Average fixed rates drop by 3 basis points: Moneyfacts

Average Fixed Mortgage Rates Fall by 3 Basis Points

Major price cuts by lenders have pushed average mortgage rates for two, three, and five-year fixed terms down by 3 basis points this week.

Current Average Rates

Two-year fixed rate: 4.92%
Three-year fixed rate: 4.84%
Five-year fixed rate: 4.98%

Notable Rate Reductions by Category

Five-year fixed rates at 50% loan-to-value (LTV) dropped by 7 basis points.
Two-year fixed rates at 50%, 60%, and 75% LTV fell by 6 basis points.
Three-year fixes at 60% and 65% LTV, as well as two-year fixes at 75% LTV, decreased by 5 basis points.
Five-year fixed rate at 90% LTV lowered by 4 basis points, benefiting borrowers with smaller deposits.
Several other product categories saw rate declines of 1 to 3 basis points.

Lender Rate Cuts This Week

Virgin Money cut rates by up to 33 basis points.
TSB reduced rates by up to 15 basis points.
Royal Bank of Scotland and NatWest lowered rates by 9 basis points.
Lloyds Bank cut rates by 9 basis points.
Halifax made two reductions on selected fixed rates: first by 20 basis points, then by 9 basis points.
Santander reduced selected rates by up to 10 basis points.

"The overall average mortgage rate also reduced below 5% to 4.98%."

These rate cuts reflect an overall easing in fixed mortgage costs across various loan-to-value categories.

Author’s summary: This week saw a modest decline in average fixed mortgage rates, with significant cuts from major lenders reducing the overall average rate just below 5%.

Mortgage Strategy — 2025-11-07

Average Fixed Mortgage Rates Fall by 3 Basis Points

Current Average Rates

Notable Rate Reductions by Category

Lender Rate Cuts This Week

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