Welcome to this week's look at where mortgage rates stand, with a focus on large loans and buy-to-let. The big picture is unchanged: Bank Rate is on hold ahead of the next decision on 5 November, while fixed rates remain close to 6% and lenders continue to reprice at short notice. Moneyfacts' latest monthly report, published on 19 October, gives us a fuller view of how far rates moved over September.
This week in numbers
| Measure | This week | Source and date |
|---|---|---|
| Bank of England Bank Rate | 3.75% (unchanged) | Bank of England, decision of 17 September 2026; next announcement 5 November 2026 |
| Average 2-year fixed (residential, all LTVs) | 5.93% (5.59% a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 (data as at start of October) |
| Average 5-year fixed (residential, all LTVs) | 5.95% (5.63% a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 (data as at start of October) |
| Residential products available | 8,696 (7,516 a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 |
| Average shelf-life of a mortgage deal | 13 days (14 days in September) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 |
According to Moneyfacts, the average 2-year fix rose by 0.34 percentage points and the average 5-year fix by 0.32 points between September and October. Product choice grew by 1,180 deals over the month, but deals are lasting less than two weeks on average. Moneyfacts links this to swap rates, which underpin fixed-rate pricing, reacting to every sign of geopolitical escalation or easing. Its weekly roundup on 21 October also reported that the lowest remortgage rates rose across the board that week.
Large loans and private banks
When deals are repriced every couple of weeks, timing and preparation matter even more on larger loans. For borrowing of £1m and above, private banks and specialist lenders tend to look at overall wealth, assets and income structure rather than salary alone, and interest-only or part-and-part can be considered case by case. Read more about high-value mortgages and private bank lending.
Buy-to-let
We could not confirm updated Moneyfacts buy-to-let averages for this week, so we have left them out of the table rather than estimate. The same pressures on funding costs apply to landlord lending, so rental cover and structure deserve a fresh look before any fix ends. Explore our buy-to-let mortgages and limited company buy-to-let pages, or try the buy-to-let calculator.
What it means for you
- Fixed rate ending in the next six months? Many lenders let you secure a new rate months ahead of your current deal ending. Set a rate reminder so you do not drift onto a standard variable rate.
- Watching the 5 November decision? Fixed rates are priced from swap rates rather than Bank Rate alone, so having your paperwork ready can matter more than waiting for the announcement.
- Landlords: check your rental cover against current rates before your fix ends, and consider whether your ownership structure still suits your plans.
Every case is different, and averages only tell part of the story. If you would like us to look at your options across the market, Start your enquiry or call 0203 971 1234.
Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let and commercial mortgages are not regulated by the Financial Conduct Authority. There may be a fee for mortgage advice: we may charge up to 1% of the loan, and our typical fee is £500. Rates quoted are market averages from the sources shown, not offers, and are subject to lender criteria. Our Mortgage Broker Limited is authorised and regulated by the Financial Conduct Authority, FRN 944663.
Important: This guide is general information, not personal advice. Rules, rates and lender criteria change; speak to an adviser about your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage.