London-based mortgage brokers with a track record of providing expert mortgage advice

Two-year vs five-year fixed mortgages: What if the rates are the same?

Major UK lenders have lowered hundreds of mortgage rates over the past fortnight, giving homebuyers and borrowers approaching the end of a deal before Christmas more options. Some lenders are now pricing their two- and five-year fixes at the same initial rate, particularly for borrowers with larger deposits or more equity in their homes. If both deals start at the same rate, how long should you fix for? 

Why are fixed mortgage rates falling after the base rate rise?

The Bank of England raised its base rate to 4% on 5 November. Fixed mortgage pricing also reflects wholesale funding costs and competition between lenders. Two- and five-year funding rates have been close together, giving lenders room to price some shorter and longer fixes at the same rate. 

Which lenders are pricing two- and five-year fixes the same?

Halifax has priced selected two- and five-year Loyalty Premier fixes at 4.78% for eligible Lloyds Premier current account holders. For a purchase or remortgage, Halifax also requires at least one applicant to have an income of £100,000 or more.  The bank also has non-current account customer home mover two- and five-year fixes priced the same at just under 5%. 

Representative mortgage example: A Halifax capital and interest repayment mortgage of £1,000,000 payable over 30 years, initially on a fixed rate basis at 4.78% until 31 December 2028, followed by the lender's current standard variable rate of 7.24% for the remaining term. The 4.78% rate would require 25 monthly repayments of £5,235.28, followed by 335 monthly repayments of £6,734.82. The total amount repayable would be £2,387,146.70, based on the lender's illustration plus interest (£1,391,429.33). The mortgage has a £999 product fee, added to the loan, and a £100 valuation fee. The overall cost for comparison is 7.0% APRC representative.

Source: Trinity Financial. These examples are a snapshot of selected deals. Rates and availability can change, and the products you qualify for depend on factors including your deposit or equity, loan size and application type. 

Should you choose a two-year or five-year fix?

A two-year fix lets you review your mortgage sooner. That can suit borrowers who expect their plans to change or want the option to switch deals sooner. You’ll need to consider the rates and fees available when the deal ends.

Aaron Strutt, product director at Trinity Financial, says: "Many of our clients are still taking two-year trackers and two-year fixes even though some of the lenders have two-year and five-year fixes priced the same. It is actually quite unusual for rates to be the same for shorter- or longer-term options. Even though the Bank of England base rate is set to rise next year, mortgage rates have been getting cheaper in recent weeks." 

A five-year fix gives you three extra years of certainty over your mortgage payments. If you expect to move or make a substantial overpayment during that period, check the early repayment charges, the lender’s overpayment allowance and whether you could take the mortgage with you when you move.

Is a tracker still worth considering?

Some trackers still start well below comparable fixed deals, but more base rate rises are predicted next year. A tracker with no early repayment charge can appeal if you expect to sell or use a bonus to pay down a substantial part of your mortgage. Trackers linked to the Bank of England base rate can become more expensive if it rises again. Ask your broker to show the difference in pounds per month and what a further quarter-point rise would do to your payments.

Speak to Trinity Financial about your next mortgage

If you’re buying a home or your fixed deal is ending soon, we can compare your existing lender’s rate-switch options with deals from other lenders where applicable. We’ll show you how the payments, fees and early repayment charges compare so you can choose a deal that fits your plans.

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 0808 1642174 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

11 November 2026 | More sub-5% fixes become available

NatWest, Santander and Barclays are the latest lenders to improve their fixed mortgage rates this week, less than a week after the Bank of England raised Bank Rate from 3.75% to 4%. From 12 November, NatWest will offer two- and five-year purchase fixes below 4.9% for buyers with a 40% deposit.

Santander has improved selected fixed rates for new and existing borrowers by up to 0.16%, with two-, three- and five-year options below 5% for eligible customers switching deals. Barclays has lowered selected rates by up to 0.40 percentage points from 11 November. 

Latest mortgage rate changes at a glance

Source: Trinity Financial. LTV stands for loan-to-value. A 60% LTV purchase mortgage requires a 40% deposit. If you’re remortgaging, 60% LTV typically means you have at least 40% equity in your home. Rates are subject to availability and lender criteria.

