Mortgage Rate Update 11/03/26

Hi All,

Please see below table of the current best rates for purchases available across the various mortgage options and loan to values.

Mortgage Rate Update

Unfortunately, it’s not the most encouraging update this week, with rate increases across most products. The conflict in Iran has had a significant impact on markets, mainly because rising oil and gas prices increase the risk of higher inflation. As a result, the odds of a Bank of England base‑rate reduction have dropped sharply, and some institutions are even pricing in the possibility of a rate rise later in the year.

We’ve seen the largest weekly jump in mortgage rates for well over a year, effectively wiping out the reductions we gained since November/December 2025. Swap rates, the rates banks use to trade with each other and a major driver of fixed mortgage pricing, have risen much faster than mortgage rates themselves. That gap could indicate that further increases may still be coming if markets don’t settle.

For now, the hope is that oil and gas prices stabilise and tensions ease. If that happens, we should start to see downward pressure on rates again.

Purchase mortgages

• Total change across the board: 3.17% increase!

• Fixed rate change: 2.54% increase!

• Variable change: 0.63% Increase

• Biggest drop: None

• Biggest increase: Tracker at 95% LTV with a increase of 0.24%!!

Remortgages

• Total change across the board: 2.58% Increase!

• Fixed rate change: 1.96% Increase!

• Variable change: 0.62% Increase

• Biggest drop: None

• Biggest increase: Tracker at 95% LTV with a increase of 0.20%!!

Please don’t hesitate to contact us if you would like further information on these.

Dan Dawes

CeMap Mortgage and Protection Consultant

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