This month's biggest mortgage news covers:

• Mortgage rates are rising again
• Bank of England expected to hold interest rates
• New Government reforms to speed up home buying
• Why you should never let your mortgage offer expire

         📈 1. Mortgage Rates Are Rising Again

 Several UK lenders have increased rates on selected fixed-rate mortgages.

If you're looking for a mortgage, this means waiting too long could result in paying a higher monthly repayment.

What this means for you

• Compare mortgage deals early.
• Speak to a mortgage adviser before rates increase further.
• Secure a suitable mortgage as soon as you're ready.

  🏦 2. Bank of England Expected to Hold Interest Rates

  The Bank of England is expected to keep the base rate at 3.75% while it continues monitoring inflation.

  Although no immediate increase is expected, future decisions will depend on inflation and economic conditions.

  What this means for you

  • Mortgage rates may remain stable in the short term.
  • Future rate changes are still possible.
  • Buyers should keep reviewing mortgage options regularly.

    🏡 3. Government Plans to Make Home Buying Faster

    The UK Government has announced reforms to make buying and selling homes:

    • Faster
    • Cheaper
    • Less stressful

    The changes aim to:

    • reduce paperwork
    • provide more information upfront
    • reduce failed property transactions
    • speed up completions

    This is especially good news for first-time buyers.

    ⏳ 4. Don't Let Your Mortgage Offer Expire

    Most mortgage offers remain valid for 6–8 months.

    If your purchase is delayed and your mortgage offer expires, you could lose your current interest rate and may have to reapply at a higher rate.

    What you should do

    ✔ Check your mortgage offer expiry date.

    ✔ Contact your mortgage adviser if your purchase is delayed.

    ✔ Ask your lender whether your offer can be extended.

     

    Why This Matters

    The UK mortgage market is changing quickly.

    Whether you're a:

    • First-time buyer
    • Home mover
    • Property investor
    • Homeowner looking to remortgage

    Keeping up with mortgage news can help you save money and avoid unnecessary delays.

    At Mortgage Underground, we simplify mortgage news into easy-to-understand guides so you can make confident decisions.

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    Whether you're buying your first home or remortgaging, staying informed is the first step.

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    References

    1. UK Government. Homebuying shake-up to slash delays, cut costs and stop sales falling through. https://www.gov.uk/government/news/homebuying-shake-up-to-slash-delays-cut-costs-and-stop-sales-falling-through
    2. Reuters. Bank of England expected to keep rates steady despite higher oil and gas prices. https://www.reuters.com/world/uk/bank-england-keep-rate-steady-despite-oil-gas-price-rebound-2026-07-27/
    3. The Sun. Homebuyers risk losing cheap mortgage rates if their mortgage offer expires. https://www.thesun.co.uk/money/39894888/homebuyers-risk-losing-cheap-mortgage-rates-extend-offer/