Mortgages - Best Mortgage Deals | moneyfacts.co.uk

Compare the Best Mortgage Deals

  - Find the best mortgage deals with moneyfacts.co.uk. Our whole of market search & independent best buy tables will help you compare the best mortgage rates available.
 
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Compare the Best Mortgage Deals

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Up to 3 products
side by side
RateAPRCMortgage TypePeriodMax LTVERCSearch all
4667 mortgages
   
 2 Year Fixed  

1.34% reverting to 3.74% 3.5% Fixed2 years75%Details...
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  Product Fee: Reservation £999 
  Sponsored Products  

1.32% reverting to 4.24% 3.9% Fixed31/01/201975%Details...
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  Product Fee: Arrangement £1495 

1.79% reverting to 3.99% 3.6% Fixed30/04/201975%Details...
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  Product Fee: None 

1.32% reverting to 3.75% 3.5% Fixed30/04/201960%Details...
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  Product Fee: Booking £995 
  
 3 Year Fixed 

1.59% reverting to 5.99% 4.9% Fixed31/05/202080%Details...
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  Product Fee: Completion £800, Booking £199 

1.74% reverting to 3.74% 3.3% Fixed3 years70%Details...
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  Product Fee: Reservation £999 

1.94% reverting to 4.54% 4.0% Fixed01/04/202085%Details...
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  Product Fee: Arrangement £995 

2.39% reverting to 3.69% 3.5% Fixed31/03/202090%Details...
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  Product Fee: Booking £999 
  Sponsored Products  

2.79% reverting to 4.24% 3.9% Fixed30/01/202090%Details...
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  Product Fee: None 

1.74% reverting to 3.74% 3.4% Fixed3 years75%Details...
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  Product Fee: Reservation £999 
  
 5+ Year Fixed 

2.29% reverting to 4.54% 3.8% Fixed01/04/202285%Details...
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  Product Fee: Arrangement £995 

2.99% reverting to 3.99% 3.7% Fixed30/04/202290%Details...
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  Product Fee: Booking £199 

2.86% reverting to 5.99% 3.9% Fixed31/05/202780%Details...
Speak to an Adviser
 
  Product Fee: Completion £800, Booking £199 
  Sponsored Products  

3.17% reverting to 4.24% 3.9% Fixed31/01/202290%Details...
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  Product Fee: None 

2.34% reverting to 3.99% 3.4% Fixed30/04/202280%Details...
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  Product Fee: None 

2.48% reverting to 3.75% 3.5% Fixed30/04/202280%Details...
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  Product Fee: Booking £995 

3.09% reverting to 3.69% 3.1% Fixed31/03/202775%Details...
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  Product Fee: None 

2.09% reverting to 3.74% 3.1% Fixed5 years60%Details...
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  Product Fee: None 

1.89% reverting to 3.74% 3.2% Fixed5 years60%Details...
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  Product Fee: Reservation £999 
  
 Remortgage 

1.69% reverting to 4.54% 4.0% Fixed01/04/202065%Details...
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  Product Fee: Arrangement £995 
  Sponsored Products  

1.32% reverting to 4.24% 3.9% Fixed31/01/201975%Details...
Go to Site
 
  Product Fee: Arrangement £1495 

1.89% reverting to 3.74% 3.2% Fixed5 years60%Details...
Go to Site
 
  Product Fee: Reservation £999 
Compare
Last Updated: Friday 20 January 2017 17:47

Representative Example: £150,000 mortgage over 25 years initially at 1.59% fixed for 40 months reverting to 5.99% variable for term. 40 monthly payments of £606.27 and 260 monthly payments of £916.32. Total amount payable £263,993.00 includes loan amount, interest of £112,494, valuation fees of £265 and product fees of £999. The overall cost for comparison is 4.9% APRC representative.

Our team of experts have chosen those mortgages they believe to be Best Buys. A selection of those, for which we have arranged links are shown above, whilst products shown with a yellow background are sponsored products.

Disclaimer: Credit will be secured by a mortgage on your property. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.

 

Mortgages, before you begin your search …

Before you start looking, make sure you’re certain of what you’re looking for – that way you won’t get lost in the forest of mortgage deals out there.

Remember that the mortgage you choose is going to have an impact on your monthly finances for a number of years, so it’s important to shop around for the best mortgage deals.

Make sure you’ve considered the following before starting your mortgage search

What type of mortgage rate is best?

There are two main types of mortgage interest rate:

  • Fixed rates – your payment remains the same throughout a set term
  • Variable rates (this includes discounted and tracker rates) – your payment could go down or up, depending on wider interest rate movements

Fixed rate mortgages can be great if you’d rather know what you’ll be paying, or if you’re on a tight budget and can’t afford for your payment to go up.
Fixed rate mortgage guide.

Variable rate mortgages may be for you if you don’t mind taking the chance of your payment going up. However, if rates go down, you could end up paying much less in interest.
Standard Variable Rate, tracker or discounted mortgage guides.

Variable rate mortgage warningOnly consider a variable rate mortgage if you can afford a payment that’s quite a bit higher than you are quoted at the outset. Variable rates can go up as well as down – your payment could increase by hundreds of pounds later on, so make sure you can cover this.


Repayment or Interest Only?
Most mortgages are set up on a repayment basis which means that you repay the loan and the interest as you go along. This guarantees that the loan is repaid at the end of the mortgage term. With an interest only mortgage you just pay the interest each month but none of the actual loan. So you need a separate method to save up enough to be able to repay the whole loan at the end.

How long should your mortgage term be?

You should aim to set your mortgage term for as short a period as possible as you will not pay as much interest. However, a shorter term does mean higher monthly payments (assuming you have a repayment mortgage). A longer term mortgage will reduce the monthly payments, but mean you pay more overall.

Most fixed or discounted variable rate apply for an initial period. This is typically 2,3 or 5 years, but could be longer. When considering the term you should also think about how long you would like this initial deal period to run for. At the end of this initial term you'll need to find another mortgage to make your repayments as low as possible. This is known as 'remortgaging'. Shorter introductory mortgage rates might be attractive, but remember that your payments will probably increase when the initial deal ends. The shorter your initial term, the more times you'll need to remortgage, potentially paying mortgage fees each time.

Longer term fixed rates have their pitfalls as well as, if rates go down, you could end up paying over the odds for your mortgage, while others enjoy lower rates. Although this is unlikely in the current low interest environment.

How much deposit/equity do you have?

The deposit you have to put down (or equity you already have in your home) plays a crucial part in the best mortgage rates you can get:

Loan to value explanationThe higher the mortgage in relation to the value (or purchase price) of your home (LTV), the greater the risk to the mortgage lender. The greater the risk to the mortgage lender, the higher the rate you’ll pay.

You’ll see that the mortgages in our Best Buy tables all state a maximum LTV – this is the highest possible proportion of borrowing against property price or value that you can have on that mortgage.

Loan-to-value (LTV) guide
.

How much flexibility do you need?

A mortgage that allows you to overpay, underpay, take payment breaks and/or borrow back money is often referred to as a flexible mortgage.

If you think you’ll want to overpay, or to have the option to pay less or suspend your payments later (during a planned sabbatical for instance), you’ll need to make sure your mortgage will allow this.

Another thing to consider, if you’re thinking of moving in the next few years, is a portable mortgage that allows you to take your borrowing from your current home to the next.

A portable mortgage means that, because you don’t have to finish one mortgage and start another one, you can avoid having to pay both an Early Repayment Charge on one mortgage and set up fees on a new one (although there will normally be a porting fee, this will be a lot less that the fees you would have to pay if taking out a new mortgage).

What next?

As you can see, mortgages can be very complicated and we recommend that you use an independent mortgage adviser to get the very best deal for your own personal circumstances.

Best Buys
Compare 2 year fixed rate mortgages
Compare 3 year fixed rate mortgages
Compare 5 year and over fixed rate mortgages
Compare variable and tracker rate mortgages
Compare discounted rate mortgages
Compare buy-to-let mortgages

Tools and help
Search all mortgages
Mortgage repayment calculator
How much can you borrow calculator
Mortgage guides
Mortgage terminology jargon buster

 

 

Mortgage Calculators

Mortgage repayment calculatorMortgage repayment calculator
Work out how much your mortgage repayments will be.

How much can I borrow calculator?How much can I borrow calculator?
Work out what your monthly mortgage payments are likely to be based on how much you want to borrow over the mortgage term.

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2016: the best year for remortgaging since 2009
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New market-leading FTB mortgage

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New 3yr mortgage now number one

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Yorkshire’s new discounted variable mortgage
Yorkshire’s new discounted variable mortgage

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Principality reduces 2yr mortgage rate
Principality reduces 2yr mortgage rate

Principality BS has reduced the rate on its two-year fixed mortgage deal by 0.15%, which sees it ent... More

Tesco Bank improves remortgage deal
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