Mortgage rates are the interest charges lenders apply to your borrowing, and they can change with market conditions, the Bank of England’s Bank Rate and your circumstances. A fixed-rate mortgage keeps the same rate for an agreed period, while tracker and other variable deals can rise or fall, affecting your monthly payments. Compare the total cost, including fees and any early repayment charge, rather than looking only at the headline rate. An FCA-authorised mortgage adviser can explain suitable options based on your finances and the lender’s affordability checks.