--- title: "Mortgage Fixed Rate vs Tracker — Rates & Market Explainer (UK 2026) | First Rung Now" description: "How fixed and tracker mortgage rates are actually priced in the UK — SONIA swaps, Bank of England base rate, what happened in 2022–2026, and what market ex..." lang: en-GB json-ld: | [ { "@context": "https://schema.org", "@type": "Organization", "name": "First Rung Now", "url": "https://firstrungnow.com", "logo": { "@type": "ImageObject", "url": "https://firstrungnow.com/logo-512.png", "width": 512, "height": 512 }, "description": "Independent UK mortgage education and broker matching service.", "address": { "@type": "PostalAddress", "addressCountry": "GB" } }, { "@context": "https://schema.org", "@type": "WebSite", "name": "First Rung Now", "url": "https://firstrungnow.com" }, { "@context": "https://schema.org", "@type": "Article", "headline": "Mortgage Fixed Rate vs Tracker", "description": "How fixed and tracker mortgage rates are actually priced in the UK — SONIA swaps, Bank of England base rate, what happened in 2022–2026, and what market expectations mean for borrowers choosing today.", "author": { "@type": "Organization", "name": "First Rung Now" }, "publisher": { "@type": "Organization", "name": "First Rung Now", "url": "https://firstrungnow.com" }, "mainEntityOfPage": "https://firstrungnow.com/mortgage-fixed-rate-vs-tracker", "datePublished": "2026-06-15", "dateModified": "2026-06-15", "inLanguage": "en-GB" }, { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://firstrungnow.com/" }, { "@type": "ListItem", "position": 2, "name": "Mortgages", "item": "https://firstrungnow.com/mortgages" }, { "@type": "ListItem", "position": 3, "name": "Fixed Rate vs Tracker", "item": "https://firstrungnow.com/mortgage-fixed-rate-vs-tracker" } ] }, { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "What are SONIA swap rates and why do they affect my fixed mortgage?", "acceptedAnswer": { "@type": "Answer", "text": "SONIA — the Sterling Overnight Index Average — is the benchmark UK interest rate that replaced LIBOR. Banks use SONIA-based swap contracts to hedge against interest rate movements when they write fixed-rate mortgages. A 5-year SONIA swap rate essentially represents the market's collective view of where the Bank of England base rate will average over the next five years. When that expectation shifts, fixed mortgage pricing shifts with it — often before base rate itself has moved." } }, { "@type": "Question", "name": "Why did fixed mortgage rates rise so sharply in 2022 and 2023?", "acceptedAnswer": { "@type": "Answer", "text": "The Bank of England raised base rate fourteen consecutive times between December 2021 and August 2023, taking it from 0.10% to 5.25%. Swap markets anticipated most of those moves ahead of time, meaning fixed-rate mortgage pricing surged well before base rate peaked. The mini-Budget in September 2022 caused an additional dislocation in swap markets that pushed 2-year fixed rates briefly above 6.5%, a level not seen since before the 2008 financial crisis." } }, { "@type": "Question", "name": "How does the Monetary Policy Committee affect tracker mortgage rates?", "acceptedAnswer": { "@type": "Answer", "text": "Directly and immediately. The MPC meets eight times a year and votes on the Bank of England base rate. Tracker mortgages are contractually linked to base rate, so a 0.25% cut translates to a 0.25% reduction in your pay rate, typically within the next billing cycle. Fixed rates are not affected by MPC decisions during the fixed term — only by swap market movements at the point of new product pricing." } }, { "@type": "Question", "name": "Are current fixed rates already pricing in future base rate cuts?", "acceptedAnswer": { "@type": "Answer", "text": "Yes. Swap markets in mid-2026 are pricing roughly two to three base-rate cuts of 0.25% each over the following eighteen months. That expectation is baked into today's 5-year fixed rates. If cuts happen exactly as expected, the fix and a tracker end up close to even on total cost. If cuts are deeper or faster than expected, the tracker wins; if cuts are delayed or reversed, the fix