NatWest improves two- and five-year purchase fixes to below 4.90%

From Thursday 12 November, NatWest is reducing selected rates across its new business, existing customer and additional borrowing ranges. Its two-year purchase fix at 60% LTV drops by 0.17 percentage points, while the equivalent five-year fix drops by 0.08 percentage points. Both will be priced below 4.90% with a £1,495 product fee. For buyers offered both terms, the choice comes down to how long they want payment certainty and whether they’re likely to move or repay early. 

Santander lowers fixed rates for new and existing customers

Santander is reducing selected fixed rates in its new business and product transfer ranges from Thursday 12 November. For existing residential borrowers switching deals at up to 60% LTV, the two-year fix falls to 4.90%, the three-year and five-year fixes to around 4.95%, each with a £999 fee. For home movers with a 10% deposit, one two-year fix falls to below 5.2% with a £1,499 fee. 

Barclays cuts selected mortgage rates by up to 0.40 percentage points

Barclays’ largest cut takes its five-year remortgage fix at 85% LTV from around 5.75% to below 5.35% with a £999 fee. Buyers with a 25% deposit can access a five-year fix at just below 5% with an £899 fee. Barclays also reduced selected rates for existing customers, including a two-year fix at around 4.95% up to 60% LTV with a £999 fee.

Coventry confirms variable-rate rises from 1 December

Coventry Building Society cut residential fixed rates by up to 0.15 percentage points on 28 October. Following November’s Bank Rate decision, Coventry says its Base Rate Tracker, Flexx for Term, Standard Variable Rate and Privilege Rate will rise by 0.25 percentage points from 1 December. If your Coventry fix is ending soon, compare the rate the society can offer you directly with the cost of remortgaging to another lender.

Halifax offers 4.78% fixes through Lloyds Premier

Halifax’s Lloyds Premier range includes two- and five-year fixes at 4.78% up to 60% LTV, each with a £999 fee. Borrowers need a qualifying Lloyds Premier current account. For purchases and remortgages into Lloyds Banking Group, at least one applicant must earn £100,000 or more a year. 

Representative mortgage example: A Halifax capital and interest repayment mortgage of £1,000,000 payable over 30 years, initially on a fixed rate basis at 4.78% until 31 December 2028, followed by the lender's current standard variable rate of 7.24% for the remaining term. The 4.78% rate would require 25 monthly repayments of £5,235.28, followed by 335 monthly repayments of £6,734.82. The total amount repayable would be £2,387,146.70, based on the lender's illustration plus interest (£1,391,429.33). The mortgage has a £999 product fee, added to the loan, and a £100 valuation fee. The overall cost for comparison is 7.0% APRC representative.

Why are fixed mortgage rates falling after the base rate rise?

Lenders use wholesale swap rates as one benchmark when pricing fixed mortgages and five-year two-year funding has undercut five-year funding for the first time in a while. That helps explain why some lenders have been able to cut fixed rates even as Bank Rate rose. The outlook for energy prices and inflation remains important. Lower oil prices or signs of easing tensions in the Middle East could ease pressure on funding costs. 

Buying a home or coming to the end of your fixed rate?

If you’re remortgaging, Trinity Financial can compare a rate switch with your existing lender against deals from other banks and building societies. We’ll factor in product fees and any early repayment charges so you can see what each option would cost over the deal period. If you already have an offer, we can check whether there’s a cheaper rate available before you complete.

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 0808 1642174 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

Coventry interest-only mortgage brokers in London.

Coventry for Intermediaries has eased its interest-only mortgage acceptance criteria, lowering the deposit requirement from 50% to 25% of the property value.

Coventry has no minimum income requirement for its interest-only mortgages, but applicants must have sufficient income to support an equivalent repayment mortgage and meet repayment affordability checks. The maximum mortgage term is 40 years, and Coventry does not accept new Interest-only applications on a part/part basis. Part/part interest-only is a good option for many borrowers seeking mostly interest-only mortgages.

For all new Interest-only applications, there must be a minimum of £200,000 equity for properties in all regions outside London and the South East, and £300,000 equity for properties in the Office for National Statistics administrative regions of London and the South East, remaining at completion of the mortgage regardless of the applicant's chosen repayment plan.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’re continuing to look for ways to give brokers more options when supporting their clients’ homeownership and property goals. By broadening our interest-only criteria, we’re making this option available to a wider range of suitable borrowers.

