Martin Lewis regularly talks about mortgage interest rates and deals for households with Money Saving tips to help reduce mortgage repayments. In this guide, our MPO mortgage experts look at the latest Martin Lewis mortgage rates to help parents to cut their mortgage costs.
How does Martin Lewis help families to reduce mortgage costs?
Martin Lewis provides regular updates, news, and guides about the UK’s mortgage market as well as the wider UK economy. His advice helps millions of families to save money on their regular monthly outgoings, which includes your biggest cost of all, your mortgage repayments. Some of the top mortgage tips from Martin Lewis include getting advice from a reputable mortgage broker, searching online for the latest deals, and checking with your current lender for cheaper mortgage rates.
What does Martin Lewis say about mortgage rates?
Mortgage rates have recently started to increase again as the global economic volatility continues to affect mortgage swap rates for UK homeowners and first-time buyers. Martin Lewis’ team of money saving experts talk about the continuous pressure on the Bank of England to maintain stability to help protect families against rising costs of living in the UK.
Does Martin Lewis recommend getting a mortgage from your bank?
Generally, Martin Lewis recommends seeking advice from a regulated mortgage broker to make sure that you are comparing mortgage rates from the whole market. Getting a mortgage from your bank can be cheaper in some circumstances, but it is always worth getting a broader picture from a mortgage broker.
Should I use the Martin Lewis Best Buy mortgage tool?
The Martin Lewis ‘Best Buy Tool‘ for mortgages provides a range of mortgage rates and deals from a broad panel of the UK’s top mortgage lenders. You may be able to source a cheap mortgage deal through this tool, or you can compare it to similar searches like our own MPO ‘Mortgage Rate Finder‘ to compare the best deals.
Should families speak to a mortgage broker?
Martin Lewis generally does recommend that parents and individuals should consider speaking to a qualified regulated mortgage broker to help them to compare the best rates and deals. Mortgages can be confusing because there are so many different options and making the wrong decision can be extremely costly over time.
Disclaimer: MoneyPeopleOnline is a free independent money saving service to help parents to reduce their everyday outgoings and make the most of their money. We are in no way linked to or affiliated with Martin Lewis or any of his money saving websites, we simply provide useful expert advice to help parents make the most of their cash.
Key Points: Martin Lewis mortgage guide for parents and families September 2026.
- Bank of England base rate: the Bank of England base rate is currently 3.75% which was last reviewed and held at the same rate on Thursday 18th June 2026.
- Parents are a growing share of first time buyers: around one in five first-time buyers is now a parent, often in their mid-30s, which means childcare, school costs and family debts all need to be factored into affordability.
- Martin Lewis’s guides are information, not advice: his MoneySavingExpert content is brilliant at explaining the basics and signposting brokers, but it is not personalised mortgage advice from a regulated adviser.
- Biggest savings come from structure, not just rate: choosing the right term, fixing for an appropriate period, avoiding unnecessary fees and checking overpayment rules often matters as much as squeezing 0.05% off the rate.
- Protection matters for families: life insurance and income protection can be the difference between keeping the family home and losing it if a parent dies or cannot work, so they should not be brushed off as “hard sell”.
- Time saving tools and fee free brokers exist: online best buy tables, comparison tools and fee free brokers can reduce both cost and admin, which really helps when you are balancing work, kids and home life.
This guide walks through Martin Lewis’s core mortgage ideas and then puts them through a family-focused lens, looking at how parents can actually use them in the real world to cut costs, protect the home and still sleep at night.
Martin Lewis mortgage advice for families
Martin Lewis has spent years talking about mortgages on television and via MoneySavingExpert, and his basic message in 2026 will sound familiar to many parents: do not just wander into your bank and accept whatever rate is put in front of you. Getting a quote from your bank or building society is fine, but it should be treated as a starting point that other lenders are asked to beat. For families, that mindset matters, because even a small percentage difference can mean the equivalent of a month of nursery fees or a year of school shoes over a fixed-rate period.