wins." } }, { "@type": "Question", "name": "What drove base rate to its post-2008 peak in 2023?", "acceptedAnswer": { "@type": "Answer", "text": "A combination of post-pandemic supply-chain inflation, energy price shocks following Russia's invasion of Ukraine in February 2022, and a tight UK labour market that kept wage growth elevated. The MPC raised base rate from 0.10% to 5.25% over roughly twenty months — the most aggressive tightening cycle the UK had seen in four decades." } }, { "@type": "Question", "name": "If the Bank of England cuts rates, will my fixed rate come down too?", "acceptedAnswer": { "@type": "Answer", "text": "Not immediately and not automatically. If you are on a current fixed deal, your rate will not change until your fix ends. However, the fixed rates available on new products will typically fall in anticipation of or alongside base-rate cuts, because SONIA swaps move when rate expectations change. If you are about to remortgage, a falling-rate environment means the deals available to you are likely better than they were six to twelve months ago." } } ] } ] --- [Skip to content](#main) [London 020 8088 2997 ](tel:02080882997)[National 0333 567 1185 ](tel:03335671185) [![First Rung Now](/assets/logo-mark-CNo3p3DP.png) First Rung Now UK Mortgage Guides ](/) - Mortgages - Remortgages - Buy To Let - Bad Credit - Calculators - Guides - [Find a Broker](/find-a-mortgage-broker) - [About](/about) [London 020 8088 2997 ](tel:02080882997)[National 0333 567 1185 ](tel:03335671185) [Speak to a Vetted Broker](/find-a-mortgage-broker) 1. [Home](/) 2. [Mortgages](/mortgages) 3. Fixed Rate vs Tracker UK Mortgage Guide # Mortgage Fixed Rate vs Tracker: Rates, Markets and What's Driving Today's Pricing Walk into any mortgage conversation and the phrase 'it depends on where rates go' will surface within minutes. That's technically true — but it sidesteps the more useful question, which is how fixed and tracker mortgage rates are actually constructed, and why today's pricing looks the way it does. Understanding the mechanics gives you a much stronger basis for making a product decision, even if you have no view on what the Bank of England does next. First Rung Now Editorial Updated 15 June 2026 7 min read On this page 1. [Key takeaways](#key-takeaways) 2. [How fixed mortgage rates are built](#how-fixed-mortgage-rates-are-built) 3. [How tracker mortgage rates are built](#how-tracker-mortgage-rates-are-built) 4. [The UK rate cycle: 2021 to 2026](#the-uk-rate-cycle-2021-to-2026) 5. [Where swap markets are positioned today](#where-swap-markets-are-positioned-today) 6. [What has driven rates lower in 2025 and 2026](#what-has-driven-rates-lower-in-2025-and-2026) 7. [Reading today's rate table through a market lens](#reading-todays-rate-table-through-a-market-lens) 8. [The base rate outlook and what to watch](#the-base-rate-outlook-and-what-to-watch) 9. [A brief note on variable rate products](#a-brief-note-on-variable-rate-products) 10. [Pros](#pros) 11. [Cons](#cons) 12. [Speak with a vetted mortgage broker about understanding fixed and tracker mortgage pricing](#speak-with-a-vetted-mortgage-broker-about-understanding-fixed-and-tracker-mortgage-pricing) 13. [Why market context doesn't make the decision for you](#why-market-context-doesnt-make-the-decision-for-you) 14. [Frequently asked questions](#frequently-asked-questions) 15. [What are SONIA swap rates and why do they affect my fixed mortgage?](#what-are-sonia-swap-rates-and-why-do-they-affect-my-fixed-mortgage) 16. [Why did fixed mortgage rates rise so sharply in 2022 and 2023?](#why-did-fixed-mortgage-rates-rise-so-sharply-in-2022-and-2023) 17. [How does the Monetary Policy Committee affect tracker mortgage rates?](#how-does-the-monetary-policy-committee-affect-tracker-mortgage-rates) 18. [Are current fixed rates already pricing in future base rate cuts?](#are-current-fixed-rates-already-pricing-in-future-base-rate-cuts) 19. [What drove base rate to its post-2008 peak in 2023?](#what-drove-base-rate-to-its-post-2008-peak-in-2023) 20. [If the Bank of England cuts rates, will my fixed rate come down