Bank of England quoted rates · June 2026
UK mortgage rates today
The average advertised rate across UK lenders for each fix period and loan-to-value band, published monthly by the Bank of England. Every deal is built on the 3.75% base rate plus a margin for funding cost, capital, and credit risk.
Data updated 2026-07-09
- 3.75%
- Bank of England base rate
- 4.81%
- 2-yr fix · 75% LTV
- 4.65%
- 5-yr fix · 75% LTV
- 6.60%
- average SVR
The picture
The cheapest average deal is the 5-year fix at 4.65% (75% LTV); the SVR at 6.60% sits 2.8pp above base rate, the gap that makes letting a fix lapse so costly.
- 4.65%
- cheapest (5-yr, 75% LTV)
- 4.76%
- 2-yr fix at 90% LTV
- 6.60%
- average SVR
- 3.75%
- Bank of England base rate
Source: Bank of England quoted household interest rates, June 2026.
This page reloads the latest BoE quoted-rate snapshot (June 2026). Come back after the next monthly release, or subscribe to the guides & research RSS when new explainers publish.
Snapshot cells by product family
Exclusive cut of the 6 quoted-rate cells in June 2026: fixed products versus the SVR cell.
Fixed cells by LTV band
Exclusive LTV bands across 5 fixed-rate cells. Orthogonal to the ranked product chart below.
Fixed cells by fix length
Exclusive fix lengths across the same 5 fixed-rate cells.
Quoted mortgage rates by product
Bank of England average advertised rate, June 2026
- 5-yr · 75%
5-year fixed, 75% LTV
4.65 %
- 2-yr · 90%
2-year fixed, 90% LTV
4.76 %
- 2-yr · 75%
2-year fixed, 75% LTV
4.81 %
- 5-yr · 95%
5-year fixed, 95% LTV
5.18 %
- 2-yr · 95%
2-year fixed, 95% LTV
5.19 %
- SVR
Standard variable rate
6.6 %
What this shows Five-year fixes are the cheapest way to borrow at 75% LTV right now; the standard variable rate is far above every fixed product, which is why remortgaging before a fix ends almost always pays.
Bank of England base rate
Fixed-rate mortgages by LTV
A fixed-rate mortgage holds its rate for the fix length, then reverts to the lender's SVR unless you remortgage. Lower loan-to-value bands attract sharper rates because the lender's capital risk is lower.
| LTV band | Fix length | Average rate | MoM | Margin over base |
|---|---|---|---|---|
| 75% LTV | 2-year fix | -0.11pp | +1.06pp | |
| 75% LTV | 5-year fix | -0.15pp | +0.90pp | |
| 90% LTV | 2-year fix | -0.12pp | +1.01pp | |
| 95% LTV | 2-year fix | -0.13pp | +1.44pp | |
| 95% LTV | 5-year fix | -0.06pp | +1.43pp |
The standard variable rate (SVR)
The SVR is the rate you land on when a fix expires and you don't remortgage. It is set at the lender's discretion and currently averages 6.60% - about 2.8 percentage points above the 3.75% base rate, and far more than any fixed product here. Remortgaging in the months before a fix ends is almost always the cheaper move.
How rates changed this month
Between May 2026 and June 2026, average quoted fixed rates fell by 0.11 percentage points on average. The table below shows the month-on-month movement for every product and LTV band.
| Product | May 2026 | June 2026 | Change |
|---|---|---|---|
| 2-yr fix · 75% LTV | 4.92% | 4.81% | -0.11pp |
| 5-yr fix · 75% LTV | 4.80% | 4.65% | -0.15pp |
| 2-yr fix · 90% LTV | 4.88% | 4.76% | -0.12pp |
| 2-yr fix · 95% LTV | 5.32% | 5.19% | -0.13pp |
| 5-yr fix · 95% LTV | 5.24% | 5.18% | -0.06pp |
| SVR | 6.60% | 6.60% | 0.00pp |
Change is the difference in the Bank of England's average quoted rate between the two most recent monthly snapshots. A falling rate does not guarantee cheaper deals: individual lender pricing, fees, and eligibility criteria also determine your offer.
How UK mortgage rates are set
The Bank of England sets Bank Rate - the rate it pays commercial banks on reserves, and that is the floor under every lender's funding cost. From there each mortgage rate is built up as base rate plus the bank's swap-market funding cost, the regulatory capital it must hold against the loan, a credit-risk premium for the LTV band, and a profit margin.
Why fixed and variable rates move at different speeds
Trackers move within one billing cycle of every MPC decision because the contract says "Bank Rate + X". Fixed rates are priced off the swap curve, so they can move weeks ahead of the base rate when the market changes its rate expectations. The SVR is a managed rate the lender adjusts at its discretion, usually lagging base-rate moves.
Why higher LTV bands cost more
A 90% or 95% LTV deal costs more than a 75% one because a modest house-price fall could leave the loan under-secured, and because higher-LTV lending requires materially more regulatory capital, a cost passed straight through into the headline rate.
What to do with today's rates
The headline number is the start of the decision, not the end of it.
- Run these rates against your own loan size and term in the calculator. Mortgage calculator
- Compare a 2-year against a 5-year fix at your LTV before you commit. Compare products
- See how today’s base rate compares with the last few years. Rate trends
Average quoted rate ≠ the rate you'll be offered; fees and your credit profile change the real cost.
According to the Bank of England and HM Land Registry, whose House Price Index is built from more than 1,000,000 registered property transactions a year, every rate shown here is loaded from the June 2026 Bank of England quoted-rate snapshot under the Open Government Licence, with the Financial Conduct Authority regulating the lenders that ultimately set each deal. Our methodology documents each source and its refresh cadence.
Related
Download the UK metro price-to-income snapshot cited on this page: uk-metro-price-to-income.csv (CC BY 4.0 for this derived file; Bank of England and HM Land Registry source tables remain OGL).