1.3% of first-timers researching mortgages on Moneyfactscompare.co.uk in July were considering variable or tracker mortgages, compared with just 9.5% in February.
Analysis comparing the 30 days to 2nd April 2026 with the previous month revealed that demand for 2-year fixed rates rose by 13%.
The reductions cover a range of specialist lending segments, such as JBSP, professional, complex prime, standard and specialist BTL, expat BTL and holiday BTL.
As a result of the base rate change, customers on Nationwide’s Standard Mortgage Rate (SMR) will see their rate fall by 0.25%.
The product is aimed at first-time buyers and customers with non-standard income.
Variable and tracker mortgage rates across Virgin Money and Clydesdale Bank are set to fall following the Bank of England's decision to cut the base rate to 4.00%.
CEO Jinesh Vohra calls on mortgage holders to use any rate cut to reduce debt faster, warning of growing risks from long-term borrowing and delayed homeownership.
Yesterday, the Monetary Policy Committee (MPC) voted to lower the Bank of England Base Rate from 4.50% to 4.25%, prompting these changes to mortgage products.
Tom Denman-Molloy of Mansfield Building Society discusses how variable rate lending could be improved for borrowers.
Brendan Crowshaw said: “Our 25% capital repayment allowance is very competitive and designed to help customers take greater control of their mortgage.”
The 2-year variable tracker mortgages at 85% and 90% loan-to-value (LTV) have been reduced by 0.30%.
Now, landlords can borrow up to £20m with a loan-to-value (LTV) of up to 75% at a variable rate of 5.75% (BBR) +1.25%).