Angel Thomas
Principal Adviser, In2Equity Ltd
On 17 September 2026 the Bank of England's Monetary Policy Committee voted to hold the base rate at 3.75%. Inflation is sitting at 2.9%, still above the 2% target, and the committee clearly isn't ready to cut further just yet.
If that sentence means nothing to you, don't worry. Here is the bit that actually matters for your mortgage.
If you are on a tracker or discount mortgage
Your rate moves with the base rate. A hold means your monthly payment stays the same this month. No action needed - but keep an eye on the next meeting, because even a small cut later in the year will drop straight onto your payment.
If your fixed rate is ending soon
This is where it gets useful. Lenders price their fixed deals based on where they think rates are heading, not just where they are today. With the base rate steady at 3.75%, we are seeing 2-year fixes in the low 4s and 5-year fixes around 4.3% to 4.6% from the more competitive lenders.
The key point: you can lock a new deal up to 6 months before your current one ends. If you are coming off a fix in the next few months, let us diary the date and watch the market for you. Locking early means if rates rise before your expiry, you are protected. If they fall, many lenders let you take the lower rate right up to completion.
If you are buying or remortgaging now
Nothing changes overnight. The hold confirms the market we have been working in all summer. Affordability stress tests still run at the lender's reverted rate (usually around 1% above the pay rate), so your borrowing ceiling is unchanged.
The honest take
A hold is not exciting, but it is predictable - and predictable is good when you are planning a mortgage. If you want us to check whether your current deal still beats the market, or to lock a new rate before your fix ends, that is a free conversation. Call us.