Average 2 year and 5 year fixed rate mortgage
| Deal period | Current average rate | Weekly difference | Annual difference |
|---|---|---|---|
| 2 Year Fixed | 5.08% | -0.11% | +0.55% |
| 5 Year Fixed | 5.07% | -0.11% | +0.55% |
For parents who remember seeing rates under 2%, these averages are painful. However, the trend over the last year has been gently downward, which is one reason Martin Lewis and many brokers are encouraging homeowners to keep an eye on the market rather than simply accepting the first product transfer deal offered by their current lender.
The Bank of England base rate feeds into these figures because lenders price variable and fixed deals based on their own funding costs and expectations of where the base rate will go.
Bank of England and Mortgages Summary
- Current Bank of England interest rate: 3.75%
- Current inflation rate: 2.6%
- Lowest Mortgage rate: 4.33%
- Next Bank of England base rate review: Thursday 17th September 2026
Parents on discounted variable or tracker mortgages should build some breathing space into the family budget in case of future changes, rather than planning monthly spends right up to the wire.
Lowest fixed-rate mortgage deals and what they mean for families
Headline “cheapest” rates are usually for borrowers who tick every box: a big deposit, a squeaky-clean credit file, a stable income and a fairly standard property. That is not the reality for many parents, especially those who have switched jobs after maternity or paternity leave, work part-time, are self-employed, or have used credit cards to bridge cost-of-living gaps.
Even so, it is useful to understand where the very best rates sit, because that sets a benchmark for everyone else:
Lowest 2 year and 5 year fixed-rate mortgages
| Deal period | Current average rate | Weekly difference | Annual difference |
|---|---|---|---|
| 2 Year Fixed | 4.33% | +0.20% | +0.64% |
| 5 Year Fixed | 4.43% | +0.15% | +0.62% |
These figures show that the sharpest price cuts in the past year have been on 2-year fixes, which is why many advisers are revisiting whether shorter fixes may suit some families, especially if they expect base rates to fall further in the next few years. For other households, the security of a 5-year fix still wins, even at a slightly higher rate, because it locks in a predictable payment through primary school years or nursery periods when budgets are tight.
There is also a strong link between deposit size and price. Low loan-to-value deals, where parents have at least 40% equity or deposit, are currently offering some of the most competitive family rates:
Average 2 year and 5 year fixed-rate mortgages (low loan-to-value)
The lowest 2 year and 5-year fixed-rate mortgages are at 60%, which is considered to be the best value for money for borrowers with deposits over 40%.
| Deal period | Loan to Value | Current average rate | Weekly difference | Annual difference |
|---|---|---|---|---|
| 2 Year Fixed | 60% | 4.61% | +0.16% | +0.71% |
| 5 Year Fixed | 60% | 4.63% | +0.16% | +0.61% |
This may look confusing, because the “low LTV” rates above are a bit higher than the earlier “cheapest on the market” table. The simple takeaway for parents is that the deals flashing up in adverts or Best Buy tables are not always the ones each family will actually get, because lenders slice the market in lots of different ways. That is why Martin Lewis tells people to use best-buy tools for a rough sense of the market, then drill into the detail with a broker.
Parents are now a big part of the first-time buyer market
Mortgage data shows how family life has shifted. A survey from a major high street bank suggested that roughly one in five first-time buyers in the UK is now a parent, up from one in ten a decade ago, and the average age of a first-time buyer has moved from around 32 to about 36. That means many “first timers” are not carefree young professionals but mums and dads with prams, pricy childcare, and maybe an old car or personal loan in the mix.
For these families, the traditional advice about maxing out borrowing because “incomes will rise later” is less comforting than it used to be. Career breaks, flexible working and childcare costs can flatten income growth for years, so following Martin Lewis’s basic rule about affordability, never stretching to the absolute limit that a lender offers, is particularly important.
Martin Lewis’s 60-second mortgage summary for families
MoneySavingExpert’s “cheap mortgage finding” content is packed with detail, but the spirit of it fits neatly into a quick family-focused checklist:
- Use online tools to get an idea of current rates, but do not treat them as gospel.
- Speak to at least one reputable whole-of-market broker and feel comfortable asking basic questions.
- Compare deals from both brokers and direct-only lenders where possible.
- Read the paperwork slowly, ask for plain English summaries, and push back on anything you do not understand.
