Remortgage Rates 2026 — Updated October 2026
- best 2yr remortgage fix (Halifax, £999)
- 4.88%best 2yr remortgage fix (Halifax, £999)
- best 5yr (Halifax, £999)
- 4.94%best 5yr (Halifax, £999)
- average SVR
- 7.13%average SVR
- BoE base rate (held 17 Sep 2026)
- 3.75%BoE base rate (held 17 Sep 2026)
As of 1 October 2026 the best 2-year remortgage fix is 4.88% and the best 5-year is 4.94% (both Halifax, £999 fee, 60% LTV). If your deal ends and you do nothing, you move to your lender's SVR — 7.13% on average. Lenders let you secure a rate up to six months early.
Remortgage Rates — October 2026
Swipe the table sideways to see every column.
| Product | Best remortgage rate | Notes |
|---|---|---|
| 2-year fix | 4.88% (Halifax, £999, 60%) | Next: 5.06% HSBC, Monmouthshire BS |
| 5-year fix | 4.94% (Halifax, £999, 60%) | 5.02% NatWest, Danske Bank |
| 10-year fix | 5.21% (Santander, £1,224, 60%) | |
| 2-year tracker | 4.06% (Halifax, £1,499, 60%) | |
| Product transfer | Lender-specific | Compare against the market before accepting |
What moves your remortgage rate
Fee-charging vs fee-free remortgage — total cost comparison
The lowest headline rate almost always comes with an arrangement fee (typically £999–£1,999). On a small remortgage (under £150,000), a fee-free deal at a marginally higher rate often costs less over the fixed period. On a large remortgage (£250,000+), the lower rate typically wins even after paying the fee. DBF always presents both options with a total cost comparison over the fixed period before recommending.
Early repayment charges — when to act and when to wait
Most fixed-rate mortgages carry an ERC during the fixed period — typically 1%–5% of the outstanding balance, reducing annually. Switching early costs the ERC plus any new arrangement fee. DBF calculates the break-even point: the month at which the saving from the better rate exceeds the exit cost. For a £300,000 mortgage, a 1% ERC is £3,000 — recovered in approximately 24 months at a 0.50% rate saving (£1,500 a year less interest). Many lenders allow you to lock in a new rate up to 6 months before your current deal ends, removing ERC risk entirely.
2-year vs 5-year fix
The best 2-year (4.88%) and 5-year (4.94%) remortgage fixes are priced almost identically. For borrowers settled in their home who want payment certainty, a 5-year fix buys that certainty at little extra cost. For those expecting to move or significantly overpay within 3 years, a 2-year fix remains more flexible.
Remortgage timeline — starting 6 months early
Most lenders allow a new rate to be agreed up to 6 months before completion of the remortgage. Starting the process 5–6 months before your current deal ends locks in the rate available today while avoiding any ERC. If rates fall before completion, DBF re-brokers to a better deal. If rates rise, the locked-in rate is protected. There is no cost to starting early.
What drifting to your lender's SVR costs: worked example
- On a 7.13% SVR
- £1,958 a month
- On a 4.88% fix
- £1,633 a month
- Drifting to SVR costs
- £324 a month, £3,893 a year
£250,000 over 20 years.
Rates rose in September — lock in today, review before completion
The figures above are indicative and describe the best case. Send your own scenario and we will come back the same working day with terms from the lenders that actually fit it.
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Rate context and outlook
The Bank of England held Bank Rate at 3.75% on 17 September 2026, its sixth consecutive hold, but three of nine MPC members voted to raise it to 4.0%. The Committee warned policy may have to tighten if the Middle East conflict persists.
Fixed rates are priced from swap rates, and the 2-year swap rose from 4.26% on 3 September to above 4.70% by mid-month, so most major lenders repriced fixed rates upward two or three times in September. The next decision is on 5 November. If your deal ends in the next six months, securing a rate now and reviewing it before completion is the lower-risk approach.
Reviewed by David Doulton, Director, Doulton Bridging Finance — over 20 years in property finance. Last reviewed 1 October 2026. Doulton Money Ltd t/a Doulton Bridging Finance, FCA No. 814533.
Frequently asked questions
What is the best remortgage rate in October 2026?
The best 2-year remortgage fix is 4.88% and the best 5-year is 4.94% (both Halifax, £999 fee, 60% LTV). If your deal ends and you do nothing, you move to your lender's SVR — 7.13% on average. The best rate for you depends on your LTV, loan size, and whether paying an arrangement fee makes sense for your balance.
Will remortgage rates fall?
Not on current signals. The Bank of England held at 3.75% on 17 September with three votes for a rise, and swap rates — which set fixed-rate pricing — rose sharply in September. The next decision is on 5 November.
Can I lock a rate now and switch if rates fall?
Yes — most lenders let you secure an offer up to six months ahead, and a broker can move you to a cheaper product before completion if rates drop.
Should I fix for 2 or 5 years when remortgaging in 2026?
The best 2-year (4.88%) and 5-year (4.94%) remortgage fixes are almost identical. For borrowers planning to stay in their home, a 5-year fix offers payment certainty at little extra cost. For those expecting to move within 3 years, 2-year flexibility may outweigh that certainty. DBF models both options with a total cost comparison for your specific situation.
When should I start the remortgage process?
Start 5–6 months before your current deal expires. Most lenders allow you to lock in a rate this far ahead, completing when your deal ends. This removes both ERC risk (you switch at the end of your deal) and rate rise risk (rate is locked in now). There is no cost to starting early.
How much does remortgaging cost?
Arrangement fee: £0–£1,999 (choose fee-free or add to the loan). Valuation: £0–£500 (many lenders offer free valuations for remortgages). Legal fees: £0–£500 (most lenders offer free legal work for a standard remortgage). Total out-of-pocket: often £0 for a like-for-like remortgage with a fee-free product. ERC from your existing lender: check your current deal terms.
Can I remortgage to release equity?
Yes — a remortgage can raise the loan amount to release equity from your property (capital raise). The new loan must be assessed against your current income and expenditure. LTV limits apply. Most lenders cap residential remortgages at 85%–90% LTV. DBF advises on the maximum release available and which lenders offer the best terms for equity release remortgages.
How much can I borrow?
Usually 4 to 4.5 times income, with some lenders going to 5 or 5.5 times for higher earners and certain professions, subject to affordability.
How long does a mortgage take?
A mortgage in principle takes minutes to a day; a full offer usually takes 2–4 weeks from application.
Is a lower rate with a high fee better than a no-fee deal?
It depends on the loan size. On smaller loans the no-fee deal often wins; we compare the total cost over the fixed period.
How early can I remortgage?
You can secure a new deal up to six months before your current one ends.
What documents will I need?
ID, proof of address, 3 months' payslips and bank statements, or 2 years' accounts or tax calculations if self-employed.
Where this applies
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Independent whole-of-market advice · FCA No. 814533