How to find the best mortgage rates

Mortgage tips and tricks plus a guide to our new comparison tables

If you’re in the market for a mortgage, whether you’re a first-time buyer and it’s all new to you, or you’re already a homeowner and looking to remortgage, you’ll want to get the best mortgage deal.

Now there are some tricks to this as the top mortgage offer isn’t always the one with the best rate. 

There are other things you need to consider, such as different types of fees, that could push up the cost of your mortgage and actually make it more expensive than one with a higher interest rate.

So I’m going to take you through some important steps you can take to make sure you find the cheapest mortgage you can and I’ll also show you one of our handy new tools that can help you get started.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Compare mortgage deals

The first thing to do is to give yourself a bit of time to compare the best mortgage deals.This can be a bit tricky to do for a couple of reasons.

Firstly, mortgage rates change all the time – so the rate you’ve given one day could be pulled the next. 

And secondly, the rates you’re offered will depend on your individual circumstances. This will include the size of your deposit and how much you want to borrow.

You can see generic rates on bank websites and written about in the press, but these are usually based on average figures – so they’re not much use.

While you might be tempted to just get a mortgage from your bank, for ease, it’s not always the best idea.

You might be with a bank that has a limited range of mortgages that could be more expensive than other lenders, or they might not be quite right for your circumstances. 

So while it might be easier to just go with the lender you know, you could end up paying a lot more in the long-run.

If you’re not sure where to start, we’ve recently introduced a couple of really handy tools as part of our partnership with mortgage broker Tembo, including mortgage comparison tables, to help make getting a mortgage easier and more affordable.

Our mortgage comparison table can show you the best rates in real time, for first time buyers or those looking to remortgage. You just need to enter a few details and you’re away. 

We’ve shown you exactly how to the tables work and what information you need to enter over on the Be Clever With Your Cash Youtube channel. 

Speak to a mortgage broker

Now you’ve got an idea of what deals are out there, you’ll need to get a more accurate projection for your exact circumstances. ,

 Just because you’ve seen a deal, it doesn’t mean you’ll get it. 

You can go directly to the bank, or to get a wider range of options you might want to speak to a mortgage broker. 

A good mortgage broker will have knowledge of different lenders’ criteria and will be able to give you steer as to which mortgage you’re likely to be accepted for. 

They can also help you make a decision on what type of mortgage is best for you, based on your circumstances. 

What you want to be looking for in a broker is one that compares the whole of the market or has a broad range of options.

You’ll also want to check if it charges any fees. Most brokers take commission from the lender once a mortgage is finalised. It’s usually around 0.35% of your loan, but it won’t impact how much you pay. 

Lenders have to tell you what they’ll be paid before you apply and you can also find it in the paperwork you’re sent, known as the Key Facts Illustration, before you make your application. 

But some lenders also charge customers a fee – or it could be instead of the commission. If they do charge a fee, it shouldn’t be more than around 1% of the mortgage. If it’s more, don’t use that broker. 

You should be told about the fees from the start but they can be charged at any point. It’s not a good idea to use a broker who asks for the fees before you complete as if your house sale falls through, you might still have to pay. 

You’ll also want to make sure you’re speaking to a qualified mortgage broker and the firm is regulated by the Financial Conduct Authority. This means that if something goes wrong, maybe you get incorrect advice, you can take your complaint to the Financial Ombudsman Service.

There are plenty of good mortgage brokers out there, though we’ve partnered with Tembo so you can get their advice for free. 

Just click through from our tables to start that process. If it’s a standard mortgage, Tembo, will waive the usual fee for people referred through Be Clever With Your Cash, saving you up to £499.

See if you can beat the broker

Now, our tables compare over 20,000 mortgages from over 100 lenders, but not all mortgage providers work with brokers.

So if you want to be really thorough, your next step is to check deals directly with these lenders, to see if you can beat the rates you’ve been shown on the tables.

There aren’t that many, so it shouldn’t take too long, but they include First Direct, Lloyds Bank, RBS, Yorkshire Bank and Yorkshire Building Society.

If you’ve not used our comparison table, but you might’ve used another one, you’ll also want to compare the deals you’ve found online with the ones your broker’s suggested.

What about if I’m remortgaging?

If you’re remortgaging, you can take these steps to lock in a rate before your deal comes to an end. 

It’s best to start looking for a new deal around six months before your current mortgage ends. 

This is to give yourself enough time to sort out a new deal and avoid that dreaded SVR. Most banks and building societies will also let you secure a new deal three to six months before you actually need it. 

If rates fall in the meantime, you don’t need to go ahead with it and you’ve still got time to apply for a new deal. However, check the small print to find out if you need to pay the fees in advance as you might not get them refunded if you don’t go through with it. 

If you remortgage through our partner Tembo up to six months before your current deal ends and rates drop in that time, you can ask your mortgage broker to reapply for you at no extra cost as part of their free rate checking service.

Important

*Your home may be repossessed if you do not keep up repayments on your mortgage. Be Clever With Your Cash may receive a payment from Tembo Money if you complete a mortgage through the link provided. This will not affect the amount you pay for the service.

This broker fee discount of up to £499 is applicable for standard mortgages and remortgages only, more complex cases including guarantor, buy-to-let, adverse credit, and equity transfer may be liable for a fee. The fee you are required to pay will be clearly outlined by your adviser prior to an application being submitted on your behalf. The offer does not cover any other potential fees that may arise during the mortgage process.

Tembo Money Limited (12631312) is a company registered in England and Wales with its registered office at 18 Crucifix Lane, London, SE1 3JW. Tembo is authorised and regulated by the Financial Conduct Authority under the registration number 952652. Tembo Money was awarded Best Mortgage Broker at the British bank awards in 2022, 2023, 2024 and 2025. Rates are not guaranteed and may change by the time you come to apply. Eligibility criteria may vary by lender.

Our calculator is only an estimate of how much you are able to borrow and does not constitute mortgage advice

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