- Plan for insurance alongside the mortgage so that the home is protected if something serious happens.
Mortgages are complex and emotionally loaded, especially if there are children relying on the roof over their heads. It is completely normal for parents to feel overwhelmed here, which is why using Martin Lewis’s guides as a starting point and then leaning on qualified advice often strikes the best balance.
Step 1: Using online mortgage tools without getting lost
Martin Lewis suggests starting with a quick online search. In reality, many parents discover that these “10-minute” tools take a lot longer once you start digging out payslips, childcare invoices and credit card balances. Online searches also tend to work best for simple, straight-line cases: two employed borrowers with clean credit and no quirks.
Most families will be asked for information such as:
- Mortgage term you are aiming for (for example, 25 or 30 years).
- Household income, including salary, bonuses and benefits.
- Regular outgoings, such as loans, car finance, childcare, maintenance and credit cards.
- Credit history details and any past issues.
- Property value, type and deposit or equity level.
At the end, you will typically see a table of “possible” deals. These are only ballpark results because the systems often cannot cope with things like overtime, self-employed income, gaps in work after having a baby, or complex credit histories. For some parents the results might even be blank or wildly inaccurate.
Should families use Martin Lewis’s mortgage best buy tool?
The MSE mortgage best buy tables are a solid starting point: they give an idea of which lenders are keen at the moment and roughly what rate bands are available for different loan-to-values. However, they are not tailored to the daily reality of a household budget with school dinners, kids’ clubs and holiday care to pay for, so parents should treat them as a quick filter rather than a final answer.
Other comparison tools worth a look
Alongside MSE, parents can check mortgage comparison tools from sites like Money to the Masses, Uswitch or Times Money Mentor. Each one slices the data slightly differently, and seeing the same lenders pop up across several tables can give reassurance that you are looking in the right area.
Why “never just go to your bank” is only half the story
Martin Lewis is famous for the line “never just go to your bank for a cheap deal”, and that is good general guidance, because no single lender is cheapest for everyone. At the same time, many parents find that their own bank can sometimes be competitive and less stressful, because it already holds their current account and can see regular income and bills. A healthy approach is to get a quote from your bank, note the rate and fees, and then challenge a broker to beat or improve on that overall package.
APRC versus APR and why parents should care
Martin Lewis warns not to obsess over the APRC (Annual Percentage Rate of Charge) when comparing mortgages, and that is fair enough, because APRC is based on keeping the same deal for the full mortgage term. In reality most families will remortgage when the fixed or discounted period ends. Even so, the APRC can be handy as a quick comparison tool between two products, as it forces lenders to roll up interest, revert to standard variable rates and fees into one figure. For a clearer comparison many parents prefer to use a simple mortgage calculator, such as the ones on MoneySavingExpert or MoneyHelper, to see the actual monthly payment and total cost over the fixed period they are interested in.
Step 2: Picking a qualified mortgage broker who understands families
For most parents, the real value comes when they move from online tables to a proper conversation with a mortgage broker. Martin Lewis encourages borrowers to talk to brokers and describes “qualified mortgage brokers” as worth their weight in gold. In the UK, anyone giving mortgage advice must hold an approved qualification, such as CeMAP, and be authorised by the Financial Conduct Authority, which should reassure families who might feel nervous about trusting a stranger with their home.
Typical mortgage broker fees in 2026
Most brokers still charge something, although the structure varies. A common flat fee for standard residential cases is between £395 and £595, depending on the region and the complexity of the work involved. Some advisers instead charge a percentage of the loan, often around 1%, and more complex situations such as serious bad credit can push fees closer to £995. Parents should always ask when the fee becomes payable, whether it is refundable if a purchase falls through and what is included, for example, help with paperwork, chasing the lender and talking to the solicitor.
Fee-free mortgage brokers and how they work
Martin Lewis’s site has long partnered with fee-free brokers such as L&C Mortgages, which are paid a commission from lenders rather than charging the client directly. There are also many independent fee-free brokers across the UK, some of which can be found through directories like VouchedFor or Unbiased, or through local recommendations and Facebook community groups. ‘Fee-free’ does not automatically mean better or worse; parents still need to check qualifications, scope of lenders and reviews carefully.
