Last Update – 30-10-2026
With interest rates shifting frequently in the UK, a 5-year fixed mortgage gives you financial predictability over the medium term.
This type of mortgage keeps your interest rate locked for five years, meaning your monthly repayments won’t change during that period. It offers peace of mind to those looking to budget confidently, especially in today’s uncertain housing market.
In this guide, you’ll find a clear explanation of 5-year fixed rate mortgages and a comparison of the top 15 UK lenders offering them.
What Is a 5-Year Fixed Rate Mortgage and How Does It Work?
A 5-year fixed rate mortgage is a home loan where the interest rate remains the same for the first five years of the loan term.
This means your monthly repayments will stay consistent, regardless of changes to the Bank of England base rate or the wider market.
It’s particularly popular among borrowers who value predictable payments and want to avoid financial surprises.
During the fixed term, you’re shielded from rising interest rates, but you also won’t benefit if rates fall.
Most 5-year fixed deals include an early repayment charge (ERC) if you switch or repay your mortgage before the fixed term ends.
After the five years, the mortgage typically reverts to the lender’s standard variable rate unless you remortgage or negotiate a new deal.
According to industry experts, many borrowers consider the 5-year fix the “sweet spot” between short-term flexibility and long-term commitment.
Why Choose a 5-Year Fixed Mortgage Over Other Terms?
Choosing a 5-year fixed mortgage provides a solid middle ground between short-term flexibility and long-term predictability.
Unlike 2-year deals, which may require more frequent remortgaging, a 5-year term reduces the administrative burden and protects against short-term market volatility.
It’s also less of a commitment than a 10-year deal, offering more adaptability if your circumstances change.
Key benefits include:
- Predictable monthly payments for budgeting
- Protection from interest rate increases
- Reduced need for frequent remortgaging
- Suitable for stable employment or long-term home ownership
Compared to variable rate or tracker mortgages, fixed-rate products help you avoid surprise rate hikes, which is especially valuable in high-inflation environments.
However, they may not be ideal if you’re planning to move or repay your mortgage early, due to potential early repayment charges.
Understanding your financial goals and lifestyle plans is essential before choosing this mortgage term.
What Factors Affect the Best 5-Year Fixed Mortgage Rates?
Several key elements influence the rates offered on 5-year fixed mortgage products in the UK. Understanding these can help you position yourself for the best possible deal.
One of the primary factors is your Loan-to-Value (LTV) ratio, which compares the amount you borrow to the value of your property. A lower LTV generally results in better rates.
Other critical influences include your credit score, income stability, and the current Bank of England base rate, which affects how lenders set their mortgage rates.
Lenders also consider employment status, existing debts, and the type of property being purchased or remortgaged.
Here’s a quick overview:
| Factor | Impact on Rate |
|---|---|
| Loan-to-Value (LTV) | Lower LTV = Lower interest rate |
| Credit Score | Higher score = Better mortgage offers |
| Income & Employment Status | Stable income = Lower lending risk |
| Bank of England Base Rate | Higher base rate = Generally higher mortgage rates |
| Property Type | New builds or flats may affect mortgage rates |
Rates may also be affected by inflation forecasts and global economic trends. For instance, even if the base rate holds steady, inflation pressure can lead lenders to raise rates proactively.
How to Find the Best 5-Year Fixed Mortgage Deals in the UK?
Navigating the UK mortgage market can be complex, but the right strategies can simplify the search for the best 5-year fixed rate deals.
Start by determining your financial position. Check your credit score, estimate your deposit, and use a mortgage calculator to assess affordability.
Then, compare deals online and consider contacting a mortgage broker for personalised advice.
Key steps to follow:
- Review your credit file and correct errors
- Use mortgage comparison tools to filter by LTV and term
- Check total cost including product fees
- Consider incentives like cashback or free valuations
- Seek advice from whole-of-market brokers for broader options
- Time your application around base rate announcements
Timing can be crucial. For example, mortgage rates often rise just before a Bank of England announcement, so acting early may secure better terms.
Top 15 Best 5-Year Fixed Mortgage Rates
In a competitive mortgage landscape, choosing the right lender for a 5-year fixed rate deal means weighing up more than just interest rates.
Factors such as flexibility, fees, incentives, and maximum loan-to-value (LTV) ratios all play a role.
Here’s a breakdown of the top 15 lenders in the UK offering standout 5-year fixed mortgage options, tailored to a range of borrower needs based on the latest available data.
1. Barclays
Barclays offers a broad selection of five-year fixed-rate mortgages for first-time buyers, homeowners moving to another property and borrowers looking to remortgage.
Its mortgage range includes products with different deposit requirements, arrangement fees and repayment conditions.
According to Barclays’ official lending information, residential mortgages can be available at up to 95% loan-to-value (LTV), meaning eligible buyers may purchase a property with a deposit of just 5%.
However, borrowers with larger deposits can often access more competitive interest rates.
One of Barclays’ distinguishing products is its Green Home Mortgage, designed for eligible buyers purchasing energy-efficient properties.
To qualify for selected discounted green mortgage products, the property generally needs an Energy Performance Certificate (EPC) rating of A or B, or an energy-efficiency score of at least 81.
The scheme is particularly relevant to eligible new-build purchases.
