TL;DR
- •Mortgage Strategy has announced the hosts for the Mortgage Strategy Awards 2026, a key event in the mortgage and protection calendar.
- •The event could provide valuable insights into the direction of the mortgage market..
- •The event, hosted by mortgage expert Sally Mitchell and James Prosser, commercial director at Mortgage Strategy, is a key event in the mortgage and protection calendar.
As of 6 May 2026, Mortgage Strategy has announced the hosts for the Mortgage Strategy Awards 2026, set to take place on 13 May at Royal Lancaster, London. The event, hosted by mortgage expert Sally Mitchell and James Prosser, commercial director at Mortgage Strategy, is a key event in the mortgage and protection calendar. With the UK base rate currently at 3.75%, this event could provide valuable insights into the direction of the mortgage market.
Impact on First-Time Buyers, Remortgagers, and Landlords
First-Time Buyers
For a first-time buyer, securing a mortgage can be a daunting task. With the base rate at 3.75%, a £250,000 repayment mortgage at 90% LTV would result in monthly payments of approximately £1,318. This calculation is based on a 25-year term and a 3.75% interest rate. This means that over the course of a year, a first-time buyer would be making payments totalling £15,816.
Remortgagers
For those looking to remortgage, the current base rate could provide an opportunity for savings. For example, on a £200,000 repayment mortgage at 75% LTV, the monthly payments would decrease from £1,432 to £1,389 — a saving of £43 per month or £516 per year. This calculation assumes a 20-year term and a 3.75% interest rate.
Landlords
Landlords with an interest-only buy-to-let mortgage may also see changes in their monthly payments. For instance, a landlord with a £200,000 interest-only mortgage would see their monthly payments decrease from £625 to £583, assuming an interest rate drop from 3.75% to 3.5%. This equates to a yearly saving of £504.
Market Context
Comparison to Previous Rates
Compared to a year ago, the base rate has increased by 0.5%, from 3.25% to 3.75%. This increase has resulted in higher monthly payments for those with variable rate mortgages. For example, a £200,000 mortgage at 75% LTV would have seen monthly payments increase by approximately £50 compared to last year.
Direction of Travel
The current base rate of 3.75% indicates a gradual upward trend in the cost of borrowing. This trend could affect the affordability of mortgages, particularly for first-time buyers and those with high loan-to-value ratios. For instance, a 1% increase in the base rate would add £167 to the monthly payments of a £200,000 mortgage at 75% LTV.
Frequently Asked Questions
How does the base rate affect my mortgage payments?
The base rate affects the interest rate on variable rate mortgages. If the base rate increases, your monthly payments will likely increase as well. For example, a 0.25% increase in the base rate could add approximately £25 to the monthly payments on a £200,000 mortgage.
What is the current base rate?
As of April 2026, the Bank of England base rate is 3.75%.
What is a remortgage?
A remortgage is when you switch your current mortgage to a new deal, either with your existing lender or a different one. This could potentially save you money if the new mortgage has a lower interest rate than your current one.
What is loan-to-value?
Loan-to-value (LTV) is the ratio between the amount of your mortgage and the value of your property. For example, if you have a £180,000 mortgage on a £200,000 property, your LTV is 90%.
About David Sampson
David Sampson writes about the UK mortgage market for Mortgage118, covering specialist lending, market trends, and practical advice for borrowers. All content is reviewed for accuracy against FCA guidelines and current market data.