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The Independent UK
The Independent UK
Business
Vicky Shaw

Mortgage costs ‘shock’ for almost one million as fixed-rate deal ends

CompareMarket FCA LC Mortgages
The average of the lowest remortgage five-year fixed rates across the 10 biggest mortgage lenders was 3.89% in January 2026 - (Getty/iStock)

Nearly one million homeowners face a significant financial adjustment in 2026 as their five-year fixed-rate mortgages, likely secured at ultra-low rates, are due for renewal.

According to data from the Financial Conduct Authority (FCA), obtained by comparison website Compare the Market via a freedom of information request, 971,105 such products were opened in 2021. This figure highlights a potential shock for many households.

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