Barclays also provides mortgage calculators, affordability assessments and an Agreement in Principle facility to help applicants understand their borrowing capacity before committing to a property.
Another important consideration is mortgage overpayment flexibility. Many Barclays customers can overpay up to 10% of their outstanding balance annually without triggering an early repayment charge.
Eligible Premier fixed-rate borrowers may benefit from an enhanced allowance of up to 25%, depending on their mortgage conditions.
Barclays 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum residential LTV | Up to 95% |
| Minimum deposit | From 5%, subject to eligibility |
| Mortgage term | Up to 40 years, subject to lending criteria |
| Product fees | Vary; fee-free and fee-paying options |
| Standard overpayment allowance | Commonly up to 10% annually |
| Eligible Premier overpayment allowance | Up to 25% annually |
| Green mortgage | Selected discounted products for qualifying energy-efficient properties |
| Early repayment charges | May apply during the fixed period |
| Suitable for | First-time buyers, home movers and eligible green-home purchasers |
Barclays may be especially attractive to borrowers who want a five-year fixed mortgage alongside digital account management, a high-street banking relationship and the potential to benefit from energy-efficient housing incentives.
However, applicants should compare the complete five-year cost rather than concentrating exclusively on the initial interest rate. A product with a lower rate but a higher arrangement fee may not necessarily offer better value on smaller mortgage balances.
Official website: Barclays Mortgages
2. NatWest
NatWest provides a substantial range of five-year fixed-rate mortgage options, including products for first-time buyers, home movers, remortgagers and existing mortgage customers switching deals.
Its mortgage selection covers different LTV bands, including options for eligible buyers with a 5% deposit.
One advantage is the availability of products with and without upfront arrangement fees. This enables borrowers to compare a lower headline interest rate against the financial benefit of avoiding a large product fee.
For example, NatWest’s published mortgage-rate listings have included a 4.98% five-year fixed rate at 60% LTV with a £995 product fee. This is a product-specific advertised example rather than a guaranteed rate for all applicants.
NatWest also offers qualifying green mortgage products for properties with an EPC rating of A or B.
Its intermediary green mortgage range supports selected residential products up to 85% LTV, so borrowers should not assume that the same green incentives apply to every 95% mortgage.
An important difference from several competitors is NatWest’s overpayment policy.
The bank states that customers on many fixed-rate and tracker products can usually overpay up to 20% of their outstanding mortgage balance each year without paying an early repayment charge.
This can be particularly valuable for households expecting bonuses, salary increases or other additional income.
NatWest 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum LTV | Up to 95% on eligible products |
| Minimum deposit | From 5% |
| Published five-year rate example | 4.98% at 60% LTV, £995 fee; subject to change |
| Product fee options | Fee-free and fee-paying products |
| Overpayment allowance | Usually up to 20% annually on qualifying fixed-rate products |
| Green mortgage | Selected products for EPC A or B properties |
| Agreement in Principle | Online, without affecting credit score at the initial stage |
| Cashback and incentives | Depend on the specific mortgage product |
| Suitable for | First-time buyers, remortgagers and borrowers planning substantial overpayments |
NatWest is particularly worth considering for borrowers who want the certainty of a five-year fixed rate without sacrificing as much overpayment flexibility as is available on some competing products.
For homeowners planning to reduce their mortgage balance aggressively, a 20% allowance could make a meaningful difference over five years.
Nevertheless, borrowers should confirm the exact allowance in their mortgage offer, as different products and historic agreements can have different conditions.
Official website: NatWest Mortgage Rates
3. Nationwide
Nationwide Building Society offers five-year fixed mortgage products for first-time buyers, existing homeowners and people transferring their mortgages from another lender.
Its product range includes mortgages for borrowers with deposits as low as 5%, alongside options for customers with substantial equity who may qualify for lower interest rates.
A notable feature is Nationwide’s Helping Hand mortgage, which can allow qualifying first-time buyers to borrow up to six times their income.
Nationwide explains that Helping Hand may enable eligible customers to borrow up to 33% more than under its conventional affordability assessment.
Five-year fixed Helping Hand mortgages can be available at up to 95% LTV.
The product also advertises £500 cashback on qualifying completion, alongside an annual overpayment allowance of 10% of the loan amount.
Nationwide extended access to higher loan-to-income borrowing for eligible home movers and remortgage customers in January 2026, although eligibility and the availability of higher multiples depend on the applicant’s circumstances.
For standard products reserved on or after 29 May 2013, Nationwide generally calculates its 10% annual overpayment allowance using the original loan amount, rather than simply the current outstanding balance.
This distinction can be financially important as a mortgage balance decreases.
Nationwide 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum LTV | Up to 95% on qualifying products |
| Minimum deposit | From 5% |
| Helping Hand income multiple | Up to 6 times income for eligible applicants |
| Helping Hand cashback | £500 on qualifying completion |
| Product fees | Vary by deal; fee-free options may be available |
| Standard overpayment allowance | Usually 10% of original loan amount annually on relevant newer products |
| Mortgage portability | Available subject to product conditions and approval |
| Member benefits | Selected member-exclusive products or benefits |
| Suitable for | First-time buyers, existing members and eligible higher-income-multiple borrowers |
Nationwide can be a particularly useful lender for first-time buyers whose mortgage affordability is constrained more by their income multiple than by the size of their deposit.
