Mortgage rates set to jump for borrowers renewing later this year

Bank Rate has held steady at 3.75% since December. Borrowers renewing fixed-rate mortgages in the second half of 2026 will face substantially higher rates than their current deals. The Monetary Policy Committee voted 7–2 in June to hold rates, signalling pressure for cuts ahead. An early reduction could soften the impact; further delays would force households to absorb the full difference.