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Nationwide Building Society has announced it will reduce selected fixed rates by up to 0.25% from tomorrow, Friday 24 April. This includes rates across their first-time buyer, home mover, and existing customers moving home ranges.

Halifax is also making changes to its mortgage products, with effect from Friday, 24 April, reducing mortgage and first-time buyer rates by up to 0.15%.

Nationwide’s last mortgage rate change was on the 1st April, and while its rates were pretty much market leading at the time, they didn’t look great. This time, Nationwide has gone one step further than its competitors by offering two-year fixes priced around 4.50%, three-year fixes and five-year fixes just below 4.7%.

Aaron Strutt, product director at Trinity Financial, says: "Nationwide's tracker rates look good as they start from just below 4.15% although Halifax tracker rates are priced beow 4%. While it is great to see rates come down again, the only question is how long it will be before the lender has to increase them. The cost of funding mortgages has increased, and lenders often do not wait long to pass those increases on to borrowers."

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

NatWest is lowering mortgage rates by up to 0.37% tomorrow across its residential and buy-to-let mortgage ranges.

The lender is cutting prices across its new business, existing customers and additional borrowing products. The move follows reductions from Halifax, HSBC and a number of other lenders last week.

On Friday, Moneyfacts revealed that average fixed rates had edged downwards week on week for the first time since the outbreak of war in Iran at the end of February.

The mortgage rate cuts at NatWest are extensive, covering property purchase, remortgage and product transfer for landlords and owner occupiers. Its biggest reduction is to a fee-free five-year fixed rate for residential house purchases with a 5% deposit, which is falling by 0.37%. Many of its other rates have been lowered by more than 0.20%.

Aaron Strutt, product director at Trinity Financial, says: “NatWest is lowering its tracker margins as well as its fixes, which is nice to see because some other lenders have raised their trackers just as they have become more popular.

“NatWest is reducing its two-year fix by 0.10% to around 4.65%, marginally undercutting Nationwide’s current best-buy deals. NatWest's five-year fixes for borrowers with larger deposits also undercut Nationwide, starting at just over 4.75%. The mortgage market remains in a difficult position, given the latest developments in the Middle East and how much they affect mortgage pricing.”

Natwest's lowest mortgage rates are available to borrowers putting down a 40% deposit; they have a £1,499 arrangement fee with a £1,999,999 maximum mortgage loan size. Nationwide's lowest rates are typically available for mortgages between £300,000 and £5 million. 

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

The volume of remortgage applications surged 46% in Q1, prompting overall mortgage activity to jump by a quarter, figures from Stonebridge show.

The mortgage firms' data highlights that in the first quarter of 2026, overall mortgage activity rose strongly with 24.6% more applications year-on-year, driven largely by a 45.8% surge in remortgaging activity as rafts of borrowers continued to come off ultra-low pandemic era mortgage products. Five years ago in March 2021 as the pandemic driven ‘race for space’ was well underway, effective interest rates on new mortgage borrowing fell to just 1.85%.

The Bank of England’s Credit conditions Survey for Q4 had predicted in January that remortgaging activity would increase in the first quarter while secured lending activity for house purchase was expected to fall.  

How many mortgages take fixed or tracker rates? 

Stonebridge's MMI shows mortgage applications for property purchases dipped 3.6% annually in Q1. Meanwhile, the share of variable rate mortgages climbed 0.8ppts from 4.7% to 5.5% YoY, with fixed rate deals remaining by far the most popular at 94.5% of the market.

Mortgage terms of 2 years have been increasing in popularity. Their share rose by a quarter from 51.6% of all home loans to 65.2%. The share of 5 year mortgages fell from 39.4% to 29%. 

Borrowing costs fell annually, despite the impact of rising swap rates due to the Iran conflict in March. The average interest rate dropped 0.43 year-on-year from 4.74% to 4.31%. Loan-to-values remained relatively stable, falling just 1ppt to 61%. This means most homeowners have 39% equity in their property. 

Remortgaging activity is expected to remain strong throughout the year. UK Finance reported in December that 1.6 million fixed-rate mortgages expired in 2025, with a further 1.8 million due to end this year.