Checking reviews and reputation
Online reviews are one of the easiest ways for busy parents to filter out weaker advisers without endless phone calls. Independent platforms like Trustpilot, Google reviews and Feefo tend to be more reliable than testimonials on a broker’s own site. Look for recent feedback that mentions situations similar to yours, for example, self-employed income, single parents, or buyers with debt, rather than generic “great service” comments.
Why a broker can save parents time and money
The main advantage for parents is not just squeezing out a slightly better rate; it is the time and hassle saved. A good broker will work out which lenders are relaxed about maternity leave, how childcare costs are treated in affordability, and which banks are more flexible with overtime or zero-hour contracts. That guidance can avoid failed applications, repeated credit checks and months of stress, which all have their own financial and emotional cost.
Step 3: Deals outside the broker market
Martin Lewis rightly points out that some lenders do not work with brokers and only offer deals directly to customers. These “direct only” lenders sometimes include household names and often focus on their own current account holders. Parents who are happy to invest a bit more time can check their own bank’s site, a couple of building society websites and the main comparison sites to see if any eye-catching direct deals appear that a broker has not mentioned.
There are a few important caveats for families here:
- Some deals that look great in tables have tight criteria that many parents will not meet, for example very low debt levels or specific types of employment.
- Headline rates can disappear quickly, sometimes within days, especially in a volatile market.
- A lower rate with high fees can end up more expensive than a higher rate with lower fees over the fixed term you care about.
Using a mortgage calculator to compare the total cost over, say, a 2 year or 5 year period is essential before jumping at a “special” direct offer.
Step 4: Reading mortgage paperwork without losing your mind
Martin Lewis’s guides highlight how overwhelming mortgage documents can feel, and parents are rarely reading them in peace. It helps to break the paperwork into two main chunks: the Key Facts Illustration (sometimes called ESIS) and the final mortgage offer.
Key Facts Illustration checklist for parents
The Key Facts Illustration is a standardised document that every regulated UK mortgage must provide. Families should check at least the following:
- All borrower names are spelt correctly and match ID, including middle names.
- Loan amount, term and interest rate match what the broker discussed.
- Monthly payment is affordable once childcare, food, fuel and other family costs are added.
- Fees are clearly shown, including product fees, valuation and any broker fee rolled into the loan.
- Early repayment charges, overpayment allowances and portability rules are clearly understood.
All regulated mortgage products sold in the UK are required to provide a Key Facts Illustration, which is a regulatory document which MUST provide the customer (you) with certain information. You should check this document to make sure that it is correct and store it in a safe place (e.g., a locked filing cabinet).
‘Look out for the Key Facts logo’ and check:
- Your name (spelt correctly and including any middle names)
- Dates are all correct
- Broker details
- Lender details
The mortgage offer and why it matters
The formal mortgage offer usually comes directly from the lender, by email or post. This is the document that solicitors rely on to complete the purchase or remortgage, so it should be double-checked against the Key Facts Illustration. Any differences in loan amount, rate, term or conditions should be raised quickly with the broker or lender, ideally before booking removals or giving notice on a tenancy.
Step 5: Insurance, hard selling and protecting your family home
Martin Lewis is rightly wary of hard selling, especially when estate agents or salespeople push in-house insurance products. At the same time, the regulator expects mortgage advisers to discuss protection, because a mortgage that is affordable today can become impossible if a parent dies, becomes seriously ill or cannot work for a long stretch.
Life insurance for parents
Martin Lewis’s own life insurance content makes it clear that parents with dependants should normally have life cover. The basic aim is simple: if one or both parents died, a policy pays out a lump sum which can be used to clear the mortgage and provide a buffer for the children. Mortgage life policies arranged through brokers can be good value, but it is sensible to compare them with quotes from specialist comparison sites or independent advisers, especially if there are pre-existing medical conditions to consider.
Income protection and keeping the roof over your heads
Old-style mortgage payment protection insurance (MPPI) has largely faded away. Modern short-term or full income protection tends to offer clearer cover if a parent cannot work due to illness or injury. Policies can start from a relatively low monthly cost and can be tailored to start paying out after sick pay ends, which helps protect both the mortgage and wider family bills. Parents should focus on reputable insurers and check exclusions carefully.