too?](#if-the-bank-of-england-cuts-rates-will-my-fixed-rate-come-down-too) 21. [Related guides](#related-guides) 22. [Decision Framework: Which to Choose](#decision-framework-which-to-choose) 23. [Product Mechanics & Exit Costs](#product-mechanics-exit-costs) 24. [Mortgage Calculators](#mortgage-calculators) ### Rates & products — related reads Fixed, tracker, discounted variable and LTV pricing. - [Fixed vs tracker (decision framework) A practical framework for choosing between fixed and tracker in 2026. ](/fixed-vs-tracker-mortgage) - [Tracker vs fixed (rates view) How SONIA, swaps and Bank of England base-rate moves shape the choice. ](/tracker-vs-fixed-mortgage) - [85% LTV mortgages The mid-tier LTV band where most working buyers find their best rates. ](/mortgage-deals-85-ltv) - [60% LTV mortgage The lowest-rate LTV band — when the extra deposit is genuinely worth it. ](/60-loan-to-value-mortgage) - [Discounted variable mortgage How discounted variable products work and when they beat fixed or tracker. ](/discounted-variable-mortgage) Explore the hubs [Mortgages explained](/mortgages)[Remortgages](/remortgages)[Buy-to-let mortgages](/buy-to-let)[Bad credit mortgages](/bad-credit-mortgages)[Mortgage calculators](/mortgage-calculators)[All mortgage guides](/mortgage-guides)[Find a mortgage broker](/find-a-mortgage-broker) ## Key takeaways - Fixed mortgage rates are priced off SONIA swap rates, not directly off Bank of England base rate. - Tracker mortgage rates move in lockstep with base rate plus a fixed margin. - Base rate rose from 0.10% in December 2021 to 5.25% by August 2023 — the sharpest UK tightening in four decades. - Swap markets price in expected future rate moves, meaning fixed rates often anticipate cuts before they happen. - In mid-2026, markets are pricing two to three further 0.25% cuts — already baked into today's fixed-rate deals. - Understanding the pricing mechanism helps you evaluate whether today's rate differential is fair value for certainty. ## How fixed mortgage rates are built Want a vetted broker to help with How fixed mortgage rates are built? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) When a lender offers you a 5-year fixed mortgage at, say, 4.22%, that rate does not come from thin air. It is constructed from several layered components, the most important of which is the 5-year SONIA swap rate. SONIA — the Sterling Overnight Index Average — is the UK's primary benchmark interest rate, inherited from LIBOR after its 2021 retirement. In simple terms, it reflects the average rate at which major financial institutions lend to each other overnight using sterling. Banks that write fixed-rate mortgages face a structural problem: they are committing to receive a fixed rate from a borrower for five years, but their underlying funding costs fluctuate. To manage that risk, they enter into interest rate swap contracts — agreements to exchange a fixed rate stream for a floating one. The cost of those swaps, expressed as the SONIA swap rate for the relevant term, becomes the floor beneath fixed mortgage pricing. The lender adds a margin for their costs and profit, product fees are amortised, and the headline rate you see on a comparison site emerges. The crucial implication of this mechanism is that fixed mortgage rates respond to changes in market rate expectations before base rate itself has moved. When the bond market becomes convinced that the MPC is about to cut, SONIA swap rates fall immediately, and fixed-rate mortgage pricing falls with them — sometimes weeks before the MPC votes. This is why borrowers sometimes notice that fixed rates have already improved by the time an expected cut is formally announced. ## How tracker mortgage rates are built Rates & products · keep reading - [Fixed vs tracker (decision framework) A practical framework for choosing between fixed and tracker in 2026. ](/fixed-vs-tracker-mortgage) - [Tracker vs fixed (rates view) How SONIA, swaps and Bank of England base-rate moves shape the choice. ](/tracker-vs-fixed-mortgage) Browse the full hub: [Mortgages explained](/mortgages) Want a vetted broker to help with How tracker mortgage rates are built? