GuideBuying a home
Mortgage rates
The average rates UK lenders quoted each month for 2-, 3- and 5-year fixed mortgages since 1996, next to Bank Rate.
Use it
Example
In August 2026 Bank Rate averaged 3.75% and a 2-year fix at 75% loan-to-value 4.92%: 1.17 percentage points above Bank Rate. September's fixed rates are blank because the Bank had not published them when we last downloaded the data. See the whole history in the mortgage rates tracker.
How we calculate it
- Four monthly series from the Bank of England Database: the monthly average of Bank Rate (IUMABEDR) and the average quoted rate on new 2-, 3- and 5-year fixed mortgages at 75% loan-to-value (IUMBV34, IUMBV37, IUMBV42).
- The chart starts in January 1996. The data was downloaded on 5 October 2026 and is stored with the app.
- The gap is the fixed rate minus Bank Rate, in percentage points.
- A month the Bank has not published stays blank and breaks the line; it is never drawn as zero.
- The buy-to-let calculator shows the latest 2- and 5-year rates as a hint.
The fine print
- These are averages across lenders for a 75% loan. Your own rate depends on your deposit, your circumstances and the lender; buy-to-let loans usually cost more.
- The fixed rates are not seasonally adjusted.
- Not financial advice. These are rough sums with your own numbers; check them with a solicitor, mortgage broker or tax adviser before you rely on them.
- Source: Bank of England. Data © the Governor and Company of the Bank of England, reproduced under the Open Government Licence v3.0.