Welcome to this week's look at where mortgage rates stand, with a focus on large loans and buy-to-let. This is a week of waiting: the Bank of England's Monetary Policy Committee announces its next decision on Thursday 5 November, and Moneyfacts has not yet published a new monthly report since our last update, so the averages below are unchanged from last week. Moneyfacts' consumer team noted on 28 October that most of the lowest fixed rates have held firm, which is a calmer picture than September's sharp repricing.
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% (unchanged since last week's update; 5.59% a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 |
| Average 5-year fixed (residential, all LTVs) | 5.95% (unchanged since last week's update; 5.63% a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 |
| 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 a month earlier) | Moneyfacts UK Mortgage Trends Treasury Report, published 19 October 2026 |
| CPI inflation, September 2026 | 3.5% | Office for National Statistics, as reported by Moneyfactscompare.co.uk, 21 October 2026 |
With inflation at 3.5% in September, its highest level so far this year, the 5 November decision is being watched closely. Fixed rates are priced mainly from swap rates rather than Bank Rate alone, and Moneyfacts has linked recent volatility to swap rates reacting to geopolitical news. Some of the market's expectations may therefore already be reflected in today's pricing.
Large loans and private banks
With deals lasting under two weeks on average, according to Moneyfacts, preparation is often what makes the difference on a larger loan. For borrowing of £1m and above, private banks and specialist lenders tend to assess overall wealth, assets and income structure rather than salary alone, and interest-only or part-and-part repayment 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 funding pressures apply to landlord lending, so it is worth checking rental cover and ownership structure well before a 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 before your current deal ends. Set a rate reminder so you do not drift onto a standard variable rate.
- Waiting for 5 November? A decision on Bank Rate does not move every fixed rate straight away, so having your documents ready can matter more than timing the announcement.
- Landlords: review rental cover against current rates and consider whether your ownership structure still suits your plans before your fix ends.
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.