Current UK Fixed Interest Swap Rates

This chart shows data for current UK Swap rates. To get more information move your mouse pointer over the chart.

Further Swap Rates Information

Swap rates allow lenders to acquire a fixed price for funding over a given period of time, usually from 1 to 10 years – although normally 2, 3, 5 and 10 year swap rate periods as they are used to generate fixed rate mortgage products for homeowners, business mortgages and property investors.

Swap rates take into account the money markets view as the most likely average rate over the chosen period, and occasionally can be cheaper than the prevailing rate which will therefore result in a product (by the time the lender has added a margin) that provides the borrower with certainty of mortgage costs of the selected period.

A number of lenders will have complicated swap rate money management plan and will be in a position to run a rolling fixed rate programme. This could be by offering a fix from the day of completion although some might work to a fixed end date which is more transparent to monitor.