Rob Clifford, Chief Executive at Stonebridge, said: “We know many borrowers locked into attractive five-year rates during the pandemic. Now that so many of those consumers are reaching the end of the deals they grabbed at that time, we are naturally seeing huge demand for advice on refinancing options.

“That will continue throughout this year, with plenty of lenders dynamically pricing both product transfers and remortgage deals to win market share. We’re likely to see a reversal in rate volatility in the second half of the year and the popularity of variable or tracker rates might increase. If the energy crisis is short lived, a variable product would allow borrowers to capitalise on a falling base rate once the conflict subsides but this is a time when impartial and expert mortgage advice is worth its weight in gold.”

Source: Stonebridge Mortgage Market Index

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Homebuyers paid £15.2bn in stamp duty land tax during the 2025-26 tax year, up from £13.9bn the previous year, according to analysis of HMRC data by Coventry Building Society.

Coventry says the increase follows the reduction in the nil-rate threshold from £250,000 to £125,000 last April, a change which raised the tax bill on an average priced home in England by £2,500.

Latest figures show the average property price has risen to £290,001, meaning more buyers are now being drawn into the tax net as values increase.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Stamp Duty is a big chunk of money on top of an already expensive process.

“With house prices rising so sharply over the past decade, out-of-date thresholds are pulling far more buyers into the tax net. Homes that once sat comfortably below the starting point are now being caught simply because prices have moved on.

“With inflation now at 3.3% the cost of living remains a real pressure – many aspiring buyers are already juggling higher everyday expenses, making a hefty bill even harder to absorb.

“Covering the tax could mean people need to dig deeper into savings, lean on family for support, or compromise on the kind of home they want to buy. It makes it harder to take the next step, whether that’s upsizing, downsizing or moving when family circumstances change.

“Reforming Stamp Duty would give buyers meaningful support at a time when many are already stretched. Without change, the risk is we continue to penalise aspiration and slow down a housing market that depends on people being able to move freely.”

What are the stamp duty payment brackets?

Use the HMRC SDLT calculator to work out how much tax you’ll pay.

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Source: The Intermediary

Leeds Building Society has boosted its Income Plus mortgage range — increasing the maximum loan-to-income ratio from 5.5x to 6x and opening it up to home movers and remortgagers, not just first-time buyers.

The lender says that amid life changes and rising costs, the number of potential mortgage borrowers who need more flexibility is increasing. These changes to mortgage criteria provide more ways to help borrowers at each stage of their homebuying and mortgage journeys.

The key Leeds Income Plus mortgage include: 

• Up to 6 x loan to income available for first-time buyers (FTB), home movers and remortgages with a minimum household income of £75,000
• Up to 5.5 x loan to income available for home movers and remortgagers with a minimum household income of £50,000 and FTBs with a minimum household income of £30,000
• Minimum 5% deposit required for FTBs
• Minimum 10% deposit required for home movers and remortgagers (loan-to-value limits apply to remortgage, dependent on capital raising purpose)
• Available for new build (subject to limits) and self-employed applicants
• Products are available on five-year fixed-rate deals

Aaron Strutt, product director at Trinity Financial, says: "Most of the lenders offer their larger income stretch mortgages to first-time buyers and higher earners, but they don’t normally issue them to remortgage customers, so it is good to see the more generous mortgages being available for remortgages as well.

"You would have to be quite brave to take six times your salary at the moment, unless you really like the property you want to buy, especially if you can only just meet the affordability requirements. More lenders issuing 5.5- and 6-times-salary mortgages are finding they are so popular that they need to issue more smaller-income-multiple mortgages to balance the books. This shows the growing need for income stretching and how it is helping all types of borrowers get on the property ladder.

"The Leeds Income Plus five-year fixed mortgages start from just over 5% with a 15% deposit, which isn’t too bad, especially given the scale of mortgage price hikes we have seen. With a household income of £75,000, clients may be able to borrow up to 6x their income. Or with a household income of at least £50,000 (£30,000 for first time buyers), they may be able to borrow up to 5.5x their income. This gives them extra flexibility to buy, move or remortgage. Most of the big lenders offer 5.5 times salary mortgages now and some provide six times salary like HSBC, Barclays and Bank of Ireland."

