If your two-year fixed mortgage is about to expire, you might potentially be in for some positive news. Back in early 2023, many borrowers locked into deals with interest rates as high as 6.86%, as the Bank of England battled stubborn inflation with relentless interest rate hikes¹. Now, however, the tables have turned—and you could be paying much less when you remortgage.

The latest figures² show that the Bank of England cut its base rate to 4.5% in February 2025, marking a sharp drop from its peak of 5.25% last year. Lenders have responded swiftly, with big names like Santander and Halifax slashing their mortgage rates. In fact, Santander has just launched a 3.99% fixed-rate mortgage, the first sub-4% deal seen in months².

Mortgage rates are significantly lower than they were during some of the highly volatile periods of the last couple of years, but have bobbed up and down, as markets have been hesitant in how quickly they expect rates to come down, according to industry analysts.³

According to Moneyfacts⁴, the average two-year fixed rate peaked at 6.86% in 2023—one of the highest levels in more than a decade. But as of February 2025, some of the best deals are now hovering between 4.13% and 4.23%, though this is still higher than the 2.25% average seen in 2021 when, interest rates were at historic lows⁵.

Securing a mortgage deal isn’t just about finding the lowest interest rate – it’s about ensuring the mortgage works for your personal circumstances now and in the future. We’re here to help find you the deals that match your needs, from a comprehensive panel of lenders across the marketplace.

With such a wide range of lenders, and deals that fluctuate regularly, navigating the mortgage market alone can be overwhelming, so it’s worth getting in touch so we can help you on the journey to find a deal that most closely fits your circumstances, and long-term goals.

The advice doesn’t just stop there. We’re also passionate about keeping you and your family protected. Afterall, a mortgage is one of the biggest financial commitments you’ll make, but what happens if something unexpected occurs? A home without protection is like buying a Ferrari without brakes – it looks great, but if something goes wrong, you’re at serious risk.

We can help you look at the fuller picture, including options for insurance and protection, so you and your family can remain financially secure, despite what life tries to throw your way.

If your current deal expires in the next six months, don’t wait until the last minute. Many lenders allow borrowers to lock in a new rate now, which means you can secure today’s lower rates while keeping an eye on further potential drops.

Consider these steps:

• Compare current rates: The best deals can disappear quickly, so acting fast could save you money. Take a look at our mortgage calculator, or get in touch with us today.
• Two-year or five-year fix? A shorter fix gives flexibility if rates drop further, but a five-year fix locks in stability.
• Speak to a mortgage expert: Professional advice ensures you secure the right mortgage for your financial future.

The mortgage market is shifting rapidly, and while rates have fallen, they may not stay this low forever. If you’re among the millions remortgaging this year, securing a deal now could mean a substantial saving, so don’t get caught out, and speak to us today to see how we can help to find the most suitable deal for your needs.

Take a proactive approach 

We can simplify the mortgage process for you and help secure you a great mortgage deal in the process. 

Contact the team on 01565 874 246
Email: hello@malloryfinancial.co.uk