Updated 21 September 2026
If your mortgage deal is coming to an end, September’s rate hold is a useful prompt to review your options. Preparing early gives you time to understand what is available and how lenders will assess your income, without having to predict the next interest rate move.
What has changed since July?
The Bank of England announced on 17 September that Bank Rate would remain at 3.75%. Six MPC members supported holding the rate and three preferred an increase to 4%. The Bank highlighted greater risks of inflation rising than in July, while acknowledging that the outlook could change. Its next decision is scheduled for 5 November 2026.
UK CPI inflation reached 3.1% in the year to August, up from 2.9% in July. Motor fuels were the largest contributor to the increase, with airfares also contributing. These are August figures, released in September.
The Bank’s minutes also reported that Brent crude and UK wholesale gas spot prices had risen by 36% and 78% respectively since the period leading up to its July report, using prices at 14 September. These are wholesale market movements, not equivalent increases in household energy bills.
Does a hold mean fixed mortgage rates will fall?
Fixed mortgage pricing is influenced by market interest rates, including swap rates, as well as lender funding costs and competition. A decision to hold Bank Rate does not, by itself, tell us where the next fixed mortgage offers will be priced.
Our view is that it is worth reviewing your options early if your current deal ends within the next six months. That is a planning recommendation, rather than a prediction that every mortgage rate will rise.
You can begin reviewing your mortgage around six months before your current deal ends. Compare a remortgage with another lender against a product transfer with your existing lender, including fees and any early repayment charges.
The point at which you can reserve a new deal depends on the lender and product. We can check the reservation period, offer expiry date and conditions, and whether a different rate could be selected before completion if a suitable option becomes available. Starting a review does not mean you need to complete a switch immediately.
Why preparation matters when your income is complex
For dentists, people who trade as a sole trader or via a limited company, the key question is how a lender will assess the income supporting the application.
We would not treat a Bank Rate hold as a promise that lending criteria will stay unchanged. Instead, an early review allows time to identify the evidence required, resolve questions and check the lender’s criteria at the relevant stage of your application.
If you are a dentist
Your role, working arrangements and business structure all matter. Being an associate or a principal dentist is part of that assessment, rather than the only distinction that counts.
Associate dentists: Whether you trade as a sole trader or via a limited company, we can use your last three months of invoices / remittance payments to evidence your income on an annualised basis. We can review your arrangements and establish which income evidence a suitable lender will need.
Principal dentists: Your accounts, ownership structure and recent trading performance will help determine the available options. Two years of income evidence is a standard requirement at some lenders, although exceptions exist. If updated accounts are due shortly, we can assess whether they could help your application and weigh that against your mortgage deadline.
If you trade via a limited company
For limited company directors and business owners, lender income assessments depend on your shareholding, your salary and dividend structure, and in some cases your company's profit figures.
We can review how your income is structured and investigate which lender approach fits your circumstances. Our mortgage guidance for those who trade via a limited company outlines how we can help.
If you are considering changing how much you draw from your company, speak to your accountant about the tax and business implications and to us about the mortgage evidence required. A company’s accounting year and your personal tax year are not necessarily the same. Taking an additional dividend does not automatically increase the income a lender will accept.
If you have a buy-to-let portfolio
Lenders assess rental income against their interest coverage and stress-rate requirements. These depend on the lender and the type of borrowing.
An early review can help identify potential rental coverage issues and bring upcoming deal expiry dates into one plan. It cannot guarantee that today’s criteria will apply throughout an application or that a future Bank Rate change will automatically alter every lender’s stress tests.
What to do next
- Check your deal expiry date: Allow time to review your options before your current deal ends.
- Gather your income evidence: Depending on your circumstances, this may include pay schedules, contracts, accounts, tax calculations and bank statements.
- Compare the overall cost: Consider your existing lender’s offer alongside alternatives, allowing for product fees, advice fees and any legal, valuation or early repayment costs.
- Explain any planned changes: A change in working arrangements, company income or property plans may affect which mortgage is suitable.
How Sarah Grace Mortgages can help
We help dentists, people who trade via a limited company and clients with complex income understand their mortgage options. Whether you are remortgaging, purchasing a home or reviewing a property portfolio, we can assess your circumstances and explain the next steps.
Contact Sarah Grace Mortgages or call 0203 6333 888.
Frequently asked questions
Should I wait for a cheaper mortgage rate?
Future pricing is uncertain. Reviewing your options early lets you compare the offers available now and understand the consequences of waiting, based on your own deadline and circumstances.
Does starting early mean switching immediately?
No. The review, application and completion are separate stages. We can check the relevant deadlines and any charges before recommending when to proceed.
Can my current earnings be considered if my accounts show a lower income?
Possibly. It depends on your working arrangements, the evidence available and the lender’s criteria. We can investigate the options without assuming that recent earnings will automatically support a larger loan.
Will my existing lender be the best option?
It may be. A product transfer should be considered alongside suitable alternatives, looking at the overall cost and your circumstances.
Sarah Grace Mortgages Limited is authorised and regulated by the Financial Conduct Authority. Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate most forms of Commercial Buy to Let Mortgages and Mortgages to Limited Companies.
