Mortgage Comparison - Best Mortgage Rates & Deals | moneyfacts.co.uk

Compare the Best Mortgage Rates

  - Looking for the best mortgage rates? Our mortgage comparison tables give you an instant overview of the top deals from the best mortgage lenders in the market.

 
If you are unsure or would like some advice, then you can speak to our trusted mortgage advisers
Also look at:

Compare the Best Mortgage Deals

Compare
Up to 3 products
side by side
RateAPRCMortgage TypePeriodMax LTVERCSearch all
5480 mortgages
   
 2 Year Fixed  

1.60% reverting to 4.24% 4.0% Fixed30/06/202180%To 30/06/2021Details...
Go to Site
 
  Product Fee: Booking £995 

1.64% reverting to 4.19% 3.7% Fixed2 years75%1st 2 yrs Details...
Go to Site
 
  Product Fee: Booking £490, Upto £400000.00 Advance,Booking £980, £400001.00 - £800000.00 Advance,Booking £1470, £800001.00 - £1000000.00 Advance 

1.90% reverting to 4.74% 4.3% Fixed31/05/202185%To 31/05/2021Details...
Go to Site
 
  Product Fee: Arrangement £495 

1.98% reverting to 4.74% 4.3% Fixed30/06/202175%To 30/06/2021Details...
Go to Site
 
  Product Fee: None 
  Sponsored Products  

2.04% reverting to 4.24% 4.0% Fixed2 years75%1st 2 yrs Details...
Go to Site
 
  Product Fee: None 

1.44% reverting to 4.24% 4.0% Fixed30/06/202160%To 30/06/2021Details...
Go to Site
 
  Product Fee: Booking £995 

3.19% reverting to 4.69% 5.1% Fixed30/06/202185%To 30/06/2021Details...
Go to Site
 
  Product Fee: None 

2.45% reverting to 4.24% 4.0% Fixed30/06/202170%To 30/06/2021Details...
Go to Site
 
  Product Fee: None 

1.94% reverting to 4.99% 4.5% Fixed01/09/202185%To 01/09/2021Details...
Go to Site
 
  Product Fee: Arrangement £995 

2.64% reverting to 5.20% 4.8% Fixed30/06/202180%1st 2 yrs Details...
Go to Site
 
  Product Fee: None 
  
 5+ Year Fixed 

2.29% reverting to 4.24% 3.0% Fixed31/08/202960%To 31/08/2029Details...
Speak to an Adviser
 
  Product Fee: Arrangement £995 
  Sponsored Products  

2.19% reverting to 4.24% 3.5% Fixed5 years75%1st 5 yrs Details...
Go to Site
 
  Product Fee: None 

2.39% reverting to 4.19% 3.4% Fixed5 years90%1st 5 yrs Details...
Go to Site
 
  Product Fee: Booking £490 

2.69% reverting to 4.24% 3.2% Fixed10 years60%1st 10 yrs Details...
Go to Site
 
  Product Fee: Reservation £999 

3.20% reverting to 4.24% 3.9% Fixed30/06/202470%To 31/10/2024Details...
Go to Site
 
  Product Fee: None 

2.09% reverting to 4.99% 3.8% Fixed01/09/202475%To 01/09/2024Details...
Go to Site
 
  Product Fee: Arrangement £995 

2.57% reverting to 4.74% 3.9% Fixed31/05/202490%To 31/05/2024Details...
Go to Site
 
  Product Fee: None 

2.99% reverting to 5.20% 4.5% Fixed30/06/202490%1st 5 yrs Details...
Go to Site
 
  Product Fee: Arrangement £999 

3.89% reverting to 5.69% 5.0% Fixed30/06/202485%To 30/06/2024Details...
Go to Site
 
  Product Fee: None 
  
 Remortgage 

1.63% reverting to 4.24% 3.8% Fixed31/08/202180%To 31/08/2021Details...
Go to Site
 
  Product Fee: Arrangement £999 
  Sponsored Products  

2.79% reverting to 4.24% 3.0% Fixed10 years60%1st 10 yrs Details...
Go to Site
 
  Product Fee: None 

1.59% reverting to 4.19% 3.7% Fixed2 years60%1st 2 yrs Details...
Go to Site
 
  Product Fee: Booking £490, Upto £400000.00 Advance,Booking £980, £400001.00 - £800000.00 Advance,Booking £1470, £800001.00 - £1000000.00 Advance 

2.79% reverting to 4.24% 4.0% Fixed30/06/202170%To 30/06/2021Details...
Go to Site
 
  Product Fee: None 

2.79% reverting to 4.24% 4.1% Fixed30/06/202170%To 30/06/2021Details...
Go to Site
 
  Product Fee: None 

1.89% reverting to 5.20% 4.6% Fixed30/06/202175%1st 2 yrs Details...
Go to Site
 
  Product Fee: None 

1.55% reverting to 4.74% 4.3% Fixed31/05/202175%To 31/05/2021Details...
Go to Site
 
  Product Fee: Arrangement £1495 

Representative Example: £150,000 mortgage over 25 years initially at 2.29% fixed for 36 months reverting to 4.24% variable for term. 36 monthly payments of £657.17 and 264 monthly payments of £794.20. Total amount payable £233,376.92 includes loan amount, interest of £83,327, valuation fees of £0 and product fees of £0. The overall cost for comparison is 3.8% 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 explained


Mortgage comparison can seem like a daunting task – there are thousands of mortgages available, different acronyms to suss out, different types of rate and many rules and restrictions to get your head around. Hopefully, this guide will help you understand everything you need to know about comparing mortgage rates so that you can get the best mortgage deal on your home. 