"These latest changes build on a number of enhancements we’ve made in recent months, all designed to help brokers find the right solutions for their clients.”

Which other mortgage lenders have good interest-only policies?

Coventry Building Society is not the only mortgage lender offering more flexible interest-only borrowing. Several major UK banks and building societies allow eligible borrowers to take out interest-only mortgages with a 25% deposit, while some offer higher loan-to-value limits or flexible options for borrowers with investments, pensions and other properties.

Interest-only mortgages can be particularly attractive to higher earners, homeowners with substantial equity, borrowers arranging £1 million-plus mortgages and clients who want to keep their monthly mortgage payments lower.

Decent interest-only mortgage lenders compared

Source: Trinity Financial and review of lender websites.

Aaron Strutt, Product Director at Trinity Financial, comments:  “There are more competitive interest-only mortgage options available than many borrowers realise, particularly for those with larger deposits, substantial property equity or investments.

“The key is understanding which lenders accept different repayment strategies. Some will consider the sale of the mortgaged property, while others want evidence of savings, investments or other assets. Comparing these policies can make a substantial difference to the mortgage options available.”

Interest-only mortgages still need to be paid by the end of the mortgage term. Mortgage lenders typically write to their customers each year to make sure their interest-only repayment vehicle is on track and ensure there is enough money to repay the outstanding balance. 

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 0808 1642174 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 Bank of England raised its base rate from 3.75% to 4% on 5 November 2026, the first increase in more than three years. If you have a mortgage that tracks Bank Rate, your repayments are set to rise.

If you’re on a fixed rate, your monthly payment stays the same until your deal ends. If that date is approaching, now is a good time to compare what your lender will offer with deals elsewhere. 

Why did the Bank of England raise interest rates?

UK inflation reached 3.5% in September, above the Bank’s 2% target. The conflict in the Middle East has disrupted energy supplies and pushed up fuel and utility costs. The Bank raised rates to reduce the risk that higher energy costs feed through to other prices and keep inflation higher for longer. 

Governor Andrew Bailey indicated that a further rise was likely if the Iran conflict continued, while cautioning against assuming a long run of increases. The next Bank Rate decision is due on 17 December 2026. 

He said: "There is now enough inflationary pressure in the pipeline caused by the rise in energy prices that an increase in Bank Rate is warranted. Today’s increase shouldn’t be seen as the first in an inevitable long sequence of hikes. But, unless the conflict in the Middle East is resolved, neither does it seem likely to be the last increase. The MPC will judge the outlook at each meeting, responding as necessary to bring inflation sustainably back to our 2% target."

Will my mortgage payments go up?

 Source: Trinity Financial

What does the rise cost in pounds? On a £250,000 repayment tracker with 25 years remaining, a rise from 4.25% to 4.50% would take the illustrative monthly payment from about £1,354 to £1,390, an increase of around £35 a month based on the unrounded figures. The example excludes fees. Your lender will confirm your actual payment.

Three things to do after the base rate rise

1. Check your mortgage rate and deal end date. If you’re on a tracker, look for your lender’s new repayment figure and update your budget. If you’re on a fix, check when it ends and the rate you’ll move onto if you take no action.
2. Compare your lender’s offer with a remortgage. A switch with your existing lender is known as a product transfer. Trinity Financial's brokers can help you compare deals from other lenders over the same period, taking into account product fees, any cashback and early repayment charges. A lower headline rate can cost more once you include fees.
3. Review your options before your deal ends. If your fix ends within the next six months, it may be possible to secure a mortgage with a new lender. Many banks and building societies allow product transfers up to four months before the fixed or tracker rate finishes. 

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 0808 1642174 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

UK's biggest lender making it easier for medical professionals to get a mortgage

From Monday 9 November 2026, Halifax will change how it assesses mortgage income for eligible junior or resident doctors, locum doctors and associate dentists on fixed-term or short-term contracts. It will calculate eligible income over 52 weeks, up from 46, and apply the same income assessment approach it uses for permanent employees. Some applicants could qualify for a larger mortgage, and those approaching the end of a contract may find the application process simpler.

What is changing for medical professionals on fixed-term contracts?

