26/03/2026
Mortgage rates are back in the headlines, and if your current deal ends in 2026, this is a sensible time to review your options.
Over recent days, lenders have repriced products and withdrawn mortgage deals as markets react to renewed inflation concerns and wider global uncertainty. Reporting this week says the average two-year fixed mortgage rate has risen to around 5.43%, while more than 500 products have been pulled from the market. The Bank of England has also kept Bank Rate at 3.75% while warning that higher energy prices could keep inflation under pressure1.
That does not mean homeowners should panic. It does mean planning ahead is more important.
Reviewing your mortgage early gives you time to understand what your next monthly payment could look like, what options may be available and what best suits your plans over the next few years. It also gives you more time to think about your wider finances, rather than making a decision under pressure.
In many cases, it may be possible to secure a new mortgage deal ahead of time and, if rates improve before the new deal starts, switch to a lower one. That depends on your lender’s rules and your individual circumstances, but it can provide reassurance in a market where pricing is changing quickly3.
Speaking to your mortgage and protection adviser can help you look at the bigger picture, not just the interest rate. Alongside your mortgage options, they can also discuss how any change in monthly payments may affect your wider financial plans and whether your current protection arrangements still reflect your circumstances.
References:
The Guardian (2026). UK mortgage interest rates expected to rise despite Trump’s Iran pause. [online] the Guardian. Available at: https://www.theguardian.com/business/2026/mar/23/uk-mortgage-interest-rates-markets-bank-of-england-iran-war [Accessed 24 Mar. 2026].
MoneyHelper (2025). Can I change my mortgage provider? | MoneyHelper. [online] Available at: https://www.moneyhelper.org.uk/en/blog/buy-or-rent-a-home/can-i-change-my-mortgage-provider? [Accessed 24 Mar. 2026].
MoneySavingExpert (2026). Getting ready to remortgage. [online] MoneySavingExpert.com. Available at: https://www.moneysavingexpert.com/mortgages/getting-ready-remortgage/ [Accessed 24 Mar. 2026].
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All the information in this article is correct as of the publish date 26th March 2026. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.
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