Some lenders are increasing their rates again, what does that mean for you? …

Over the last few days, some of the lenders have emailed to say that they are increasing mortgage rates across a range of different products.

UK mortgage pricing has moved higher ahead of this week’s Bank of England decision. The base rate is currently 3.75% with the next decision due on the 17th September 2026.

For home owners and landlords coming off a fixed rate, and buyers looking to secure a mortgage, this could mean:

• higher monthly repayments

• greater affordability pressure

• more uncertainty around remortgaging

• less certainty that mortgage rates will fall in the near term

The key message don’t assume that mortgage rates will automatically come down just because the Bank of England has previously fallen. Fixed rates are influenced by market expectations and lender’s funding costs, so they can move ahead of any Bank of England decision.

If your current deal expires in the next few months, get ahead of it! You may be able to secure a new rate early - and if rates improve before completion, there may still be the opportunities to switch.