Last updated: 2 April 2025 at 13:10
Lowest fixed rates fluctuate across multiple sectors, meanwhile the mortgage market winds down in February.
Net mortgage borrowing was found to have fallen by £0.9 billion to £3.3 billion in February, according to the latest Bank of England Money and Credit report. Net mortgage approvals also fell by 600 in the same period after having dropped by 400 in the month prior.
“While we had seen a slight flurry of activity in the preceding months given people would still have had time to beat the stamp duty changes, many of those who left it too late to get a purchase completed will have put their plans on hold,” explained Thomas Lambert, Financial Planner at Quilter.
The changes to stamp duty land tax (SDLT), which took effect on 1 April 2025, may leave many scrambling to adjust to the newly lowered thresholds, though some lenders have responded by offering rewarding cash incentives to support prospective borrowers.
This week, the lowest two-year rate unfortunately crept back up to 4.13% for remortgage borrowers, while the lowest five-year fixed rate slipped to 4.07% in the homemover market. Meanwhile, borrowers looking to join the property ladder will find a mix of cuts and increases as lenders reprice various deals.
Below, we provide more information on these and other lowest fixed mortgage rates available to remortgage borrowers, homemovers and first-time buyers. Keep in mind, though, the lowest rate may not always be the most cost-effective for your needs and circumstances. That’s why we’ve also offered some alternatives which feature on our Moneyfacts Best Buy chart based on their overall true cost.
For a wider overview of the market, you can visit our mortgage charts.