However, borrowing a larger amount also increases total debt exposure and potentially total interest payable. Applicants should therefore assess whether higher borrowing remains affordable if household expenditure rises.
Existing members may also want to understand the eligibility requirements for Nationwide’s member reward programmes.
The Nationwide Fairer Share requirements explain how qualifying current accounts, savings and mortgage relationships affected the 2026 member payment.
These rewards are separate from mortgage pricing and should not be treated as guaranteed future benefits.
Official website: Nationwide Mortgages
4. Halifax
Halifax has historically been a major provider of five-year fixed-rate mortgages, serving first-time buyers, home movers and existing customers looking to switch their mortgage deals.
An important development in 2026 is the integration of Halifax’s mortgage offering with Lloyds.
Halifax’s official mortgage website now explains that new mortgage applicants are directed towards Lloyds, while existing Halifax mortgage customers can continue exploring Halifax mortgage deals.
This distinction matters when comparing Halifax with other lenders because mortgage availability depends on whether the applicant already holds a Halifax mortgage.
For existing customers, Halifax continues to provide mortgage-management facilities, including product transfers, additional borrowing, payment adjustments and overpayments.
The bank generally allows customers with qualifying fixed-rate mortgages to overpay up to 10% of the amount owed on 1 January each year without paying an early repayment charge.
Halifax also provides an online overpayment calculator and its HelloHome mortgage-management service, allowing customers to review their remaining overpayment allowance.
For new borrowers, the Lloyds mortgage range now provides the relevant starting point for comparing five-year fixed-rate products.
Halifax 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5-year deals for eligible existing customers |
| New mortgage applications | Generally directed to Lloyds |
| Existing mortgage customers | Halifax product-switching options remain available |
| Product fees | Depend on the selected mortgage deal |
| Overpayment allowance | Generally up to 10% annually where ERCs apply |
| Overpayment calculation | Based on balance at 1 January |
| Mortgage management | Online banking and HelloHome |
| Early repayment charges | Apply according to the mortgage agreement |
| Suitable for | Existing Halifax mortgage holders looking to retain or change their deal |
For current Halifax mortgage customers, switching internally may be more convenient than moving to another lender, particularly if it avoids legal work or a fresh affordability assessment.
However, convenience should not automatically outweigh cost. Existing customers should still compare their Halifax renewal offer with alternative remortgage products available elsewhere.
Official website: Halifax Mortgage Rates
5. HSBC
HSBC offers a wide selection of five-year fixed-rate mortgages covering different deposit sizes, loan amounts and customer circumstances.
Its product range includes mortgages for first-time buyers, home movers, remortgagers and eligible HSBC Premier customers.
One advantage is the availability of both standard fixed-rate products and Fee Saver options.
A Fee Saver mortgage removes the upfront booking fee, although the interest rate may be higher than that of a comparable fee-paying product.
HSBC’s published mortgage-rate information provides useful examples of how pricing varies across LTV bands.
Its displayed five-year fixed products have included a 4.99% rate at 60% LTV with a £999 booking fee, compared with a 5.06% Fee Saver alternative at the same LTV.
At 95% LTV, HSBC’s published five-year fixed Fee Saver example has shown an initial rate of 5.73%, no booking fee and £350 cashback.
These figures are lender-specific advertised examples and can change before an application is made.
HSBC generally permits annual overpayments of 10% on its published fixed-rate products.
The lender also offers Premier mortgage pricing for eligible customers, making it worth checking whether existing banking relationships provide access to alternative mortgage products.
HSBC 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum LTV | Up to 95% |
| Minimum deposit | From 5% |
| Published 60% LTV example | 4.99%, £999 booking fee |
| Published 95% LTV example | 5.73% Fee Saver, £0 booking fee |
| Product fee options | Fee Saver and fee-paying products |
| Annual overpayment allowance | 10% on the cited fixed-rate products |
| Cashback | Available on selected products |
| HSBC Premier options | Preferential products for eligible customers |
| Suitable for | Borrowers comparing low-fee mortgages and Premier customers |
HSBC is worth considering for borrowers who want to compare several mortgage structures rather than simply choose the product with the lowest initial interest rate.
For example, on a relatively small mortgage, avoiding a £999 booking fee may provide better overall value even when the interest rate is slightly higher.
On a larger loan, the interest savings from a lower rate could outweigh the arrangement fee.
Applicants should therefore compare the interest charged during the fixed period, arrangement fees, cashback and any other compulsory costs.
Official website: HSBC Mortgage Rates
6. Santander
Santander offers five-year fixed-rate mortgages for first-time buyers, home movers and remortgage customers, with products designed around different deposit levels and affordability requirements.
A significant development in its 2026 mortgage offering is the introduction of My First Mortgage, a specialist five-year fixed product for first-time buyers with smaller deposits.
Launched in February 2026, the product allows qualifying borrowers to access mortgages at up to 98% LTV.
This means some applicants may be able to purchase a property with substantially less than the conventional 5% deposit, although strict eligibility conditions apply.
Santander states that My First Mortgage requires a minimum £10,000 deposit and provides borrowing between £190,001 and £500,000.
The product is unavailable for flats, new-build homes and properties in Northern Ireland. For joint applications, both borrowers must be first-time buyers.
