate rises
- Best for budgeting and security
⚠️ Variable Rate Mortgages
- Rate can go up or down
- Tracker: follows Bank of England base rate
- SVR: set by lender, can change anytime
- Higher risk but can save money if rates fall
Mortgage Eligibility
Most UK lenders will assess your eligibility based on these key factors:
- Income: Typically 4–4.5x your annual salary (or joint income)
- Deposit: Minimum 5%, best rates from 25%+ deposit
- Credit score: Higher = better rates. Check free at Credit Score
- Employment: Employed, self-employed or contractor all eligible
- Affordability: Lender stress-tests your repayments at higher rates
For official affordability guidance, see FCA mortgage guidance and the MoneyHelper home buying guide ↗.
Mortgage Guides by Situation
Complete step-by-step guide to buying your first home in 2025.
CCJs, defaults, IVAs — which lenders will approve you?
Best BTL rates and how rental income affects eligibility.
When to remortgage and how to get the best deal.
Sole trader, limited company or contractor — what you need.
Buy a share of a home with lower deposit requirements.
Mortgages for Specific Professions
Frequently Asked Questions
Related Searches
- Whole-of-market brokers see deals comparison sites never list, especially for non-standard income
- Start remortgage shopping up to 6 months before your fix ends — you can lock now and switch if rates fall
- Loan-to-value bands (95/90/85/80/75%) drive pricing — a small extra deposit can cross a cheaper band
- Benchmark total cost over the fixed period — rate plus fees, not headline rate alone
Read This Before You Apply
Watch the fee, not just the rate. A £999 arrangement fee on a lower rate only pays off above a certain loan size — roughly £130,000+ for typical gaps. Below that, fee-free wins despite the higher headline rate.
Get your decision in principle before falling in love with a property. It's a soft-search estimate of your borrowing power that estate agents increasingly require before viewings, and it surfaces problems months before they can derail a purchase.
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