Average two- and five-year mortgage rates are about to reach 6%, according to the latest Moneyfacts rate watch.
The average two-year fixed rate rose from 5.92% last Friday to 5.96% today, its highest point since late June 2024, while the average five-year fixed rate rose from 5.94% to 5.98%, its highest point since late September 2023.
Moneyfacts finance expert Rachel Springall said: “Mortgage rates remained volatile this week, with a number of lenders raising fixed rates while others made cuts, highlighting the uncertainty facing borrowers and brokers.
“The latest repricing comes as UK house price growth has also weakened, with Nationwide recording annual growth of just 0.8% in September, down from 1.6% in August and the weakest rate since December 2025. The average UK house price is now £273,176, falling to its lowest level since February 2026.”
Moneyfacts said a borrower taking out a £250,000 mortgage over 25 years would face repayments of around £1,605 per month based on the current average two-year fixed rate of 5.96%.
That’s £165 more each month than the average rate of 4.85% at the start of February.
Fixed rate increases
- Aldermore – Increase fixed rate mortgage loans by up to 46 bits per second.
- Bank of Ireland Brokers – Increase fixed prices by up to 10 bpswith on-demand order prices rising by 15 basis points.
- Bank of Ireland in the United Kingdom – Increase fixed prices by up to 10 bps.
- Barclays Mortgage – Increase fixed prices by up to 30 bits per second on September 29, followed by further increases of up to 21 bits per second On October 2.
- First live – Increase fixed prices by up to 36 bits per second.
- Furness Building Society – Heartland specific rates increased by up to 20 bps.
- General H – Increase fixed rates by up to 60%-80% of LTV 15 bits per second.
- Halifax – Increase fixed fixed prices by up to 15 bits per second.
- Kensington – Increase fixed fixed prices by up to 15 bits per second.
- Lloyds Bank – Increase fixed fixed prices by up to 15 bits per second.
- Milton Building Society – Increase fixed prices by up to 36 bits per secondwith credit repair rates raised by a certain percentage 76bps.
- National Building Society – Increase fixed fixed prices by up to 21 bits per second.
- Newbury Building Society – Increase current fixed rates by up to 40 bits per second.
- Perennial – Increase fixed prices by up to 62 bits per second.
- Emirate Building Society – Increase fixed fixed prices by up to 16 bits per second.
- Progressive Building Society – Increase fixed rates by 50 bps.
- Skipton Building Society – Increase fixed fixed prices by up to 19 bits per second.
- United Credit Bank – Increase fixed prices by up to 40 bits per second.
- Virgo money – Increase fixed fixed prices by up to 16 bits per second.
Fixed price discounts
- Furness Building Society – Fixed prices reduced by up to 35 bps.
- Leeds Building Society – Fixed rate mortgages have been reduced by up to 15 bits per second.
- Emirate Building Society – One fixed price reduced by 5 bits per second.
- Tipton and Cosley Building Society – Fixed rate mortgages have been reduced by up to 11 bits per second.
Track and monitor variable discounted price changes
- Environmental Building Society – Increase Eco Home’s variable discount rate by 20 bps.
- Loughborough Building Society – New discounted two-year variable rate launched on 5.90%With a discount of 1.99%.
- National Building Society – Increase mortgages with a specified variable tracking rate by up to 9 bits per second.
- Newbury Building Society – Made to measure a variable rate discounted by a percentage 30 bits per secondalong with new discounted variable rates.
- Progressive Building Society – Variable rates reduced by a percentage 50 bps.
- Tipton and Cosley Building Society – Selected discounted prices reduced by up to 11 bits per second.
- United Credit Bank – Increase variable tracking rate mortgages by a percentage 20 bps.
Product launches, recalls and other changes
- Barclays Mortgage – Selected fixed prices were withdrawn on September 29.
- Bath Building Society – Two-year fixed withdrawal rate of 5.29%.
- Cambridge Building Society – Launching new fixed rates of 5.99% for two years and 6.09% for five years.
- Furness Building Society – Launching a new two-year fixed interest rate of 5.54%.
- Halifax – End dates for direct work have been extended.
- HSBC – Completion dates have been extended.
- Kensington – The selected fixed prices have been withdrawn and will not be replaced.
- Leeds Building Society – Launching new fixed rates starting from 5.69%, in addition to new fixed Reach rates from 5.81%, both at 95% LTV.
- Lloyds Bank – Completion dates have been extended.
- Milton Building Society – Credit repair expiration dates have been extended.
- Newbury Building Society – Repricing existing rates, extending the expiry date and launching new fixed and discounted variable rates.
- Penrith Building Society – The fixed rate mortgage range has been withdrawn.
- precise – The range has been withdrawn and relaunched with new fixed rates for one, two and five years.
- Progressive Building Society – Withdraw fixed prices to purchase a specific home.
- Emirate Building Society – Extend expiration dates across the domain.
- Tipton and Cosley Building Society – The specified price expiration dates have been extended.
