Residential Mortgage Rates (UK)
Current market ranges, deposit expectations, and common fee patterns for residential mortgages in one place.
Indicative figures only - lender pricing changes frequently and depends on case complexity.
Rate Overview
Typical market range for residential mortgage pricing.
Typical rate range
4.0% - 5.5%
3.5% - 6.5%
Typical deposit
10% - 15%
Min 5%
Typical timeline
4-8 weeks
Application to completion
Rates are indicative, not a quote. Final pricing depends on lender criteria, LTV, rental profile, and borrower background.
What Moves Your Rate Up or Down
These are the strongest factors lenders weigh when setting pricing.
- Competitive interest rates
- Flexible repayment terms
- Various deposit options
- Government scheme eligibility
- Professional mortgage support
Fee Breakdown
Common charges to plan for alongside the headline rate.
Arrangement Fee
Lender product fee
£0 - £1,999
often added to loan
Valuation Fee
Property survey
£0 - £1,500
sometimes free with lender
Legal Fees
Conveyancing costs
£800 - £1,500
plus disbursements
Broker Fee
Advice and arrangement
£0 - £500
some brokers are fee-free
Rate FAQs
Quick answers to common pricing questions.
What deposit do I need for a residential mortgage?+
You typically need a minimum 5% deposit for a residential mortgage, though 10-15% is more common and will secure better rates. The exact amount depends on your circumstances and the lender's criteria.
What are the different types of residential mortgages?+
Residential mortgages include fixed-rate, variable-rate, tracker, and offset mortgages. Each has different features and benefits, so it's important to choose the right type for your circumstances.
Can I get a residential mortgage with adverse credit?+
Some lenders may consider residential mortgage applications for borrowers with minor credit issues, though the criteria may be stricter. You'll typically need a larger deposit and may face higher rates.
What is the difference between fixed and variable rate mortgages?+
Fixed-rate mortgages have a set interest rate for a specific period, providing payment stability. Variable-rate mortgages can change with market conditions, potentially offering lower rates but with payment uncertainty.
Can I get a residential mortgage for a property that needs renovation?+
Some lenders may consider properties that need renovation, though you may need a larger deposit and the renovation costs may need to be factored into the loan amount. Specialist renovation mortgages may be more suitable.
What is the maximum term for residential mortgages?+
Residential mortgages can have terms of up to 35 years, though the exact term depends on your age and the lender's criteria. Longer terms mean lower monthly payments but higher total interest costs.