Best Rates
Best mortgage rates this week: Tracker deals start from 3.96% in April 2026
Halifax tracker mortgages lead the market at 3.96% for purchases, while Nationwide offers the lowest fixed rates from 4.55%. Here's where to find the best deals this week.
Purchase mortgages: Halifax trackers lead the pack
For new purchases and home movers, Halifax delivers the standout deal with a tracker mortgage at 3.96% for borrowers with a 40% deposit (60% LTV), carrying a £999 arrangement fee. This represents a significant 0.21 percentage point margin below the current Bank of England base rate of 3.75%, making it an attractive option for borrowers comfortable with rate variability. The Bank of England have stated they are being "cautious" when it comes to changing the base rate, which could be an indication to borrowers that the rate may be left unchanged, so a tracker mortgage may be the most attractive option for borrowers looking to take advantage of the low base rate, and have lower monthly repayments.
On the fixed-rate front, Nationwide takes the lead with a 4.55% two-year fixed rate at 60% LTV, also with a £999 fee. The same lender offers competitive longer-term security with a 4.73% five-year fix and a 5.19% ten-year deal, both at the same LTV tier.
Mid-range deposits: Competitive pricing at 75% LTV
Borrowers with a 25% deposit continue to see strong competition. Halifax maintains its tracker advantage with 4.08% at 75% LTV, while the fixed-rate battle sees Halifax offering 4.69% for two years compared to Nationwide's 4.78% five-year fix.
The five-year option from Nationwide represents just a 0.09 percentage point premium over Halifax's two-year rate, potentially offering attractive value for borrowers seeking longer-term certainty.
Higher LTV lending: HSBC enters the fray
HSBC makes its presence felt in the 90% LTV purchase market, offering both 4.87% two-year and 4.94% five-year fixed rates with £999 fees. These rates, updated on 23rd April, undercut several competitors and provide borrowers with meaningful choice.
For those stretching to a 5% deposit, Halifax leads with both 5.37% two-year and 5.36% five-year options at 95% LTV. Notably, the five-year rate actually sits fractionally below the two-year option, creating an unusual pricing dynamic that favours longer-term fixes.
Remortgage rates: Different dynamics emerge
However, there are some differences in remortgaging rates compared to purchase rates. While Nationwide keeps their 4.55% two-year and 4.73% five-year fixed rates at 60% LTV unchanged, HSBC provides remortgage trackers at 4.39%, which is significantly higher than the Halifax's 3.96% purchase tracker.
At 90% LTV, however, remortgage rates are completely different. For example, the two-year and five-year remortgage rates offered by Nationwide are 5.26% and 5.19%, respectively. Interestingly, this case demonstrates an unusual situation when the five-year remortgage fixed rate is lower than the two-year remortgage fixed rate. Also, this rate is considerably higher than that of purchases; for instance, the two-year remortgage rate is 0.39 percentage points higher than the same rate of HSBC's.
Product availability and restrictions
Arrangement fees among the major lenders generally average about £999, making them a common cost to factor in.
As you move up to 95% LTV, the choices narrow considerably. There are no ten-year fixed-rate deals available whether the loan is for buying a home or for remortgaging, suggesting that the lender is being careful about offering long-term deals at such high levels of borrowing. Also, trackers are not offered at this LTV.
Weekly rate movements
The most recent pricing updates show HSBC refreshing rates on 23rd April, while Halifax and Nationwide both updated their offerings on 24th April. This suggests active management of pricing across the major lenders as they respond to funding cost changes and competitive pressures.
Compare mortgage rates across all lenders
While these represent the headline best-buy rates, individual circumstances often mean alternative products prove more suitable. It is important to speak to a mortgage broker who will be able to stress-test your financial situation to be able to identify and offer recommendations on whether a fixed or tracker mortgage is best for you. [RateWatch] is the only platform to give you live rates across 475 lenders in the UK - so subscribe today and take advantage!
Frequently Asked Questions
Should I choose a tracker or fixed rate with current pricing?
Halifax's 3.96% tracker for purchase mortgages at 60% LTV offers the lowest headline rate, but carries rate variation risk. With the base rate at 3.75%, you're currently paying just 0.21% margin, but this could change. Nationwide's 4.55% two-year fix provides certainty at a 0.59% premium over the tracker rate. Consider your risk tolerance and whether you can afford potential rate rises.
Do arrangement fees make lower rates less attractive?
All the best-buy rates quoted carry £999 fees, creating a level playing field for comparison. On a £300,000 mortgage, this fee adds roughly 0.03% to your effective annual rate over two years, or 0.07% over five years. The rate differential between products remains the primary consideration rather than fee variations.
Why do 95% LTV mortgages have limited options?
Lenders restrict high loan-to-value lending due to increased risk. Ten-year fixes and tracker mortgages aren't available at 95% LTV from any major lender currently. Halifax offers the best 95% LTV rates at 5.36%-5.37%, but you'll be limited to shorter fixed terms. Consider whether increasing your deposit to reach 90% LTV opens better options.
Are remortgage rates always higher than purchase rates?
Not always, but often at higher LTVs. At 60% LTV, Nationwide offers identical rates for purchase and remortgage (4.55% two-year, 4.73% five-year). However, at 90% LTV, remortgage rates jump significantly - Nationwide charges 5.26% for remortgage versus HSBC's 4.87% for purchase. This reflects different risk assessments and competitive pressures.
When should I consider a ten-year fixed rate?
Ten-year fixes suit borrowers prioritising long-term certainty over rate competitiveness. Nationwide offers 5.19% at 60% LTV for purchases, compared to 4.73% for five years - a 0.46% premium for doubling your rate protection period. Consider this if you plan to stay put and want to avoid multiple remortgage cycles, but be aware you'll likely pay above-market rates for much of the term.