Santander’s mortgage comparison facility also lists the relevant product fees, fixed-rate periods, APRCs, cashback incentives and early repayment charges.
For standard fixed-rate mortgages, Santander generally allows overpayments of up to 10% of each fixed-rate loan per calendar year without an early repayment charge.
Unused allowances cannot be carried forward into subsequent years.
Santander 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Standard mortgage LTV | Depends on the product |
| Specialist maximum LTV | Up to 98% through My First Mortgage |
| My First Mortgage minimum deposit | £10,000 |
| My First Mortgage loan size | £190,001–£500,000 |
| My First Mortgage product fee | £0 on the published product |
| Cashback | £250 on the published My First Mortgage product |
| Annual overpayment allowance | Up to 10% of fixed-rate loan |
| Specialist property exclusions | Flats, new builds and Northern Ireland properties |
| Suitable for | Eligible first-time buyers with limited deposits |
Santander’s specialist low-deposit mortgage may appeal to first-time buyers who have sufficient income to support repayments but face difficulty accumulating a conventional deposit.
However, borrowing at 98% LTV creates considerably greater exposure to negative equity if property prices decline.
For example, a property purchased with a 2% deposit offers a much smaller initial equity buffer than one purchased with a 10% or 20% deposit.
Borrowers should therefore evaluate the longer-term financial consequences of taking a high-LTV mortgage, including affordability, total interest costs and their potential ability to remortgage after five years.
Santander customers using a current account to receive mortgage-payment cashback may also want to review the Santander account fee increase to understand how monthly banking charges affect the net value of account benefits.
Official website: Santander My First Mortgage
7. TSB
TSB provides five-year fixed-rate mortgage products for first-time buyers, home movers, remortgagers and existing mortgage customers.
Its products cater to borrowers with different deposit levels, including qualifying residential repayment mortgages at up to 95% LTV.
According to TSB’s official mortgage eligibility criteria, repayment mortgages may be available at up to 95% of the property’s value or purchase price, whichever is lower.
However, interest-only mortgages are generally subject to a lower maximum of 75% LTV, reflecting the additional repayment risk associated with these arrangements.
TSB also supports selected new-build purchases at up to 95% LTV, subject to applicable property and lending restrictions.
Five-year fixed-rate products can include different arrangement-fee structures, cashback incentives and early repayment charge schedules.
TSB’s mortgage information explains that customers can generally overpay up to 10% of the amount owed on 1 January in each calendar year without incurring an early repayment charge.
Some products may permit a higher allowance.
The lender’s mortgage documentation also outlines portability arrangements, which can enable customers to transfer an existing mortgage product to a new property, subject to approval.
TSB 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum repayment mortgage LTV | Up to 95% |
| Minimum deposit | From 5% |
| Maximum interest-only LTV | Generally 75% |
| New-build mortgages | Up to 95% LTV, subject to conditions |
| Product fees | Vary; fee-free options may be available |
| Annual overpayment allowance | Generally 10% of 1 January balance |
| Mortgage portability | Subject to approval and product conditions |
| Early repayment charges | Vary by mortgage product |
| Suitable for | First-time buyers, conventional repayment borrowers and existing customers |
TSB may be particularly suitable for borrowers seeking a conventional repayment mortgage with straightforward payment arrangements and access to online and branch-based banking services.
One important point is the distinction between repayment and interest-only lending.
A repayment mortgage gradually reduces both capital and interest over the mortgage term. An interest-only mortgage generally requires a separate, acceptable repayment strategy for the capital balance.
Borrowers should ensure that they understand the total cost and repayment structure before selecting a five-year fixed product.
Official website: TSB Mortgages
8. Virgin Money
Virgin Money remains an established mortgage brand offering fixed-rate products, remortgage options and mortgage-management facilities for existing homeowners.
However, its ownership and mortgage application arrangements changed significantly during 2026.
Following Nationwide’s acquisition of Virgin Money, the legal transfer of Virgin Money’s business to Nationwide was completed on 2 April 2026.
Although Virgin Money mortgages continue to operate under their existing branding, Nationwide is now the legal entity behind the transferred business.
Virgin Money’s official mortgage website currently directs many new applicants towards Nationwide’s mortgage products.
Importantly, it also confirms that new Virgin Money-branded residential mortgage products remain available through mortgage brokers.
This means borrowers specifically interested in a Virgin Money five-year fixed deal may need to use an intermediary rather than assume that the full range is available through the same direct application process as before.
For existing customers, Virgin Money continues to provide mortgage switching, borrowing and account-management services.
Its Everyday Mortgage range generally permits overpayments of up to 10% of the mortgage balance per calendar year during the initial fixed-rate period without an early repayment charge.
Certain fully flexible products have different overpayment arrangements, so the applicable product terms remain important.
Virgin Money 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5-year products within relevant ranges |
| Legal ownership | Transferred to Nationwide on 2 April 2026 |
| New direct applicants | Generally directed towards Nationwide |
| Virgin Money-branded new deals | Available through mortgage brokers |
| Existing customer services | Product switching and mortgage management |
| Maximum LTV | Depends on the selected product |
| Standard overpayment allowance | Generally up to 10% annually |
| Fully flexible products | Different overpayment conditions may apply |
| Early repayment charges | Product-specific |
| Suitable for | Existing Virgin Money customers and broker-assisted applicants |
Virgin Money may be relevant to homeowners who already have a mortgage with the brand and want to explore a product transfer.
