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Mortgage rates
See what your personalised mortgage rate could be with Lloyds. Use the calculators to see our latest mortgage rates, see how much you could borrow and what your monthly repayments might be.
You could lose your home if you don’t keep up your mortgage repayments.
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There are different types of mortgage rates, including:
- fixed rate – your mortgage interest rate stays the same for the length of your deal
- tracker rate – this rate follows the Bank of England base rate, which means it will go up or down if the base rate changes
- standard variable rate (SVR) – your lender will move you on to an SVR when your mortgage deal comes to an end. It’s usually more expensive than other mortgage rates, so it can often be a good time to switch to a new deal.
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Mortgage rates are influenced by many factors, and we can’t say for sure whether they’re going to rise or fall. The calculators show our current mortgage rates so you can check the latest deals.
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Mortgages rates can be affected by a range of things, from personal details to government decisions. The main factors include:
- the Bank of England base rate
- the rate of inflation
- your credit history
- your deposit amount
- your loan term.
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It depends on the type of mortgage you have. If you have a fixed rate mortgage, your mortgage rate will stay the same for the length of your fixed rate term. If you have a tracker rate, your mortgage rate will increase in line with the Bank of England base rate. So, if it goes up by 0.5%, your mortgage rate will also go up by 0.5%.
If you’re on a Standard Variable Rate (SVR) mortgage, your interest rate is decided by your lender. So, while it’s not directly tied to the base rate, your lender may still choose to increase your mortgage rate if the base rate rises.
You can use our interest rate change calculator to find out more.
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It all comes down to your personal circumstances, and the mortgage rates. A shorter fixed term mortgage might give you the chance to switch to a better rate if interest rates start to fall in the next 2 years. A five-year fixed term mortgage can give you an extra level of security, as you know exactly what your rate is for the next 5 years.
Interest rates can be hard to predict, so it’s important to make sure you can afford your mortgage repayments for however long you fix your mortgage for.
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