Even with the fixed rate rises mortgages still start from 4%

by Aaron Strutt

Mar 18 2026

Mortgage lenders have continued to raise their fixed rates over the last week, with Twenty7tec data reporting nearly 10,000 mortgage product changes in just a few days.

The banks and building societies have announced large price hikes following continued increases in funding costs driven by the war in the Middle East.

The number of sub-4% mortgage deals has significantly reduced, with all the biggest banks, namely Barclays, HSBC, Halifax, NatWest and Santander, having increased rates multiple times since the start of March. 

Are there many cheap mortgage rates left?

Yes. While there have been many rate increases, some competitively priced mortgages are still available. HSBC has a two-year fix at just over 4%, and Santander has a two-year fix at just under 4.2%. The best five-year fixes are priced just over 4.2%.

With the Bank of England base rate set to stay on hold in March and so many lenders pushing up the prices of their fixed-rate mortgages, it may be a good time for some borrowers to take out a tracker-rate mortgage.  The most competitively priced two-year Bank of England base rate trackers start from 0.19% over the current 3.75% base rate. 

Aaron Strutt, product director at Trinity Financial, says: "Rates are not that expensive, but the war needs to stop soon, otherwise rates could keep going up. The mortgage acceptance criteria is still the same, so there are still income strict mortgages available, and the lenders are still keen to attract borrowers, even if they have been getting much more business than usual, with brokers rushing to secure their clients the best deals. 

"We are still urging our clients to act with more urgency so we can get them decent rates while they are available. More borrowers will be tempted to take trackers as they wait and see what happens to fixes when the situation in the Middle East calms down."

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 7016 0790 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.

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