Mortgage rates in 2026 could drift lower, but expecting a clean, straight-line drop is wishful thinking. Lenders price in expectations early, inflation surprises still move markets fast, and your “best” move depends more on your deal end date, your deposit or equity, and your risk tolerance than on any headline forecast.
Feb 16, 2026
If you’re buying your first place, moving home, or staring at a remortgage date in the next 3 to 9 months, you’re probably asking the same thing: Should I wait, fix, or go tracker? This guide breaks down what typically drives UK mortgage pricing, what the most common 2026 scenarios look like, and what you can do now to protect yourself without trying to “time” the market.
If you want personalised advice, we do everything remotely across the UK by phone or WhatsApp.
Here’s the clean version, without the noise:
A practical rule: if your deal ends soon, act early and stay flexible. If your deal ends ages away, focus on improving your position (deposit, equity, credit, affordability) so you qualify for the better pricing when the time comes.
Mortgage pricing is basically a tug-of-war between four forces:
If inflation prints higher than expected, markets quickly price in “rates staying higher for longer”. Even if the base rate does not change that month, fixed-rate pricing can still worsen.
Most fixed-rate mortgages are closely linked to swap rates (what banks pay to borrow money over a set period). Swap rates move on expectations, not just what the Bank of England did yesterday.
Sometimes rates fall because lenders want volume, not because the economy got nicer overnight. That’s why you’ll see a “rate war” and then a pullback a few weeks later.
Loan-to-value, credit history, income stability, and property type can matter as much as the wider market. Two people can apply in the same week and get very different outcomes.
“The biggest mistake borrowers make is trying to predict the market instead of planning for their own timeline. Forecasts don’t pay your mortgage, structure does.” “If your deal ends in the next six months, the smart move is to secure something workable now and stay flexible. That protects you if rates rise and gives you room if pricing improves.”
If you’re looking for certainty, you won’t get it. But you can think in scenarios:
This is the “most likely boring outcome”. You might see fixed rates edge down over the year, but not crash. Good for buyers who can already afford now.
Rates bounce around. A few lenders cut, a few hike, headlines change, and nothing is stable for long. This is where “lock now, review later” becomes a smart move.
This is the one that hurts. If inflation stays stubborn, markets stop pricing cuts, swaps rise, and fixed rates can jump quickly. This is why waiting can backfire.
If you want a simple takeaway: do not build your plan on “rates will definitely be cheaper in a few months”. Build your plan on what you can control.
This is where most blogs waffle. Let’s be blunt.
Pick a fix if:
Fixing is not about “winning”. It’s about sleeping at night.
A tracker can make sense if:
But if the base rate stays put, trackers can stay expensive for longer than people expect.
There’s no universal answer. This is the real question:
If you want help choosing, we’ll map it to your actual timeline and risk tolerance, not generic advice. (See our About Us page if you want to know who you’re dealing with.)
If your fixed deal ends in the next 6 months, you have a clean advantage: you can usually secure a new deal in advance. That means:
This is the approach most people should take because it protects you from the “rates spike again” scenario while still giving you a shot at a better deal later.
If you want to sense-check whether switching is worth it, use the Mortgage Calculator to run payment comparisons quickly, then speak to us so we can test it properly with fees, incentives, and true cost.
If you’re remortgaging for a specific reason, you might also want to read:
The biggest mistake first-time buyers make is thinking the forecast is the deciding factor. It’s not.
What actually matters:
If you’re early in the process, get your numbers straight first. Then decide how much rate risk you can handle.
Start here if that’s you:
And if you’re considering protection at the same time (which you should, even if it’s boring):
Most people obsess over forecasts, then ignore the basics that move the needle.
Do these instead:
Pay down balances, avoid new credit applications, check for errors. Small changes can affect the rates you’re offered.
If you can shift into a better LTV band, the pricing difference can be real. That might mean a slightly bigger deposit, or waiting until equity improves, but only if your timeline allows.
Term length, repayment vs interest-only (where appropriate), fees vs rate, and incentives matter. A lower rate with a huge fee can be worse value.
You want someone who looks at the whole market and stress-tests the product, not someone who just grabs the lowest headline rate.
If you want to understand the difference a broker actually makes, read:
Waiting can be smart, but only under specific conditions:
Wait if:
Do not wait if:
If you’re buying or remortgaging and want a clean plan, we’ll run the options properly and tell you what we’d do in your shoes, including the risks and trade-offs.
Relevant services:
Forecasts are opinions, not promises. Mortgage decisions should be based on affordability and risk tolerance, not headlines. If you’re unsure, speak to a regulated adviser.
If your mortgage deal ends in the next 3 to 6 months, or you’re buying in 2026 and want clarity on your options, speak to us.
We’ll review your situation properly, compare lenders across the market, and map out a strategy that fits your budget and risk tolerance.
No pressure. No guesswork.
If you’re a council tenant wondering whether you need a deposit to buy your home, the answer is often no. With the Right to Buy scheme, many lenders allow the council discount to be used as your deposit, meaning you can purchase your property without putting down cash savings. While affordability, credit history, and property type still matter, the right advice can make the difference between thinking homeownership is out of reach and actually making it happen.
Read ArticleMortgage rates in 2026 could drift lower, but expecting a clean, straight-line drop is wishful thinking. Lenders price in expectations early, inflation surprises still move markets fast, and your “best” move depends more on your deal end date, your deposit or equity, and your risk tolerance than on any headline forecast.
Read Article
If you are moving home, you may be able to take your mortgage with you, but it is not guaranteed. Most UK mortgages are portable, however you still have to reapply, meet current lending rules, and get the lender’s approval. Porting keeps your existing rate, but extra borrowing usually goes on a new deal and early repayment charges can still apply in some cases. Before deciding, compare porting against switching mortgages, as changing lender can sometimes be cheaper and simpler long term.
Read ArticleIf you’re buying, moving, or remortgaging, speak with a MBNM adviser and get clear guidance on what’s realistically available to you, before you commit to anything.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Mortgage Brokers Near Me LTD is an Appointed Representative of The Right Mortgage LTD which is authorised and regulated by the Financial Conduct Authority.
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. The Financial Conduct Authority does not regulate Will Writing and some forms of Trusts and Buy to Lets. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
Mortgage Brokers Near Me LTD are registered in England and Wales with company number 15189091.
C/O The Financial Management Centre, Meads Business Centre, 19 Kingsmead, Farnborough, England, GU14 7SR
