UK Mortgage Rates Today: Avg 2-Year Fix 5.96% and Swaps Down on BoE Decision Day | 5 Nov 2026

Описание: Daily Mortgage Market — Thursday 5 November 2026. The day's mortgage market facts in a few minutes, for brokers and homebuyers. Recorded before today's 12:00 Bank of England announcement.

In this episode:
00:00 Intro
00:21 Direction of travel: fixed rates since 23 Oct and 2 Oct
01:00 Bank Rate 3.75% and today's decision at noon
01:38 Moneyfacts average fixed rates
02:09 Lender moves, 4–5 Nov
03:05 SONIA swap rates
03:27 Mortgage approvals: September
03:54 House prices: Nationwide and Lloyds
04:24 Coming up
04:45 Numbers at a glance
04:53 Outro

Numbers at a glance:
Bank Rate — 3.75% (decision due 12:00 today, Thu 5 Nov) — Bank of England, accessed 5 Nov 2026
CPI inflation — 3.5% (target 2%) — Bank of England, accessed 5 Nov 2026
Average 2-year fix — 5.96% (-1bp, from 5.97%) — Moneyfacts, updated 4 Nov 2026
Average 5-year fix — 5.99% (unchanged) — Moneyfacts, updated 4 Nov 2026
Change since 23 Oct — 2-year fix -1bp (from 5.97%), 5-year fix -1bp (from 6.00%); since 2 Oct — 2-year fix 0bp (5.96%), 5-year fix +3bp (from 5.96%) — Moneyfacts (4 Nov 2026; earlier figures via Moneyfacts rate watches in Mortgage Strategy)
Fixed-rate moves logged since 23 Oct — 11 cuts, 6 rises, 4 mixed; since 2 Oct — 32 cuts, 20 rises, 9 mixed (moves named in Moneyfacts weekly rate watches via Mortgage Strategy, trade press reports and lender announcements; not every change in the market)
Moneyfacts Average New Mortgage Rate — 5.89% at the start of November, a three-year high — Moneyfacts, 4 Nov 2026
Lowest 2-year remortgage fix — 4.99% (HSBC, Nationwide); lowest 5-year remortgage fix — 5.05% (Lloyds Bank, Virgin Money) — Moneyfacts, 4 Nov 2026
2-year SONIA swap — 4.53% (-6bp, from 4.59% on 3 Nov) — BlueGamma, close 4 Nov 2026
5-year SONIA swap — 4.61% (-8bp, from 4.69% on 3 Nov) — BlueGamma, close 4 Nov 2026
Mortgage approvals for house purchase — 53,400 (September; from 54,800 in August) — Bank of England Money and Credit, 29 Oct 2026
Remortgage approvals (different lender only) — 42,600 (September; from 34,000 in August) — Bank of England Money and Credit, 29 Oct 2026
Nationwide average price — £273,566, 0.0% m/m, +0.5% y/y (October; slowest annual growth since January 2024) — Nationwide, 30 Oct 2026
Lloyds HPI (formerly Halifax) average price — £298,441, 0.0% m/m, 0.0% y/y (September; October due 7am Fri 6 Nov) — Lloyds, 7 Oct 2026

The Bank of England announces its Bank Rate decision at 12:00 today, Thursday 5 November (Bank of England, accessed 5 Nov 2026). A Reuters poll reported by Mortgage Strategy found 54 of 63 economists expect a 25bp increase to 4% (Mortgage Strategy, 3 Nov 2026). UK Finance estimates a 25bp rise would add £30.72 a month to the average tracker mortgage payment (UK Finance via Mortgage Strategy, 4 Nov 2026). The Bank's next Money and Credit release, for October, is on Monday 30 November (Bank of England, accessed 5 Nov 2026).
Lender moves: Santander, effective 5 Nov — cuts of up to 0.25%, largest on product transfer trackers (tracker margins down; e.g. 2-year PT tracker at 85% LTV, £999 fee, 4.81% to 4.56%); some fixes up by up to 0.13% (e.g. 1-year PT fix at 80% LTV, £499 fee, 5.11% to 5.24%); new trackers; some PT fixes withdrawn; no buy-to-let changes (Mortgage Strategy, 4 Nov 2026; Santander for Intermediaries, 3 Nov 2026). Cambridge Building Society, from 4 Nov — refreshed 2-year fixed range, including 95% LTV at 5.99% and 98% LTV First Step at 6.29% (Mortgage Strategy; Mortgage Solutions, 4 Nov 2026). Nationwide's fixed-rate cuts of up to 0.15% and Virgin Money's of up to 0.17% took effect on 4 Nov (Nationwide, 3 Nov 2026; Virgin Money for Intermediaries, 4 Nov 2026).

Sources:
Bank of England — Bank Rate page (accessed 5 Nov 2026); Money and Credit, September 2026 (published 29 Oct 2026)
Moneyfacts — moneyfactscompare.co.uk average fixed rates (updated 4 Nov 2026); weekly mortgage roundup (4 Nov 2026); weekly rate watches via Mortgage Strategy (9, 16, 23 and 30 Oct 2026)
Mortgage Strategy (3 and 4 Nov 2026); Mortgage Solutions (4 Nov 2026); Santander for Intermediaries (3 Nov 2026); Virgin Money for Intermediaries (4 Nov 2026); Nationwide (3 Nov 2026); UK Finance via Mortgage Strategy (4 Nov 2026); BBC (4 Nov 2026)
BlueGamma — 2-year and 5-year SONIA swap rates (close 4 Nov 2026)
Nationwide House Price Index, October 2026 (30 Oct 2026); Lloyds House Price Index, September 2026 (7 Oct 2026) and release calendar

This is information only, not financial advice. Rates are market averages; individual rates vary. Speak to a qualified, regulated adviser about your circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.