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Can you have part of your mortgage on a fixed rate and part on a tracker?

Yes, some lenders do allow it. Barclays, Santander, Skipton Building Society, TSB and HSBC all allow many borrowers to split a mortgage so that one part is on a fixed rate and another part is on a tracker, although the rules and fees vary. Barclays says the mortgage rate parts need to be in the same loan-to-value band, and you would normally pay the higher of the two fees.

Santander allows up to four product types, but arrangement fees may apply to each part. TSB says if both products carry a fee, both fees are payable. HSBC and Halifax also allow it, but if both parts have a product fee, two fees are due. Coutts is one of the private banks that allow mortgages on a fixed-rate basis and in part on a tracker basis.

What is the difference between a fixed rate and a tracker?

A fixed-rate mortgage gives you a guaranteed rate for a set period, usually two, three or five years. Your monthly payment stays the same during that deal period, which is why it appeals to people who like certainty. A tracker mortgage moves in line with an external rate, usually the Bank of England base rate plus a set percentage. 

Why would someone take part fixed and part tracker?

It can be a halfway house. Part fixed gives you some security. You know a chunk of the mortgage is protected if rates stay high or rise again. Part tracker gives you flexibility and the chance to benefit if rates fall.

That can suit borrowers who do not want to put the whole mortgage on one bet. Instead of going fully fixed or fully variable, they spread the risk. If rates fall, the tracker side could get cheaper. If rates do not fall, at least the fixed part provides some protection.

What are the benefits?

The main one is balance. You get some payment certainty without giving up all of the upside if rates come down. It can also help borrowers who are nervous about the current market, but do not want to commit every penny of their mortgage to a fixed deal today.

Another plus is flexibility. Tracker products sometimes have lower or no early repayment charges, depending on the lender and product, so splitting the mortgage can give a borrower more room to overpay, refinance or review options later. That said, this depends entirely on the product, so it needs to be checked carefully.

It can also be useful for borrowers who think rates may edge down over time, but who are not confident enough to leave the whole mortgage exposed. That feels relevant at the moment because the Bank of England has held Bank Rate at 3.75%, but inflation has moved back up, which makes the near-term path for rates less predictable.

What are the downsides?

The biggest downside is complexity. Aaron Strutt, product director at Trinity Financial, says: "You are effectively taking out two mortgage products at the same time, which can mean two different rates, two end dates, two sets of terms and, with some lenders, two product fees. Santander, TSB and HSBC all indicate that multiple fees can apply depending on the products chosen. Barclays often charges a one-product fee when a fixed/tracker rate combination is taken.

"There is also a risk that the tracker side becomes more expensive than expected. If inflation stays sticky or external shocks keep prices under pressure, the Bank of England may be slower to cut rates than borrowers hope. More borrowers are taking tracker rates at the moment as some tracker rates are much cheaper than the lowest fixes. Part interest-only and part capital-repayment mortgages are also still popular with our clients."

Is it worth taking the risk in the current economic outlook?

That depends on the borrower, not just the market. The current backdrop is mixed. Bank Rate is 3.75%. Inflation has risen to 3.3%. The Bank of England said in February that underlying UK GDP growth remained subdued. In other words, this is not a clear-cut market where rates are obviously about to tumble. It is a market where things could improve, but there is still enough inflation pressure and uncertainty to keep borrowers cautious.

For cautious borrowers, a full fixed rate may still feel more comfortable because it removes uncertainty. For confident borrowers with room in their budget, a part fixed and part tracker mortgage can be a sensible compromise. It gives some protection now and some exposure to future rate cuts.

A part fixed, part tracker mortgage can work well if you want a blend of security and flexibility.

The upside is that you do not have to go all in on one view of the market. The downside is that you may pay extra fees and take on more moving parts. In the current climate, where inflation is still above target and rate cuts are not guaranteed on any set timetable, it can be a sensible middle ground for the right borrower. If you don't want to take the risk or cannot afford an increase in monthly costs, it makes sense to simply opt for a fixed rate. 

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage