Today’s best 3-year fixed rates, the overlooked middle term.
A genuine alternative when two years is too short and five years too long — best buys across every deposit size, drawn from 40+ lender product books and re-ranked nightly.
| Lender | Initial rate | Monthly | Fixed until | Then | Product fee | |
|---|---|---|---|---|---|---|
| 1 H HalifaxBest rate | 4.37% | £1,371on £250,000 | Sept 2029 | 7.24% | £999 | See full deal → |
| 2 L Lloyds Bank | 4.37% | £1,371on £250,000 | Sept 2029 | 7.24% | £999 | See full deal → |
| 3 L Lloyds Bank | 4.37% | £1,371on £250,000 | 3 yrs | 7.24% | £999 | See full deal → |
| 4 N Nationwide BS | 4.49% | £1,388on £250,000 | 3 yrs | 6.49% | £999Free valuation | See full deal → |
| 5 T TSB Bank | 4.54% | £1,395on £250,000 | Aug 2029 | 7.24% | £995Free valuation | See full deal → |
Monthly payments illustrated on a £250,000 repayment mortgage over 25 years; fees not added to the loan. Rates shown are for comparison — full lender criteria apply.
Three-year fixes sit between the UK’s two dominant terms, and that positioning is both their weakness and their strength. They rarely carry the market’s sharpest headline rates — lenders compete hardest at 2 and 5 years — but they’re genuinely useful when your circumstances have a three-year horizon. A planned house move, a fixed-term employment contract ending, a Help to Buy equity loan becoming repayable, or an existing deal expiring in a way that leaves you wanting alignment: these are cases where the 3-year term earns its place on its own terms rather than as a compromise.
Residential availability at 3 years is meaningfully better than in the buy-to-let market, where lenders tend to cluster around 2 and 5-year products. Most high-street and challenger lenders that are active in residential pricing will quote a 3-year fixed range. The early repayment charge schedule on a 3-year deal typically runs around 3% in year one, stepping down to 1% in year three, so the exit cost if life changes is lower than on a 5-year fix at the same stage.
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