Finding the cheapest suitable mortgage for your family
There is no single “Martin Lewis mortgage” that fits every household. Instead, parents can follow a practical process that borrows from his guidance but is tailored to family life:
- Get a rough feel for the market using Best Buy tools and your own bank’s website.
- Shortlist one or two brokers (fee-free or fee-charging) with strong independent reviews.
- Have an honest conversation about income, childcare, debts and plans for more children.
- Ask the broker to show at least two or three options, including different fixed terms.
- Use calculators to check what happens to your budget if rates rise at the next remortgage.
- Build life insurance and, where affordable, income protection into the plan.
With more than 3,000 mortgage products available at any given time, it is unrealistic for most parents to research every option themselves. Delegating the heavy lifting to a trusted broker, while staying engaged enough to question and compare, tends to offer the best blend of cost savings and sanity.
People also ask about Martin Lewis and family mortgages
How can Martin Lewis mortgage tips specifically help parents?
Martin Lewis’s mortgage guidance helps parents in May 2026 by giving a clear framework for shopping around, rather than just accepting the first offer from their own bank. His approach encourages families to compare deals across the wider market, understand how the Bank of England base rate and inflation affect monthly payments, and factor in real household costs such as childcare, school uniforms and food. When parents combine these tips with support from a qualified mortgage broker, they are more likely to find a deal that is not only cheap on paper but sustainable in day to day family life.
Is it ever sensible for parents just to stay with their current bank?
Sticking with your existing bank can make sense for some parents, but it should be an informed choice rather than the default. Your bank may have competitive “product transfer” or loyalty rates and already understands your income pattern, so the process can be simpler and quicker. However, Martin Lewis’s core message still applies: treat your bank’s offer as a benchmark, then ask a whole of market broker to look for alternatives, including other lenders and direct only deals. If, after comparing rates, fees and flexibility, your own bank still comes out on top, you can stay put knowing that you have checked the wider market properly.
Should parents choose a 2 year or 5 year fixed rate in 2026?
The choice between a 2 year and 5 year fix in 2026 depends on how much risk and change a family can handle. Two year fixes have seen sharper price cuts over the past year, which can be attractive for parents who think rates might fall further and are comfortable reviewing their mortgage again quite soon. A 5 year fix usually costs a little more but offers stability through key stages like nursery or early primary school, when budgets are tight and many parents value predictable payments. A broker can model both options using your actual childcare, travel and debt costs so you can see which term fits your plans and stress levels best.
Do parents really need to use a mortgage broker if they follow Martin Lewis’s guides?
Parents can make a good start with Martin Lewis’s guides and comparison tools, but most will still benefit from a broker who can interpret the fine print and lender criteria. Online tables often assume simple, straightforward cases, whereas many families have quirks such as maternity leave, part time work, self employment income or credit card balances built up during the cost of living squeeze. A qualified broker who understands how lenders treat childcare, overtime and gaps in employment can save parents from failed applications, repeated credit checks and unsuitable products, which in practice often saves more money and time than the broker’s fee.
What types of insurance should parents consider alongside a new mortgage?
Parents arranging a mortgage in 2026 should normally review life insurance and income protection at the same time as the loan. Life insurance is designed to pay out a lump sum if a parent dies, which can help clear the mortgage and provide a buffer for children. Income protection or similar cover can support the family budget if illness or injury stops a parent from working for a long period, at a time when mortgage payments and childcare costs still need to be met. Martin Lewis warns against hard selling of poor value policies, so it is sensible to compare broker recommendations with quotes from reputable comparison sites or independent advisers, paying close attention to exclusions and how long benefits would last.
Final thoughts for parents using Martin Lewis mortgage tips
Martin Lewis’s mortgage content remains a powerful tool for cutting through jargon and encouraging families to question the first deal they see. For parents, the most effective approach is to treat his guides as a roadmap, then combine them with a broker who understands how children, childcare, career breaks and real household budgets affect what is truly affordable. Rates may be higher than anyone would like, but with careful shopping around, clear priorities and sensible protection in place, it is still possible to secure a family mortgage that feels sustainable rather than scary.
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