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) Tracker mortgages are considerably more straightforward in their construction. The lender sets a margin — for example, 0.79 percentage points — and charges you base rate plus that margin as your pay rate. The margin is contractually fixed for the life of the product or the initial term; only the base rate component moves. There is no swap pricing involved, no forward-looking market expectation built into the rate, and no forward rate exposure for the lender, because the risk of rate movements is passed directly to the borrower. This structural simplicity is why trackers tend to look expensive relative to fixes when markets expect rates to fall. The lender is not trying to profit from a rate view; they are simply passing base rate through with a margin. When swap markets are pricing in significant cuts, those anticipated reductions are already embedded in fixed rates — making fixes look cheap relative to where the tracker will go once cuts materialise. Conversely, when markets expect rates to rise, the tracker starts cheap because the future rises haven't landed yet. ## The UK rate cycle: 2021 to 2026 Want a vetted broker to help with The UK rate cycle: 2021 to 2026? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) To understand current mortgage pricing, it helps to walk through what has happened to base rate and swap rates over the past four years, because much of today's market psychology was shaped by that extraordinary period. In December 2021 the Bank of England base rate stood at 0.10% — a level held since the early days of the pandemic. Inflation was beginning to stir, driven initially by supply-chain bottlenecks as the global economy reopened, but the MPC's initial response was cautious. The first rise, to 0.25%, arrived at the December 2021 meeting, surprising some observers who expected inaction. What followed was the sharpest tightening cycle the UK had experienced in over four decades. Russia's invasion of Ukraine in February 2022 sent energy prices surging across Europe, and UK CPI inflation reached a peak of 11.1% in October 2022 — a forty-one year high. The MPC responded aggressively, raising base rate at every meeting through 2022 and into 2023. By August 2023 it stood at 5.25%, having risen from 0.10% in under twenty months. Swap markets were running ahead of base rate throughout this period. By the end of 2022, 2-year SONIA swaps were pricing rates well above 5%, which is why 2-year fixed mortgage rates briefly exceeded 6% — and in the immediate aftermath of September 2022's mini-Budget, briefly touched 6.5% for some products. Borrowers who took 5-year fixes in 2020 at rates below 2% were watching those deals end and facing a three-times higher rate on renewal. The first cut arrived in August 2024, when the MPC voted by a narrow majority to reduce base rate by 0.25% to 5.00%. Further cuts followed through 2024 and into 2025, with base rate reaching 4.00% by early 2026. The cutting cycle has been cautious by historical standards, partly because UK services inflation and wage growth remained stickier than the MPC hoped. That caution is reflected in current swap pricing. ## Where swap markets are positioned today Rates & products · keep reading - [85% LTV mortgages The mid-tier LTV band where most working buyers find their best rates. ](/mortgage-deals-85-ltv) - [60% LTV mortgage The lowest-rate LTV band — when the extra deposit is genuinely worth it. ](/60-loan-to-value-mortgage) Browse the full hub: [Mortgages explained](/mortgages) Want a vetted broker to help with Where swap markets are positioned today? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) As of mid-2026, with base rate at 4.00%, SONIA swap markets are pricing roughly two to three additional 0.25% cuts over the following eighteen months, implying a base rate of approximately 3.25%–3.50% by the end of 2027. That expectation is baked into today's fixed-rate mortgage pricing. What this means in practice: a 5-year fix at 4.22% today is not simply reflecting today's base rate of 4.00%. It is reflecting the market's view that base rate will average somewhere in the 3.50%–4.00% range over the next five years. If that forecast is accurate, the fix and a tracker end up roughly equivalent in total cost over the period. If cuts arrive faster and deeper — say, base rate falling to 2.75% by 2028 — the tracker materially outperforms the fix. If the cutting cycle stalls, or if a fresh inflationary shock forces rates back up, the fix materially outperforms. This is the honest framing of the fixed vs tracker choice in 2026: not "will rates fall?" (markets already expect them to), but "will they fall faster and further than the consensus embedded in today's swap pricing?" ## What has driven rates lower in 2025 and 2026 Want a vetted broker to help with What has driven rates lower in 2025 and 2026? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) Several forces have contributed to the easing cycle that began in mid-2024. UK CPI inflation returned to within touching distance of the 2% target by mid-2024, removing the MPC's primary justification for holding rates at 5.25%. GDP growth remained sluggish — the UK flirted with technical recession in late 2023 and delivered only modest expansion through 2024 — which increased the economic argument for looser monetary policy. Global factors also matter for UK mortgage pricing. US Federal Reserve policy affects sterling/dollar dynamics and indirectly influences SONIA swap pricing. When the Fed shifted toward an easing posture in late 2024, UK gilt yields eased alongside US Treasuries, pulling SONIA swaps lower and giving lenders room to reduce fixed-rate pricing. The interconnectedness of global bond markets means that what happens at the Federal Reserve on a Wednesday afternoon in Washington can affect the 5-year fixed rate you are quoted on Thursday morning in Birmingham. ## Reading today's rate table through a market lens Rates & products · keep reading - [Discounted variable mortgage How discounted variable products work and when they beat fixed or tracker. ](/discounted-variable-mortgage) - [80% LTV mortgages Rate landscape, lender panel and whether 80% is the sweet spot. ](/80-ltv-mortgages) Browse the full hub: [Mortgages explained](/mortgages) Want a vetted broker to help with Reading today's rate table through a market lens? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) With that context in place, the current rate table looks rather different from how it might appear at first glance. When you see a 5-year fix at 4.22% sitting below a 2-year tracker at 4.79%, the gap is not a mystery. The 5-year fix is cheap relative to base rate because it already embeds the anticipated cuts. The tracker looks expensive because it starts at base plus a margin — it hasn't benefited from those cuts yet, and it won't until they arrive. The decision is therefore about timing and conviction. If you believe cuts will arrive broadly as markets expect, a fix offers slightly cheaper overall cost with certainty baked in. If you believe cuts will arrive faster, deeper, or both, a tracker captures that upside. And if you believe the cutting cycle will stall — perhaps because services inflation remains elevated or a global shock reverses the trajectory — the fix looks the clear winner. You are not making a binary judgment on a single outcome; you are assessing which distribution of outcomes you are willing to accept. ## The base rate outlook and what to watch Want a vetted broker to help with The base rate outlook and what to watch? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) Several indicators are closely watched by market participants as leading signals for MPC decisions, and therefore for swap rate movements. UK average earnings growth in excess of 4–5% annually is generally viewed as inflationary and supportive of a higher-for-longer base rate. CPI services inflation — which strips out volatile energy and goods prices — has been a particular concern for the MPC and a key datapoint to monitor. Labour market slack, as measured by the unemployment rate and vacancy levels, rounds out the domestic picture. Externally, European Central Bank decisions