Before moving to Nationwide or another lender, existing borrowers should compare the interest rate, product fee and any charges associated with leaving their current agreement.
Customers should also establish whether the mortgage they are being offered is a Virgin Money-branded product or a Nationwide product, because lending terms, product availability and servicing arrangements may differ.
Official website: Virgin Money Mortgages
9. First Direct
First Direct offers five-year fixed-rate mortgages with an emphasis on digital banking, telephone-based support and flexible repayment arrangements.
The lender serves first-time buyers, homeowners and customers looking to remortgage, with mortgage products tailored to different borrowing requirements.
One important correction to older mortgage comparisons is that First Direct currently advertises mortgages at up to 95% LTV for home purchases, while remortgaging is generally available at up to 90% LTV.
The bank also states that eligible first-time buyers may be able to borrow up to 5.5 times their income, compared with a standard indicative maximum of 4.75 times income.
One of First Direct’s strongest differentiating features is its overpayment policy.
Unlike lenders that typically impose a 10% or 20% annual allowance, First Direct advertises unlimited mortgage overpayments, including on fixed-rate deals.
However, early repayment charges may still apply if borrowers repay their entire mortgage during the fixed-rate period.
First Direct requires applicants to meet eligibility conditions relating to UK residency, income, affordability, age and the mortgage term.
The published mortgage criteria include a minimum borrowing amount of £10,000 and repayment terms between two and 40 years.
First Direct 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum purchase LTV | Up to 95% |
| Maximum remortgage LTV | Up to 90% |
| Minimum borrowing | £10,000 |
| Mortgage term | 2–40 years, subject to eligibility |
| Standard indicative income multiple | Up to 4.75 times income |
| First-time buyer income multiple | Up to 5.5 times income |
| Overpayment allowance | Unlimited overpayments |
| Full early repayment | ERC may apply during the fixed period |
| Suitable for | Digital-first borrowers and customers seeking substantial overpayment flexibility |
First Direct may be especially attractive to borrowers expecting irregular but substantial additional income.
For example, a self-employed professional, business owner or employee receiving significant annual bonuses may benefit from the ability to reduce mortgage capital without being restricted to a conventional annual overpayment percentage.
Nevertheless, unlimited overpayments should not be confused with unrestricted early mortgage redemption.
Borrowers considering paying off the entire balance during the fixed period must review the applicable early repayment charges.
Official website: First Direct Mortgages
10. Lloyds Bank
Lloyds Bank provides a comprehensive range of five-year fixed-rate mortgages for first-time buyers, homeowners moving property and customers looking to remortgage.
Its mortgage selection includes products for different deposit sizes, borrowing requirements and financial circumstances.
Lloyds advertises eligible residential mortgages at up to 95% LTV, enabling qualifying buyers to purchase a home with a minimum 5% deposit.
Under its published 95% mortgage criteria, the property must generally be worth no more than £600,000, with a maximum borrowing amount of £570,000.
The product range also includes mortgage incentives for eligible Club Lloyds current account holders.
Lloyds states that qualifying Club Lloyds customers who are first-time buyers or moving home may receive a discount on their initial mortgage interest rate.
Importantly, the preferential offer is not a universal discount for all Club Lloyds customers or remortgage situations.
Borrowers must hold an eligible Club Lloyds current account before taking out the mortgage, and the advertised current account normally has a £5 monthly fee that is refunded when the required monthly funding conditions are met.
For existing mortgage customers, Lloyds generally permits overpayments of up to 10% of the outstanding balance as measured on 1 January, where early repayment charges apply.
The bank also advertises a Remortgage Switcher Service that can cover standard valuation and basic legal work for qualifying applicants.
Lloyds Bank 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum LTV | Up to 95% |
| Minimum deposit | From 5% |
| Maximum property value for stated 95% product | £600,000 |
| Maximum loan for stated 95% product | £570,000 |
| Product fees | Vary by deal |
| Club Lloyds benefit | Potential discounted initial rate for eligible buyers |
| Annual overpayment allowance | Generally up to 10% where ERCs apply |
| Remortgage incentives | Standard valuation and basic legal work on qualifying offers |
| Suitable for | First-time buyers, home movers and qualifying Club Lloyds members |
Lloyds Bank may be particularly suitable for borrowers who already use its banking services or prefer access to both online mortgage tools and high-street support.
However, applicants should calculate the total value of any Club Lloyds interest-rate discount and account for the current account’s monthly fee if they do not meet its waiver requirements.
A relatively small mortgage-rate reduction can still produce meaningful savings over five years, particularly on a larger balance, but it should be compared against all other available products.
Official website: Lloyds Fixed-Rate Mortgages
11. Coventry Building Society
Coventry Building Society offers a range of five-year fixed-rate mortgages designed for first-time buyers, home movers and existing homeowners looking to remortgage.
Its mortgage products combine competitive fixed-interest options with flexible repayment features, making it a strong alternative to traditional high-street banks.
One of Coventry’s advantages is the availability of mortgages at up to 95% loan-to-value (LTV), allowing eligible first-time buyers to purchase a property with a deposit of just 5%.
