Since January, we have seen a significant reduction in the amount of mortgage products in the market and many lenders are keeping their best deals for customers with loan-to-value ratios (LTVs) of between 80% to 60% or less.
Significantly, recent events have led the Bank of England to drop the Bank of England’s Base Rate twice in a month to an historic all-time low of 0.1%. This has seen many lenders follow suit. According to Moneyfacts, “the total number of mortgage deals across all LTVs fell by 2,221. Although the number of mortgage deals has fallen significantly during 2020 so far, resulting in less competition overall in the market, the average SVR [Standard Variable Rate] has also fallen and is now 0.42% lower than at the start of the year”.
Despite this generally good news for borrowers, there’s more! The average fixed rate loan (for 2 or 5 years) has dropped on average by 0.5% with the average two year fixed deal now costing about 1.98% and the average five year deal costing 2.31% according to Derin Clarke at moneyfacts. “The average five year fixed rate at 80% LTV has seen the biggest fall and is now 0.37% less than in January”, she said.
The bottom line here is that there has never been a better time for you to secure record low deals when remortgaging your home. Money remains historically ‘cheap’ and with new fixed-rate deals now very low, there’s never been a better time to consider remortgaging your home and saving thousands!
In today’s uncertain times, remortgaging on historically low fixed rate deals might be one thing you can control in this uncertain world. For an initial discussion contact us at Mortgage Required and let’s see what’s best for your circumstances.
Download our Free First Time Buyers Guide
Recent posts
Best UK Mortgage Rates this Week
4 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Maidenhead, Berkshire – 26th January 2026 – Dedicated independent mortgage experts, Mortgage Required, are delighted to have acquired fellow experienced brokerage, Y-Not Finance.
The acquisition connects two well-respected brokerages, both with a wealth of experience and shared values, to continue providing the best advice on all aspects of the mortgage market.
As part of the UK government’s plans to change the leasehold system to help families struggling with unaffordable ground rent costs.
The Prime Minister announced this morning (27 January) that ground rents will be capped at £250 per year, reverting to a peppercorn rate after 40 years.
Additional borrowing, also known as a further advance, is when you borrow more money on your existing mortgage for a specific reason agreed with your lender.
Here are five of the most common reasons for additional borrowing.
UK Housing Market Round-Up: 2025
30 Dec 2025
Property search site Zoopla has estimated that the UK housing market will end 2025 with approximately 1.15 million completed sales – 4.5% more than the previous year.
Take a look at the 2025 summary of the UK housing market.
Buying in the New Year
29 Dec 2025
If buying your first property, or moving home, is on your to-do list this year, the new year can be a great time to take this big step. In this short blog, we look at what you need to consider as you plan and prepare for your home-buying journey.
Just because the Bank of England decides to reduce the base rate, this doesn't automatically mean that your mortgage rate will go down.
Autumn Budget 2025: A Summary
26 Nov 2025
Chancellor, Rachel Reeves, has delivered the Autumn 2025 budget. We have summarised the government's plans for tax and spending.
More information
Trusted by
