Key takeaways
- Bank Rate is 3.75% after the Bank of England’s decision on 17 September 2026.
- The next decision is due on 5 November 2026. The Budget on 28 October left Stamp Duty unchanged.
- Fixed-rate mortgages follow what markets expect rates to do, so they can move before the Bank does.
- A mortgage offer often lasts around six months, so securing one early protects your rate while your purchase goes through.
- If your fixed rate ends soon, you can usually lock in a new deal months ahead. A remortgage takes about 2 to 4 weeks once your solicitor is instructed.
What did the Bank of England decide?
On 17 September 2026 the Bank of England’s Monetary Policy Committee held Bank Rate at 3.75%. Bank Rate is the rate the Bank pays on money held with it, and it feeds through to what lenders charge. The next decision is due on 5 November 2026.
What interest rates mean for your mortgage
How a decision affects you depends on your mortgage:
- Tracker mortgages move with Bank Rate, usually from the following month.
- Standard variable rates are set by each lender and often, but not always, follow Bank Rate.
- Fixed rates are priced on what markets expect rates to do over the next few years. They can rise or fall before the Bank makes any change, and lenders reprice them often.
A mortgage broker can compare deals across lenders and tell you how long an offer would last.
The Budget on 28 October
The Budget on 28 October 2026 left Stamp Duty unchanged, so the rates in our Stamp Duty guide still apply. It confirmed the Your First Home scheme for first-time buyers of new builds from spring 2027 and cut the Lifetime ISA charge on homes over £450,000 to 20%. Read what Budget 2026 means for Kent home movers.
If you are buying in Kent
- Get a mortgage in principle before you view, so you know your budget and agents take your offer seriously.
- Apply for your mortgage as soon as your offer is accepted. Once the lender issues an offer, your rate is usually held until it expires.
- Instruct a solicitor straight away, so searches and enquiries are done well before the offer runs out. Local search times vary between Kent’s councils.
- Buying a new build? Check that your mortgage offer will last until the home is finished, or ask about an extension.
See our guide to conveyancing for buying a house in Kent.
If your fixed rate is ending
Most lenders let you secure a new deal several months before your current rate ends. You have two options:
- Stay with your lender (a product transfer). This usually needs no legal work.
- Switch to a new lender. You will need a solicitor for the remortgage, and many lenders offer a free legal package. Once instructed, it usually takes about 2 to 4 weeks.
Read more about remortgage conveyancing in Kent.
If you are selling
Your buyer’s mortgage and the speed of the chain matter as much as your price. Instructing a solicitor when you list, and having your title deeds, guarantees and planning papers ready, helps keep a sale moving if rates or the Budget make buyers nervous. See our guide to selling a house in Kent.
FAQs
Interest rates and moving: FAQs
What is Bank Rate now?
3.75%. The Bank of England held it at that level on 17 September 2026. The next decision is due on 5 November 2026.
Will mortgage rates fall after the Budget?
No one can say for certain. Fixed rates follow what markets expect, so they can move before or after the Budget and the next rate decision. A broker can tell you what is available now.
How long does a mortgage offer last?
Often around six months, and sometimes longer for new builds. Check yours, as your solicitor will aim to complete before it expires.
Do I need a solicitor to remortgage?
Only if you switch lender. A product transfer with your current lender usually needs no legal work. Switching usually takes about 2 to 4 weeks once your solicitor is instructed.
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