Best Rates
Best UK Mortgage Rates After the BoE Hold: Where to Find Value on 20 March 2026
Two days after the Bank of England held at 3.75%, the dust is settling on a fortnight of rate increases. We round up the best deals still available across purchase, remortgage, and tracker products.
The Landscape After Two Weeks of Increases
The past fortnight has seen the most aggressive mortgage repricing since late 2023. Rising swap rates, driven by Middle East geopolitical tensions and surging oil prices, forced every major lender to raise fixed rates — some by as much as 35 basis points. The sub-4% era for 2-year fixes is now effectively over.
But within this higher-rate environment, there are still meaningful differences between lenders. Here is where the value sits as of 20 March 2026.
Best Purchase Rates (75% LTV, Low Fee)
| Product | Lender | Rate | Fee |
|---|---|---|---|
| 2-Year Fixed | NatWest | 4.32% | £1,495 |
| 5-Year Fixed | NatWest | 4.52% | £1,495 |
| 2-Year Tracker | Barclays | 3.55% (BoE+0.80%) | £899 |
| 5-Year Tracker | Barclays | 3.70% (BoE+0.95%) | £899 |
Best Remortgage Rates (60% LTV, Low Fee)
| Product | Lender | Rate | Fee |
|---|---|---|---|
| 2-Year Fixed | NatWest | 4.32% | £1,495 |
| 5-Year Fixed | NatWest | 4.52% | £995 |
| 2-Year Tracker | Nationwide | 4.04% (BoE+0.29%) | £999 |
Key Observations
NatWest dominates fixed pricing. Despite their 35bp increase on 17 March, NatWest remains the cheapest for 2-year and 5-year fixes at most LTV tiers. Their product fee of £1,495 is on the higher side, but the rate differential more than compensates on loans above £200,000.
Barclays leads on trackers. Their new purchase tracker at base + 0.80% (currently 4.55% after their March repricing, but still among the lowest) offers the cheapest variable rate on the market. For borrowers who believe cuts will eventually resume, this could save thousands over a 2-year term.
Nationwide offers the best remortgage tracker. At base + 0.29% (currently 4.04%), Nationwide's remortgage tracker is exceptionally tight to the base rate — ideal for borrowers with strong equity positions who want maximum benefit from any future rate cuts.
Products Withdrawn This Week
Several lenders have pulled deals entirely rather than reprice:
- Co-operative Bank — withdrew all products for new customers with no replacement date
- Coventry Building Society — gave notice of rate withdrawals, replacements expected next week
- West Bromwich — fixed rate withdrawals with no immediate replacements
Product withdrawals typically signal further increases are coming. When a lender pulls a deal, the replacement usually comes at a higher rate.
The 90-95% LTV Picture
Higher LTV borrowers — typically first-time buyers — have seen sharper increases. Best 2-year fixes at 90% LTV are now around 5.0–5.3%, compared to 4.5% just a month ago. The gap between 60% and 95% LTV pricing has widened to roughly 80–100bp, reflecting lenders' growing caution about house price risk in an uncertain environment.