Mortgages: rates, refinancing, affordability and loan-to-value
A UK mortgage explained through a household budget: deposits and loan-to-value, fixed rates and trackers, repayment examples, deal expiry, switching costs and affordability. The £180,000 mortgage and cost comparisons are hypothetical, not offers. Bank Rate is dated 17 September 2026. Choose for resilience as well as today’s payment.
Educational documentary. Not financial or investment advice.
In these topics
Chapters
- A home loan and a household budget
- Deposit size and 75% LTV
- Why LTV changes the deal
- Fixed rates: certainty for a period
- Trackers: a moving payment
- One loan, three payment scenarios
- When the fixed deal ends
- Stay with the lender or remortgage
- Compare the whole cost
- Affordability: then and now
- Choose for household resilience
Sources and credits
Photo credits (Wikimedia Commons)
- Contemporary UK terraced houses, Nottingham Road, Fairham; photographed 24 September 2026; illustration, not the hypothetical £240,000 home: Aethonatic, CC0 - https://commons.wikimedia.org/wiki/File%3ATerraced_houses_on_Nottingham_Road%2C_Fairham_-_24_September_2026.jpg
- Contemporary UK terraced houses, Broadway, Broadnook; photographed 3 January 2026; illustration, not the hypothetical £240,000 home: Aethonatic, CC0 - https://commons.wikimedia.org/wiki/File%3ATerraced_housing_on_Broadway%2C_Broadnook_-_3_January_2026.jpg
- Contemporary UK semi-detached houses, Brandshill Drive, Fairham; photographed 17 August 2026; illustration, not the hypothetical £240,000 home: Aethonatic, CC0 - https://commons.wikimedia.org/wiki/File%3AHousing_on_Brandshill_Drive%2C_Fairham_-_17_August_2026.jpg
- Contemporary UK semi-detached housing, Wharmby Street, Hugglescote Grange; photographed 18 June 2026; illustration, not the hypothetical £240,000 home: Aethonatic, CC0 - https://commons.wikimedia.org/wiki/File%3A36-37_Wharmby_Street_-_18_June_2026.jpg
Primary sources
- MoneyHelper (Money and Pensions Service): mortgage rates, remortgaging, first-time buyers and affordability; checked 5 October 2026.
Not regulated financial advice.