Source: Halifax Intermediaries broker announcement supplied to Trinity Financial. 

How could the change affect mortgage affordability?

Take a locum doctor with £1,500 a week in eligible income. Under the 46-week calculation, Halifax would assess £69,000 a year. Under the 52-week calculation, it would assess £78,000. That is £9,000 more income in the affordability assessment, an increase of around 13%.

The example shows the change in assessed income. How much Halifax will lend still depends on its full affordability assessment, including outgoings, existing debts and the details of the mortgage.

Why contract length matters for doctors and dentists

Fixed-term work is a normal part of many medical careers. A resident doctor might be due to move to a new hospital for their next rotation just as they start looking for a home. A locum doctor may work across a series of short assignments. For eligible borrowers, removing the contractor-specific rules on employment history and time left on a contract takes one source of uncertainty out of the mortgage application.

The change could also make it easier to plan a purchase. If the timing of a contract renewal was holding up an application, a broker can check whether Halifax’s revised criteria allow it to proceed and compare the amount available with other lenders.

Why has the bank made these changes?

These changes follow feedback from mortgage brokers, should simplify income assessment, and may increase borrowing capacity for some eligible customers. This builds on its commitment to provide value to brokers, like Trinity Financial, and borrowers as the bank progresses toward the launch of Lloyds Intermediaries in 2027.

How much can doctors and dentists borrow?

For resident doctors, locum doctors and associate dentists, around 5 times the income a lender accepts is a sensible starting point. Eligible first-time buyers and applicants using professional mortgage ranges may access 5.5 to 6 times income. Up to 6.5 times is available through some higher-income routes, subject to tighter eligibility and affordability checks. 

Source: Trinity Financial. The amount doctors and dentists may be able to borrow

The income a lender accepts can matter more than the multiple

For a resident doctor, Nationwide’s treatment of NHS training posts can make it a useful lender to compare when a rotation is coming up. For a locum doctor, the lender’s approach to agency earnings, bank shifts and contract history can materially affect the income it uses. For an associate dentist, the starting point is how the lender assesses the earnings available under the associate agreement or through self-employment.

That’s where Halifax’s move from 46 to 52 weeks is positive. Using the example from the article, £1,500 a week in eligible income gives £78,000 of assessed annual income under the new calculation, up from £69,000. At the same illustrative 5.5× multiple, that would increase the theoretical cap from £379,500 to £429,000. The actual offer will depend on the applicant’s eligibility, deposit, outgoings and Halifax’s affordability assessment.

Which other mortgage lenders are keen to issue medical professional mortgages? 

Nationwide, HSBC, NatWest and Santander are all worth comparing with Halifax, depending on how you are paid and how long you have been in your role. Nationwide has a specific policy for junior and trainee NHS staff. HSBC explicitly considers locum and NHS bank income, while NatWest and Santander have routes for applicants who can demonstrate a track record of contract work. 

Source: Trinity Financial and lender websites.

Which mortgage lender might suit your contract?

If you are a resident doctor due to rotate to another hospital, Nationwide is a natural comparison with Halifax. Its policy recognises NHS training roles, which can be helpful if your current placement is nearing its end. HSBC may suit a locum doctor with a steady history through one employer. For PAYE applicants who have worked through several shorter contracts, NatWest’s criteria explicitly allow multiple contracts to demonstrate a year’s work.

For associate dentists, how you are paid can shape the shortlist. An employed dentist on PAYE and a self-employed associate may need different evidence. Alongside Halifax, Kensington offers a specialist option, with a Professionals mortgage for eligible, fully qualified practising doctors and dentists up to six times income, subject to affordability and product criteria.

If your earnings include regular locum shifts or NHS bank work, the evidence you can provide may affect the result. Trinity Financial can compare how lenders would assess your income, what documents they would need and the mortgage deals available for your circumstances.

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 0808 1642174 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

Lloyds Premier mortgage broker in London.

Homebuyers and remortgage customers earning £100,000 or more could access some of Halifax's most competitively priced mortgage deals by opening a Lloyds Premier current account.

Halifax's Lloyds Premier mortgage range offers preferential rates to eligible higher earners, including a 4.78% two-year fixed rate with a £999 arrangement fee.

