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SLI new business £205.0m ▲2.0%Bank Rate 3.75% — 0bp2yr fix 5.13% ▲21bp
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2-year fixes up 21bp as Bank Rate holds at 3.75%

Five-year fixes rose almost as fast. Both are at or near their April highs, with Bank Rate unchanged since January.

By Lending IntelligenceUpdated 1 min read
The newsQuoted 2-year fix at 75% LTV: 5.13% in September 2026, from 4.92% in August (Bank of England).
Why it mattersFixed-rate pricing has risen for two months running while Bank Rate has stayed put.
What's nextThe MPC decides Bank Rate on 5 November.

The figures

The Bank of England's quoted 2-year fixed rate at 75% loan to value rose 21 basis points in September 2026, to 5.13% from 4.92% in August. The 5-year equivalent rose 20 basis points, from 4.78% to 4.98%.1

Bank Rate averaged 3.75% in September 2026, as it has every month since January.1

In context

The 2-year rate is 15 basis points above the 5-year, against 3 basis points a year earlier. It peaked at 5.14% in April, eased to 4.79% by July and has risen in each month since.1

Bank Rate's monthly average was 4.00% from September to November 2025 and 3.90% in December, before settling at 3.75% in January 2026.1

A year earlier, in September 2025, the 2-year fix was 4.19% and the 5-year 4.16%, with Bank Rate averaging 4.00%. Both fixes are higher now, by 94 and 82 basis points, despite a lower Bank Rate.1

The steepest rise came in spring. The 2-year fix stood at 3.97% in February 2026, climbed to 4.45% in March and reached 5.14% in April.1

Quoted rates are averages of advertised first-charge rates for new lending, not the rate any borrower will get. Second-charge pricing is set separately by each lender and isn't in these figures.2

What's next

The Bank publishes quoted rates on the fifth working day of the following month, so October's figures are due on 6 November 2026, the day after the Monetary Policy Committee's next decision.2,3

Sources

  1. 1Bank of England, “Bankstats: quoted household interest rates (IUMBV34, IUMBV42) and Bank Rate (IUMABEDR), monthly”Monthly quoted 2-year and 5-year fixed rates at 75% LTV, and the monthly average of Bank Rate.
  2. 2Bank of England, “Further details about quoted household interest rates data”What quoted rates measure, and that they are published on the fifth working day of the following month.
  3. 3Bank of England, “Monetary Policy Committee dates for 2026”The MPC's 5 November 2026 Bank Rate announcement.

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