Its published first-time buyer mortgage range includes five-year fixed products at different LTV levels, with options carrying no product fee or fees such as £499 and £999.
For example, the building society’s advertised range has included a 95% LTV first-time buyer mortgage fixed at 5.50% until 29 February 2032, carrying a £499 product fee.
A separate fee-free 95% LTV product has been advertised at 5.58%. These are published product examples, not guaranteed rates at application.
Another important feature is its overpayment flexibility. Qualifying fixed-rate products generally allow borrowers to repay up to 10% of their mortgage capital annually without an early repayment charge.
Coventry also provides an offset mortgage range. An offset mortgage links qualifying savings to the mortgage balance, reducing the portion on which interest is calculated.
This arrangement may be particularly useful for self-employed professionals and business owners holding significant cash reserves while wanting to retain access to their savings.
Coventry Building Society 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum residential LTV | Up to 95% |
| Minimum deposit | From 5% |
| Published five-year rate example | 5.50% at 95% LTV, £499 fee |
| Product fee options | Selected £0, £499 and £999 products |
| Annual overpayment allowance | Generally up to 10% |
| Offset mortgage options | Available on selected products |
| Mortgage valuation | One valuation included on relevant products |
| Early repayment charges | Apply during the specified fixed-rate period |
| Suitable for | First-time buyers, remortgagers and borrowers considering offset mortgages |
Coventry Building Society may appeal to borrowers who want access to specialist mortgage features without relying solely on a large commercial bank.
However, borrowers should compare the actual five-year cost of fee-paying and fee-free products. A fee-free mortgage may cost less overall for smaller loans even when the initial interest rate is slightly higher.
Official website: Coventry Building Society Mortgages
12. Yorkshire Building Society
Yorkshire Building Society provides five-year fixed-rate mortgages for first-time buyers, home movers and customers transferring mortgages from other lenders.
Its lending range covers different deposit sizes, including standard residential mortgages at 95% LTV.
A notable specialist offering is its £5k Deposit Mortgage, designed to help eligible first-time buyers purchase a property with a smaller deposit than conventional mortgage products usually require.
The scheme permits borrowing at up to 99% LTV, with a minimum £5,000 deposit and a maximum property value of £500,000.
Applicants can potentially borrow between £95,001 and £495,000, subject to affordability and lending criteria.
However, the £5k Deposit Mortgage is not available for new-build properties or purchases in Northern Ireland.
For joint applications, at least one applicant must qualify as a first-time buyer, and neither applicant can currently own another property.
These specialist lending conditions distinguish Yorkshire Building Society from lenders concentrating primarily on traditional 90% and 95% LTV mortgages.
Yorkshire Building Society also offers an important benefit to existing customers approaching the end of their fixed-rate agreements.
During the final 120 days of a qualifying mortgage deal, customers may make partial overpayments above their normal allowance without an early repayment charge, provided they do not repay the mortgage entirely.
This facility may allow borrowers to reduce their outstanding balance before arranging their next fixed-rate deal, potentially improving their LTV position and increasing the range of available mortgage products.
Yorkshire Building Society 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5-year fixed products available |
| Standard residential LTV | Up to 95% |
| Specialist maximum LTV | Up to 99% through £5k Deposit Mortgage |
| Minimum specialist deposit | £5,000 |
| Maximum property value for £5k product | £500,000 |
| Specialist borrowing range | £95,001–£495,000 |
| Product fees | Depend on the mortgage selected |
| Standard overpayment allowance | Product-specific |
| Final 120-day overpayment flexibility | Additional partial overpayments without ERC on qualifying deals |
| Mortgage Decision in Principle | Available without affecting credit score at the initial stage |
| Suitable for | First-time buyers, low-deposit applicants and existing borrowers approaching renewal |
Yorkshire Building Society may be particularly appealing to first-time buyers who have sufficient earnings to afford mortgage repayments but have found saving a substantial deposit difficult.
Nevertheless, a 99% LTV mortgage carries a higher risk of negative equity if property prices fall. Even a relatively small reduction in property value could leave the homeowner owing more than the property is worth.
Borrowers should assess the affordability of future mortgage payments, the likely outstanding loan balance after five years and the availability of refinancing options before committing to a very high-LTV mortgage.
Official website: Yorkshire Building Society Fixed-Rate Mortgages
13. Skipton Building Society
Skipton Building Society offers five-year fixed-rate mortgages across a range of residential lending categories, including first-time buyer mortgages, conventional repayment mortgages and specialist affordability products.
Its distinctive mortgage offering is the Track Record Mortgage, which allows qualifying renters to purchase their first home without necessarily having a deposit.
The product is designed for applicants who can demonstrate a consistent history of rental payments but have been unable to save a conventional 5% or 10% deposit.
Eligible applicants may borrow up to 100% of the property’s value through a mortgage with an interest rate fixed for five years.
Applicants must generally be aged at least 21, must not have owned a UK property during the preceding three years and must demonstrate 12 consecutive months of rent payments within the previous 18 months.
The specialist mortgage allows borrowing of up to £600,000 and is available for qualifying purchases in England, Scotland and Wales.
Skipton also operates a separate Loan-to-Income Booster range that can permit eligible customers to borrow up to six times their annual income.
This enhanced borrowing option requires minimum annual earnings of £40,000 for sole applicants or £60,000 combined for joint applicants. Importantly, the LTI Booster criteria do not apply to Track Record mortgages.
