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Why this feels important right now

After years of higher interest rates following the 2021–22 boom, many borrowers are:

  • Remortgaging off older fixed deals that were much cheaper
  • Watching anxiously for signs that mortgage costs could fall
  • Trying to decide whether to fix now or wait for potential further cuts

Even small moves in the best-buy rate can make a tangible difference to monthly payments — especially on larger loans.

What brokers are saying

According to brokers quoted by MoneySavingExpert:

  • Cheapest fixes around 3.5% are now being shown in best-buy tables.
  • Some market participants still expect base rate cuts later in 2026, which could push prices modestly lower before year-end.
  • However, many lenders are pricing deals cautiously and may only offer small adjustments at a time.

This reflects market expectations rather than official policy — lenders price mortgage deals based on anticipated future rate movements, not just the current Bank of England base rate.

Fix now vs wait: what the commentary implies

There isn’t a one-size-fits-all answer, but brokers often highlight that:

  • Waiting for cheaper rates can pay off if cuts arrive and deals improve further
  • Delaying too long risks filling your mortgage gap with a higher standard variable rate (which is usually much more expensive than the best fixes)
  • For people nearing the end of a fixed term, locking in a stable rate may be a priority over chasing small market movements

The balance between saving money and avoiding payment uncertainty is personal — and this article offers information, not personal advice.

What this means for your mortgage search

If you’re in the market now:

  • Compare a range of lenders rather than focusing on headline numbers
  • Look at rates that match your loan-to-value (LTV) and income profile
  • Bear in mind that the “cheapest” deals might carry stricter eligibility criteria

Mortgage pricing can vary widely between borrowers, so the best-buy rate table is a starting point, not a guaranteed offer.

If your current deal is ending soon

Many borrowers in this situation are asking:

  • Should I fix now even if rates are higher than I’d like?
  • Will mortgage costs really come down later in 2026?

Those are legitimate questions — but they depend entirely on your circumstances (income, deposit size, balance of flexibility vs certainty, etc.).

This article is general information, not advice. What’s right for one person might not be right for another.

Want to explore rates based on your situation?

You can request mortgage quotes to see what deals lenders might offer you today based on your personal profile.

(This provides information — it isn’t a recommendation or financial advice.)