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Mortgage rates

Journalist: Callum Mason, i

ended 27. November 2025

What is today's Budget likely to mean for mortgage rates and Bank of England interest rates?

What customers who are coming to the end of a fixed rate in the coming months do now? Should they look to fix now, or wait?

For those on variable rates, hoping to see rates go down before they fix, are further reductions in rates likely?

4 responses from the Newspage community

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Aaron Strutt
Product and Communications Director at Trinity Financial
Mortgage rates have fallen significantly over the last few months, and there are many cheap fixed-rate options. With more people paying higher taxes, lower mortgage rates will be even more important, so we can expect a base rate cut in December. First-time buyers will still be keen to get on the property ladder, and more landlords will be looking to access better rates or switch to limited company structures.
Taking a fixed rate now and then switching to cheaper deals as and when they are available makes sense. Borrowers need to make sure they keep an eye on the market and the rates being offered, particularly a few weeks before their new deal is about to go live.
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Jack Tutton
Director at SJ Mortgages
The initial reaction from the financial markets doesn't suggest that they are particularly shocked by the Chancellors budget today. That's mainly down to a lot of the announcements being leaked ahead of the budget along with the OBR report being released right before she was due to take to the dispatch box. We have seen rates coming down for a sustained period more recently, with markets wanting stability, this trend should continue in the near future given the lack of shocks in todays budget. Lenders are likely already factoring in a base rate cut in December, this will be welcome to mortgage holders ahead of what is for many the most expensive time of the year.
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Mike Staton
Director at Staton Mortgages
What goes up more come down and rates have been coming down since they peaked at 6 or 7%. The Chancellor made a sweeping statement that inflation and rates have dropped since they took control of the UK but that was inevitable, they may have well have said that ice has melted since they took power! I expect to see low 3% and late 2% mortgages in 2026, irrelevant of labours attempt to destroy the economy
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Elliott Culley
Director at Switch Mortgage Finance
There was significant concern that the outcome of the budget could lead to higher mortgage rates. The markets have initially reacted well and rates look likely to stay at current levels. In the coming days the position may change, so it would be advisable for anyone in the need to remortgage within the next 6 months, to be proactive and not leave it last minute to make sure you get the best possible rate for the future.