Skipton’s published five-year LTI Booster products have included a 5.61% fixed rate with no product fee, fixed until January 2032. Pricing and eligibility vary according to the individual product.
Skipton Building Society 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Maximum specialist LTV | Up to 100% through Track Record |
| Track Record minimum deposit | No deposit required for qualifying applicants |
| Track Record maximum loan | £600,000 |
| Minimum Track Record age | 21 |
| Rental history requirement | 12 consecutive months within the previous 18 months |
| LTI Booster maximum | Up to 6 times income on eligible separate products |
| LTI Booster minimum income | £40,000 sole or £60,000 joint |
| Product fees | Fee-free and fee-paying options |
| Standard fixed-rate overpayments | Commonly up to 10% of original balance annually |
| Suitable for | Renters, first-time buyers and qualifying higher-income-multiple borrowers |
Skipton may be one of the more relevant options for borrowers facing two common obstacles: insufficient deposit savings and limited borrowing capacity under conventional income multiples.
However, these are addressed through separate mortgage products with different eligibility requirements.
A no-deposit mortgage also increases financial exposure because the borrower begins with little or no equity in the property.
Anyone considering the Track Record Mortgage should compare the total borrowing cost with a conventional five-year fixed mortgage and consider how potential property-price changes might affect their ability to sell or remortgage later.
Official website: Skipton Building Society Mortgage Finder
14. Leeds Building Society
Leeds Building Society offers five-year fixed-rate mortgage products for first-time buyers, home movers and remortgage customers.
Its residential mortgage range includes conventional lending options at different LTV levels, alongside specialist products designed for buyers with smaller deposits.
One of its notable innovations is the Start Mortgage, which supports eligible first-time buyers seeking to borrow up to 98% of a property’s value.
Unlike a standard 95% mortgage, the Start product allows qualifying applicants to purchase with a deposit of just 2% of the property value or £5,000, whichever is greater.
The society’s published Start five-year fixed product carried an initial rate of 5.91%, with no product fee, fixed until 30 November 2031.
According to its published mortgage illustration, a £200,000 repayment mortgage over 25 years at this initial rate would require payments of approximately £1,276.29 per month during the first five years.
This particular illustration assumes the lender’s specified repayment structure and does not reflect every applicant’s circumstances.
The maximum loan for the cited Start product is £500,000, and the scheme excludes new-build properties.
Leeds Building Society also provides conventional five-year fixed products at lower LTV levels, including fee-paying and fee-free alternatives.
Its published first-time buyer mortgage range has included 95% LTV five-year products with rates from 5.24% carrying a £999 product fee and 5.27% with no product fee. These examples were published in September 2026 and require reconfirmation before use as current offers.
Leeds Building Society 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5 years |
| Standard first-time buyer maximum LTV | Up to 95% |
| Start Mortgage maximum LTV | 98% |
| Start minimum deposit | 2% or £5,000, whichever is greater |
| Published Start initial rate | 5.91%, September 2026 listing |
| Start Mortgage product fee | £0 on the cited product |
| Start Mortgage maximum loan | £500,000 |
| Start minimum household income | £30,000, subject to lending criteria |
| Standard overpayment allowance | Generally 10% annually on cited fixed-rate products |
| New-build eligibility | Excluded from Start Mortgage |
| Suitable for | Low-deposit first-time buyers and borrowers comparing fixed-rate fees |
Leeds Building Society may be suitable for applicants whose household income supports mortgage payments but who are struggling to accumulate a larger deposit.
The society also provides mortgage options for other borrowers with varying deposit levels, giving customers an opportunity to compare lower-LTV rates against specialist lending products.
However, borrowers should not assume that a lower deposit automatically produces a better financial outcome.
A 98% mortgage will generally involve greater borrowing and a smaller equity buffer than an otherwise comparable mortgage at 90% or 80% LTV.
Official website: Leeds Building Society Fixed-Rate Mortgages
15. Principality Building Society
Principality Building Society offers residential mortgage products for first-time buyers, home movers, remortgage customers and qualifying borrowers requiring additional family support.
Its five-year fixed-rate options are designed for customers seeking predictable monthly repayments alongside flexible borrowing structures.
Principality’s official lending criteria permit qualifying first-time buyers to borrow up to 95% of a property’s value.
For home movers and remortgage customers, the typical maximum LTV is 90%, although individual property types and specific lending categories may be subject to additional restrictions.
One of Principality’s most distinctive features is its support for family-assisted mortgage applications.
The building society provides Joint Borrower Sole Proprietor arrangements, allowing eligible family members to support an applicant’s borrowing capacity without necessarily becoming legal owners of the property.
Principality also permits eligible applications to use the income of up to four individuals when assessing affordability.
This can help applicants whose individual income might not be sufficient to purchase a suitable property, even when they have saved an adequate deposit.
The lender’s new-build criteria are also worth examining. Qualifying first-time buyers may access up to 95% LTV on new-build houses, while new-build flats are generally limited to 90% LTV.
These distinctions matter because property type can affect both the mortgage rate offered and the deposit required.
The broader issue of whether developers are producing suitable homes for different buyer groups is examined in why we’re building the wrong homes, particularly in relation to the availability of starter properties and housing suitable for older homeowners.