and US Fed signals ripple into UK swap markets quickly. Any sign that the global easing cycle is stalling tends to lift SONIA swap rates and therefore fixed mortgage pricing. Conversely, weaker-than-expected global growth data tends to bring swaps lower and give lenders room to cut fixed rates. For borrowers who are actively tracking the market ahead of a remortgage, these are the datapoints worth watching. ## A brief note on variable rate products Rates & products · keep reading - [Fixed rate 2 or 5 years Decision framework for choosing between a 2 or 5-year fix in 2026. ](/fixed-rate-mortgage-2-or-5-years) - [85% LTV mortgages The mid-tier LTV sweet spot — 2026 rates, lenders and deposit maths. ](/85-loan-to-value-mortgages) Browse the full hub: [Mortgages explained](/mortgages) Want a vetted broker to help with A brief note on variable rate products? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) Beyond fixed rates and trackers, lenders also offer standard variable rate (SVR) products and discount variable mortgages. SVR products are set entirely at the lender's discretion — they are not contractually linked to base rate — and tend to be the most expensive rate a lender charges. Discount mortgages offer a margin below SVR and share the same weakness: they can move without a corresponding base-rate move if the lender chooses to adjust SVR. Neither product is generally recommended as a deliberate choice; they are most often the rate a borrower reverts to when a deal ends and they haven't yet remortgaged. ### Pros - Fixed rates already price in expected cuts, meaning they can look competitive against trackers from day one. - Tracker rates respond automatically to every MPC cut — no remortgage needed to capture the benefit. - Understanding swap pricing helps borrowers identify when fixed rates represent unusually good value. - Falling swap rates mean fixed-rate pricing can improve even before base rate is formally cut. - Both product types are available across a wide range of LTV bands and income profiles. ### Cons - Fixed rates can look expensive in hindsight if cuts arrive faster than swaps priced. - Tracker payments rise immediately when base rate rises — no lag or protection. - SVR reversion rates at deal expiry are almost always significantly higher than the initial rate. - Swap market expectations can be significantly wrong — as the 2022 mini-Budget demonstrated. - Short-term swap-rate volatility sometimes causes lenders to withdraw or reprice products within days. Vetted UK Broker Match ### Speak with a vetted mortgage broker about understanding fixed and tracker mortgage pricing Free, no-obligation introduction to an FCA-regulated adviser with experience in your specific scenario. We've done the due diligence so you don't have to. - FCA-regulated only - Typical reply in 1 working day - No upfront fees [Match me with a broker](/find-a-mortgage-broker) ## Why market context doesn't make the decision for you Want a vetted broker to help with Why market context doesn't make the decision for you? Free FCA-regulated introduction. We carefully check the broker matches your scenario — no pressure, no upfront fees. [Match me with a broker](/find-a-mortgage-broker) Even with a thorough understanding of swap rates and base-rate cycles, the market context alone does not tell you which product to choose. That depends on your circumstances — your income stability, payment headroom, time horizon and risk tolerance. What the market context does is help you evaluate whether today's pricing looks reasonable, whether a current fixed rate represents good value relative to the cuts that are already expected, and whether a tracker's day-one cost disadvantage is likely to erode quickly given the rate path markets are pricing. A whole-of-market broker with access to live swap data and the full range of lender pricing is well placed to translate market conditions into a specific recommendation for your mortgage. The information in this article is for general educational purposes only and does not constitute personal financial advice. We are not authorised by the Financial Conduct