The deal could be particularly attractive to borrowers looking for £500,000, £750,000 or £1 million-plus mortgages, where even small interest-rate differences can make a substantial difference to monthly repayments.

What are the latest Lloyds Premier mortgage rates?

Lloyds Premier customers can access discounted mortgage rates through Halifax and Lloyds Banking Group, with products available for first-time buyers, home movers and remortgage customers. 

The Lloyds Premier mortgage range includes fixed-rate options across different mortgage terms, deposit sizes and borrowing requirements. Rates are normally 0.2% cheaper for Lloyds Premier customers taking Halifax rates.

Halifax has just lowered its home mover and first-time buyer fixed rates by up to 0.09% and its two-year tracker rates by up to 0.12%.

Borrowers should compare the available two-year and longer-term fixes, product fees, overall borrowing costs and early repayment charges before selecting a mortgage.

Representative mortgage example

A Halifax capital and interest repayment mortgage of £1,000,000 payable over 30 years, initially on a fixed rate basis at 4.78% until 31 December 2028, followed by the lender's current standard variable rate of 7.24% for the remaining term. The 4.78% rate would require 25 monthly repayments of £5,235.28, followed by 335 monthly repayments of £6,734.82. The total amount repayable would be £2,387,146.70, based on the lender's illustration plus interest (£1,391,429.33). The mortgage has a £999 product fee, added to the loan, and a £100 valuation fee. The overall cost for comparison is 7.0% APRC representative.

Who qualifies for a Lloyds Premier mortgage?

For home purchases and remortgages to Lloyds Banking Group, at least one applicant must earn £100,000 or more a year to access the discounted Lloyds Premier mortgage rates.

Applicants must also hold a qualifying Lloyds Premier current account. They can open an account before applying for their mortgage, subject to the bank's eligibility rules.

To qualify for the current account, customers must meet one of the following requirements:

• Pay at least £5,000 into the account each month.

• Hold £100,000 or more in qualifying savings or investments with Lloyds.

An important distinction is that borrowers do not necessarily need £100,000 in savings to access a Lloyds Premier mortgage. The mortgage income requirement and current account eligibility criteria are separate.

Can you get a Lloyds Premier mortgage through a mortgage broker?

Yes. Lloyds Premier mortgage rates are available through intermediaries including Trinity Financial, using Halifax's mortgage lending platform.

This means eligible borrowers can ask their broker to compare discounted Lloyds Premier rates against standard Halifax mortgages and deals available from other major banks and building societies. 

Trinity's brokers need the Lloyds Premier current account number to secure you the cheaper rates. You can open an account by clicking here.

Some lenders may offer cheaper headline rates, while others could provide larger mortgage loans, greater borrowing flexibility or more suitable affordability calculations for applicants receiving bonuses, commission, dividends or other forms of income.

For borrowers seeking a £1 million-plus mortgage, it can be particularly worthwhile comparing Lloyds Premier rates against Barclays Premier, HSBC, NatWest and private banking alternatives.

Are Lloyds Premier mortgages good for higher earners?

Aaron Strutt, Product Director at Trinity Financial, says: "Halifax has been keen to attract higher-earning borrowers through its Lloyds Premier mortgage range, and some of the discounted rates are very competitive.

"Many people earning £100,000 or more may not realise they can access these preferential deals simply by meeting the current account requirements. These mortgages could be especially appealing to borrowers taking out larger loans because a relatively small rate reduction can make a significant difference to their monthly repayments.

"It is still worth comparing Lloyds Premier with other lenders, particularly if you need a large mortgage, receive substantial bonus income or want flexibility with your repayments."

How Trinity Financial can help arrange a Lloyds Premier mortgage

Trinity Financial's mortgage brokers can compare Lloyds Premier mortgage rates with products from Halifax, Barclays, HSBC, Nationwide, Santander, NatWest and specialist or private banks.

We regularly help higher earners, company directors, city professionals, bonus earners and borrowers seeking mortgages of £500,000, £1 million and above.

If you earn £100,000 or more and are buying a property or remortgaging, speak to Trinity Financial about whether you qualify for a discounted Lloyds Premier mortgage rate and whether another lender could offer a better overall deal.

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 0808 1642174 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.

Any links to third-party websites are provided for information and convenience purposes only. We are not responsible for the content or availability of external sites

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