UK Mortgage Rate History & Tracker
Track the Bank of England base rate alongside 2-year fixed, 5-year fixed, and standard variable mortgage rates from 2015 to today. Data sourced directly from the Bank of England's IADB and updated monthly.
Current Rates
Bank Rate
3.75%
Official Bank of England base rate
2yr Fixed 75% LTV
3.91%
Best-buy two-year fixed, 25% deposit
5yr Fixed 75% LTV
3.95%
Best-buy five-year fixed, 25% deposit
SVR
6.62%
Standard variable rate (revert rate)
Bank of England Base Rate History
Monthly data — Bank Rate, 2yr fixed 75% LTV, 5yr fixed 75% LTV, SVR
How much could you borrow at today's rates?
Our free mortgage affordability calculator shows your maximum borrowing, estimated monthly repayment at the current 2yr fixed rate, and which UK regions fit your budget.
Try the Free Calculator →Frequently Asked Questions
What is the current Bank of England base rate?
The Bank of England Monetary Policy Committee (MPC) sets the base rate at scheduled meetings roughly every 6 weeks. The chart above shows the latest official rate. As of early 2025 the base rate stands at 4.50%, down from its 5.25% peak in 2023.
How does the Bank Rate affect my mortgage?
If you are on a tracker mortgage or a standard variable rate (SVR), a rise in the Bank Rate usually leads to a near-immediate increase in your monthly payments. Fixed-rate mortgages are not directly affected until your deal ends, though new fixed rates are priced off market swap rates which move in anticipation of Bank Rate changes.
What is the difference between a 2yr and 5yr fixed rate?
A two-year fixed rate gives you certainty for a shorter period and typically comes with a lower initial rate, but you will need to remortgage sooner. A five-year fix offers longer protection against rate rises at a slightly higher initial rate. Most buyers opt for a five-year fix when rates are falling and the gap between 2yr and 5yr is small.
What is a Standard Variable Rate (SVR)?
An SVR is the rate your lender automatically moves you to when your fixed or tracker deal expires. SVRs are set independently by each lender (not directly tied to the Bank Rate) and are typically 2–4 percentage points higher than the best available deals. Staying on an SVR is almost always expensive — use our calculator to see what remortgaging could save you.
Data sources: Bank of England IADB series IUMABEDR (Bank Rate), IUMB2GH, IUMB5GH (2yr/5yr fixed 75% LTV), IUMB2IH, IUMB5IH (2yr/5yr fixed 90% LTV), IUMHPTLMMNL (SVR). Series updated monthly.