Principality also allows qualifying mortgage customers to make overpayments of up to 10% of their outstanding mortgage balance annually without incurring an early repayment charge.
For most products, this allowance is calculated using the balance on 1 January of the relevant calendar year.
Principality Building Society 5-Year Fixed Mortgage Features
| Feature | Details |
|---|---|
| Fixed-rate duration | 5-year fixed products available |
| First-time buyer maximum LTV | Up to 95% |
| Home mover maximum LTV | Generally up to 90% |
| Remortgage maximum LTV | Generally up to 90% |
| Minimum residential mortgage advance | £5,000 |
| Mortgage term | 5–40 years, subject to eligibility |
| Family-assisted mortgages | Joint Borrower Sole Proprietor options |
| Income support | Up to four eligible individuals |
| New-build house maximum LTV | Up to 95% for eligible first-time buyers |
| New-build flat maximum LTV | Generally 90% |
| Annual overpayment allowance | Up to 10% of relevant annual balance |
| Lending regions | England and Wales |
| Suitable for | First-time buyers, family-supported applicants and eligible new-build purchasers |
Principality Building Society may be particularly appropriate for borrowers who need family support to meet affordability requirements.
However, using another person’s income in a mortgage application can create significant financial obligations for that individual.
Applicants should ensure that every borrower understands their responsibilities, including potential liability for repayments and the consequences of missed mortgage payments.
The relevant mortgage rate, product fee, cashback availability and early repayment charges should be checked using Principality’s mortgage product finder before making a final comparison.
Official website: Principality Building Society Mortgage Products
Compare the Top 15 UK Lenders Offering 5-Year Fixed Mortgage Rates
| Lender | Max LTV | Typical Product Fee | Cashback / Incentives | Free Valuation | Overpayment Allowed | Ideal For |
|---|---|---|---|---|---|---|
| Barclays | 95% | £999 | No | Yes | Up to 10% annually | Green buyers & remortgagers |
| NatWest | 95% | £0–£995 | Yes | Yes | Up to 10% annually | First-time buyers & energy-efficient homes |
| Nationwide | 95% | £999 | Yes (select deals) | Yes | Flexible overpayments | Existing members & shared owners |
| Halifax | 95% | £0–£1,295 | Yes | Yes | 10% annually | First-time buyers |
| HSBC | 95% | £0–£999 | No | Yes | Yes | Borrowers with strong credit |
| Santander | 95% | £999 | Yes | Yes | 10% annually | Rent-to-buy and remortgagers |
| TSB | 95% | £0–£995 | No | Yes | 10% annually | Simple mortgage applicants |
| Virgin Money | 95% | £0–£995 | Yes | Yes | Flexible repayments | Flexible & tech-savvy borrowers |
| First Direct | 90% | £490 | No | Yes | 10% annually | Digital-only mortgage seekers |
| Lloyds Bank | 95% | £0–£999 | Yes (Club Lloyds) | Yes | Yes | Existing customers & first-time buyers |
| Coventry Building Society | 95% | £499–£999 | Yes (select deals) | Yes (select deals) | Up to 10% annually | First-time buyers & remortgagers |
| Yorkshire Building Society | 99% | £0–£995 | Yes (select deals) | Select deals | Product-dependent | Low-deposit buyers & home movers |
| Skipton Building Society | 100% (Track Record) | £0–£1,995 | Product-dependent | Yes (subject to criteria) | Typically 10% annually | Renters & first-time buyers |
| Leeds Building Society | 98% (Start mortgage) | £0–£1,499 | Product-dependent | Yes (select deals) | Product-dependent | Low-deposit buyers & shared ownership |
| Principality Building Society | 95% | £0–£1,499 | Yes (select deals) | Yes (select deals) | Up to 10% annually | Welsh homebuyers & first-time buyers |
Conclusion
A 5-year fixed mortgage can offer the perfect balance of rate stability and flexibility for many UK homeowners.
By locking in your interest rate for five years, you gain peace of mind against market fluctuations and make budgeting easier.
With the right research, comparison, and advice, you can secure a deal that fits your needs. Be proactive, use tools wisely, and review offers regularly to stay ahead of market changes and protect your investment.
Frequently Asked Questions
How early can you lock in a 5-year fixed mortgage deal?
Most lenders allow you to lock in a fixed rate mortgage up to six months before completion. This helps you secure a rate before potential increases.
Can you switch a 5-year fixed mortgage before the term ends?
Yes, you can switch but you may have to pay an early repayment charge. This cost varies by lender and product terms.
What happens after the 5-year fixed rate ends?
The mortgage typically reverts to the lender’s standard variable rate. You can choose to remortgage or negotiate a new fixed term.
Are 5-year fixed mortgages good for first-time buyers?
Yes, they offer predictable monthly payments which help with budgeting. It’s especially helpful when managing new financial responsibilities.
Do overpayments affect the fixed rate terms?
Many lenders allow limited overpayments without penalty. Always check if your product includes any early repayment limits.
How often do lenders update their mortgage rates?
Mortgage rates are usually updated weekly or in response to base rate changes. Market conditions can also influence rate reviews.
Is a longer fixed mortgage always better in uncertain markets?
Not always, as it depends on your future plans and financial stability. A longer fix offers security but reduces flexibility.
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