The last article we wrote is here from January
Im not sure where rates will be, there were emails after the last post from lenders reducing rates. We then had around 2 weeks where rates seem to edge up and then they have stayed quite stable, if not some slight reductions since. I suppose I am expecting rates to be very similar to where they were in January.
What mortgage rates we are looking at?
As ever, we always look at the same 4 scenarios for some consistency. The 4 scenarios are:
- 2 year fix at 90% LTV with a £999(ish) fee.
- 5 year fix at 90% LTV with a £999(ish) fee.
- 2 year fix at 85% LTV with a £999(ish) fee for adverse*
- 5 year fix at 85% LTV with a £999(ish) fee for adverse*
*Adverse in these examples is someone with 5 defaults from 2 years ago. Enough to mean we cant go to the high street.
What mortgage rates are available now?
I think this table is an accurate reflection of what I was expecting. 2 year fixes are both the same as they were last month.
5 year fixes, around 0.05% difference.
Its a bit boring as far as graph goes, but after recent years I am happy with that! I still have 2023 firmly in my mind so boring is good!
Mortgage rates in 2026
I still think unless something drastic happens rates will continue to come down throughout the year but slowly and it will only be when you look at it over a 12 month period that it will stand out. But with everything going on in the world, I dont think it would take much to change that – time will tell!
Summary
Much the same really. With the exception of the 2 year adverse product, all of these products have been relatively flat since December.
I dont think that will change between now and next month on that front either.
It makes it difficult to write about but I will take calm and steady every day of the week.