Mortgage Rate Update 20/03/26

Daniel Dawes
14 hours ago
2 min read

Hi All,

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

Mortgage Rate Update

Unfortunately, this week’s update makes tougher reading.

The ongoing conflict in Iran continues to drive significant volatility across global markets, with rising oil and gas prices feeding expectations of higher inflation. As a result, swap rates(the rates banks use when trading with each other and a key driver of fixed mortgage pricing) have risen sharply, and mortgage rates have followed.

Over the past week we’ve seen:

The largest withdrawal of mortgage products since the October 2022 mini‑budget
Some lenders increasing rates twice in a single day
Most pricing returning to levels last seen in May 2025

Across the products listed below, the combined “best available” rates have risen by 20.31% in just two weeks, 14.56% in the last week alone. To put that into perspective:

Two weeks ago, 30 of these products began with a “3” — that number is now 7
Products starting with a “4” have increased from 39 to 57
Products starting with a “5” have risen from 3 to 8

We will be watching tomorrow’s Bank of England meeting closely, but current market expectations are for the base rate to be held at 3.75%.

Given the continued pressure in swap markets, we expect rates to remain on an upward trajectory over the next week, though not at the same scale we’ve seen recently.

As always, we will continue to act quickly to protect clients and secure the most competitive rates available as soon as opportunities arise.

Purchase mortgages

Total change across the board: 7.77% increase!
Fixed rate change: 7.31% increase!
Variable change: 0.46% Increase
Biggest drop: None
Biggest increase: 5 year fixed at 80% LTV with a increase of 0.41%!!

Remortgages

Total change across the board: 6.79% Increase!
Fixed rate change: 6.72% Increase!
Variable change: 0.07% Increase
Biggest drop: None
Biggest increase: 2 year fixed at 60% LTV, 5 year fixed at 90% LTV, 10 year fixed at 80%/85%/90% LTV all with an increase of 0.35%!!