Fixed-rate mortgages due to reset this year face sharper rates than borrowers locked in

Bank Rate has held at 3.75% since December 2025. UK borrowers whose fixed-rate mortgages expire in the second half of 2026 will face materially higher rates than when they locked in. The Monetary Policy Committee voted 7–2 in June to hold rates, signalling mounting pressure for cuts. A reduction before year-end could ease the blow; another hold would leave households absorbing the full gap.