Will mortgage rates fall in 2026?

Unlikely near-term. Middle East conflict has pushed up gilt yields, forcing lenders to raise fixed rates. Experts now expect rates to stay elevated through most of 2026.

Should I fix my mortgage now?

If your deal ends within 6 months, fixing now protects you from further rises. Most brokers recommend a 2-year fix to retain flexibility.

What is the average UK mortgage rate right now?

As of April 2026, average 2-year fixed rates sit around 4.8–5.2% and 5-year fixes around 4.6–4.9%, depending on LTV.

Is now a good time to buy a house in the UK?

Property prices have softened in some regions. If you can afford repayments at current rates, buying can still make sense — especially with stamp duty relief for first-time buyers.

Mortgages ⏱ 3 min read 📅 Updated May 2026

Mortgage Rates Won't Fall This Year — Here's What to Do Now

Middle East tensions have killed hopes of mortgage rate cuts. Here's exactly what to do if you're remortgaging, buying or on SVR in 2026.

Chandraketu Tripathi

Finance Editor, Kaeltripton

Published 3 Apr 2026

Last reviewed 3 May 2026

✓ Fact-checked

Mortgage Rates Won't Fall This Year — Here's What to Do Now

Part of our UK mortgage rates guide. See the main pillar for the full lender comparison, FRN-verified best buys by LTV band and worked-example payments: Best Mortgage Rates UK 2026.

Breaking — April 2026

If you were hoping mortgage rates would fall significantly this year, that hope has now been officially shelved. Conflict in the Middle East has sent UK gilt yields surging — and lenders have responded by raising fixed mortgage rates rather than cutting them.

The Bank of England base rate has remained unchanged, but gilt yields — the rate the government pays to borrow — drive fixed mortgage pricing. And they've spiked hard.

What this means: Anyone hoping for a base rate cut to bring mortgage costs down in 2026 may be waiting until 2027 at the earliest. The OECD has downgraded UK growth to just 0.7% for 2026 and raised inflation forecasts to 4%.

Who Is Most Affected?

Mortgage Type	Situation — April 2026	Action
Fixed deal expiring in 3–6 months	Will remortgage onto higher rates	Lock in a deal now — offers held 6 months
Tracker mortgage	Moves with base rate — stable for now	Consider fixing for certainty
Standard Variable Rate (SVR)	Expensive — avg SVR ~7.5%	Remortgage immediately
First-time buyer	Rates high but lenders competing	Use a broker to find best LTV deal

What Should You Do Right Now?

✅ Action Plan — April 2026

Expiring within 6 months? Lock in a new deal now — you can reserve a rate up to 6 months ahead.
On SVR? You're likely paying 7%+. Remortgage as a priority.
On a tracker? Relatively protected for now — but watch for further escalation.
Buying for first time? Use a whole-of-market broker — rates vary by up to 1% for the same LTV.

Current Mortgage Rates — April 2026

Product	Rate (April 2026)	LTV
2-year fixed	4.79% – 5.20%	60–90% LTV
5-year fixed	4.59% – 4.95%	60–90% LTV
Tracker	~5.0% currently	Varies
SVR (average)	7.49%	N/A

Bottom line: Don't wait for rates to fall. If your deal is ending, lock in now. If you're on SVR, you're overpaying today. Use a whole-of-market broker — not your existing lender — to find the best deal.

By Chandraketu Tripathi · Updated April 2026 · kaeltripton.com

Part of our complete guide:

UK Mortgage Rates April 2026 - Current Rates & Guide →

Find a whole-of-market mortgage broker →

Editorial Disclaimer

The content on Kaeltripton.com is for informational and educational purposes only and does not constitute financial, investment, tax, legal or regulatory advice. Kaeltripton.com is not authorised or regulated by the Financial Conduct Authority (FCA) and is not a financial adviser, mortgage broker, insurance intermediary or investment firm. Nothing on this site should be construed as a personal recommendation. Rates, figures and product details are indicative only, subject to change without notice, and should always be verified directly with the relevant provider, HMRC, the FCA register, the Bank of England, Ofgem or other appropriate authority before any financial decision is made. Past performance is not a reliable indicator of future results. If you require regulated financial advice, please consult a qualified adviser authorised by the FCA.

Chandraketu Tripathi

Finance Editor · Kaeltripton.com

Chandraketu (CK) Tripathi, founder and lead editor of Kael Tripton. 22 years in finance and marketing across 23 markets. Writes on UK personal finance, tax, mortgages, insurance, energy, and investing. Sources: HMRC, FCA, Ofgem, BoE, ONS.