Authority to make personal mortgage recommendations. Your home may be repossessed if you do not keep up repayments on your mortgage. ## Frequently asked questions ### What are SONIA swap rates and why do they affect my fixed mortgage? ### Why did fixed mortgage rates rise so sharply in 2022 and 2023? ### How does the Monetary Policy Committee affect tracker mortgage rates? ### Are current fixed rates already pricing in future base rate cuts? ### What drove base rate to its post-2008 peak in 2023? ### If the Bank of England cuts rates, will my fixed rate come down too? ## Related guides [ ### Decision Framework: Which to Choose A personal circumstances framework for the fix vs tracker decision. Read guide ](/fixed-vs-tracker-mortgage)[ ### Product Mechanics & Exit Costs ERCs, collars, porting and real cashflow comparisons. Read guide ](/tracker-vs-fixed-mortgage)[ ### Mortgage Calculators Model your payments across different rate scenarios. Read guide ](/mortgage-calculators) First Rung Now Independent UK mortgage education and broker matching. We don't sell mortgages — we help you understand them, then connect you with vetted advisers. Brokers are FCA-regulated [hello@firstrungnow.com](mailto:hello@firstrungnow.com) ### Hubs - [Mortgages](/mortgages) - [Remortgages](/remortgages) - [Buy To Let](/buy-to-let) - [Bad Credit Mortgages](/bad-credit-mortgages) - [All Calculators](/calculators) - [All Guides](/mortgage-guides) - [Find a Broker](/find-a-mortgage-broker) ### Calculators - [Affordability Calculator](/calculators/affordability) - [Repayment Calculator](/calculators/repayments) - [Loan-to-Value (LTV) Calculator](/calculators/borrowing) - [Remortgage Savings Calculator](/calculators/remortgage) - [First-Time Buyer Calculator](/calculators/first-time-buyer) - [Buy-to-Let Calculator](/calculators/buy-to-let) - [Home Equity Calculator](/calculators/equity) - [Stamp Duty Calculator](/calculators/costs) - [Overpayment Calculator](/calculators/overpayments) - [Rent vs Buy Calculator](/calculators/comparison) - [Self-Employed Calculator](/calculators/specialist) - [Fixed-Rate Expiry Calculator](/calculators/refinance) - [Salary to Mortgage Calculator](/calculators/income) - [Rental Yield & ROI Calculator](/calculators/investment) ### Bad credit & specialist - [Bad Credit Mortgage Checker](/bad-credit-mortgage-checker) - [Poor Credit Mortgage Lenders](/poor-credit-mortgage-lenders) - [Remortgage with Bad Credit](/remortgage-with-bad-credit) - [Bad Credit + Large Deposit](/mortgage-with-bad-credit-but-large-deposit) - [Contractor Bad-Credit Mortgages](/mortgages-for-contractors-with-bad-credit) - [First-Time Buyer Adverse Credit](/first-time-buyer-adverse-credit-mortgages) - [MIP with Bad Credit](/mortgage-in-principle-bad-credit) ### Buy-to-let & bridging - [Best HMO Mortgage Lenders](/best-hmo-mortgage-lenders) - [Holiday Let Mortgages](/holiday-let-mortgages-best-rates) - [Limited Company BTL](/landlord-misconceptions-limited-company-btl) - [BTL Houses Sheffield](/buy-to-let-houses-sheffield-mortgage) - [BTL Interest-Only Calculator](/buy-to-let-interest-only-calculator) - [Bad Credit Bridging Loan](/bad-credit-bridging-loan) - [Bridging Loans for Bad Credit](/bridging-loans-for-bad-credit) ### Rates, rules & circumstances - [Fixed vs Tracker](/fixed-vs-tracker-mortgage) - [Tracker vs Fixed (Rates)](/tracker-vs-fixed-mortgage) - [Does MIP Include Deposit?](/mortgage-in-principle-deposit) - [House Buying Timeline](/house-buying-timeline) - [Two Residential Mortgages](/two-residential-mortgages) - [Parent–Child Joint Mortgage](/parent-child-joint-mortgage) - [Spouse Visa Mortgages](/mortgage-lenders-for-spouse-visa-uk) - [RIO Mortgage Calculator](/retirement-interest-only-mortgage-calculator) - [Overpay Mortgage or Pension](/overpay-mortgage-or-pension) © 2026 First Rung Now. Educational content — not financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage. [About](/about)· [Privacy](/privacy-policy)· [Terms](/terms)· First Rung Now is not a broker. We connect users with FCA-regulated mortgage advisers. [Match me](/find-a-mortgage-broker)[Call Us](tel:03335671185)