What are the Best Buy mortgages? 

The Best Buy mortgages you see in our chart are a selection of the best mortgage deals currently on the market. To ensure you get a comprehensive insight into the deals on offer we include mortgages from all UK providers including high street banks, building societies and challenger banks. Our Best Buy mortgages include deals for all types of  product, from fixed to variable and from first-time buyers to remortgages. 

How our mortgage comparison works

Our completely impartial comparison charts provide you with some of the best mortgage deals on the market today. All relevant details are clearly displayed, giving you a quick and simple overview of the options available and helping inform your mortgage comparison. 

Mortgage providers cannot pay us to get to the top of our Best Buy mortgage chart; they’ll only ever be there if they offer the best deals on the market. We don’t just look at rates when deciding on our best deals either, but instead look at a number of different factors, including fees and LTV limits. The above mortgage chart is split into sections so that you can clearly see the best deals for different types of mortgages. 

Why some mortgages are not listed 

When looking at the mortgage comparison chart you may notice that some mortgages are not listed, or are listed lower down the chart even if they offer a lower rate. The reason for this is because we take many factors into consideration when deciding who should be at the top of our Best Buy charts, including any restrictions on who can get the mortgage, which can impact where the mortgage appears in our charts. 

Different mortgage types 

When choosing the right mortgage it is important to first understand the different types of mortgages available. This will help you figure out what sort of mortgage will be suitable for you and your circumstances. 

Mortgage types at a glance

Fixed rate mortgages Variable & tracker rate mortgages Offset mortgages
Good if: You want to know exactly how much your monthly mortgage repayments will be You believe mortgage rates will go down in the foreseeable future You have a decent savings pot you are happy to leave untouched for a period of time
Not so good if: You think mortgage rates might go down, and are worried you’ll end up paying over-the-odds on a fixed rate deal You’re on a tight budget and need to know exactly how much your mortgage repayments will cost you every month You may have to dip into your savings or want to earn savings interest

The table above gives a very broad outline of the different rate types and who they may be good for. 

Fixed rate mortgages 

  • Know how much your monthly repayments will be each month for a set period 
  • Your mortgage repayments won’t increase if the Bank of England’s base rate rises
  • May have higher rates than other types of mortgage 
A fixed rate mortgage typically comes with an initial deal period, usually two to five years (but can be longer; there are an increasing number of 10-year fixed rate mortgage deals available). The main advantage of this initial period is that you’ll know exactly what your monthly mortgage repayments will be for however long it lasts. This will enable you to plan your budget effectively, as you’ll know exactly how much you need to ring-fence for you mortgage repayments each month. 

It’s worth pointing out that fixed rate mortgages tend to come with higher rates than their variable counterparts, but this is often a small price to pay for the security that fixed mortgage interest rates can offer. 

Variable & tracker rate mortgages

  • Rates on these mortgages tend to be relatively low at the outset
  • The amount you pay each month could go up or down depending on wider economic conditions 
Variable and tracker rate mortgages typically have lower rates than their fixed rate counterparts, at least at the point you take the mortgage out, and can therefore be cheaper overall, but they come with far less security as the rates aren’t guaranteed. 

As variable mortgage rates could change at any time, often depending on the Bank of England base rate (or other wider economic conditions), the amount you pay each month may vary. If you need to know the exact amount you’ll be required to pay back each month, then a variable rate mortgage is not for you. If, however, you believe that rates won’t go up, but are prepared for if they do, then a variable mortgage may be a good option for you,  so long as you bear in mind that your mortgage rate may increase and have enough wiggle room in your budget to accommodate fluctuations in your monthly mortgage repayments.

Note: we’re referring here to the variable rate mortgages that can be found in our Best Buys, not those offering the lender’s Standard Variable Rate (SVR). SVRs are usually far higher than anything else on the market and are typically what a borrower reverts to once an initial fixed or discounted rate period ends, which is why remortgaging should always be considered at the end of such a period. 

Offset mortgages 

  • Your savings pot effectively helps to reduce the amount of interest you’ll pay on your mortgage – your savings balance is linked to, or ‘offset’ against, the balance of your mortgage
  • Offset mortgage rates are typically slightly higher than regular deals 
  • You won’t earn interest on any savings you link to your mortgage 
  • You may not be able to withdraw your savings during the mortgage term without incurring a penalty of some sort
Many mortgage lenders have an offset option as part of their range; you can find the available offset mortgages by using our filters accordingly. This type of mortgage might be an option for those with a decent savings pot who are unimpressed by the current rates of savings interest on offer. 

With an offset mortgage, you’re able to use your savings balance to reduce your mortgage payments by ‘offsetting’ it against your mortgage, thereby reducing the balance you pay interest on. You don’t lose your savings in the process, as you would if you were to overpay a mortgage or put down a larger deposit, but instead agree to put your funds aside and forgo any interest you might have otherwise earned on the money. 

For example, if you had a £125,000 mortgage balance and £25,000 in a linked savings account, your monthly mortgage interest would be calculated on £100,000 rather than the full balance, resulting in lower repayments. If you then switch to a different mortgage, you can get the £25,000 back to put in a savings pot that does pay out savings interest. 

Depending on the state of the savings market, and the deal you can get on an offset mortgage, this might reduce your repayments by a greater amount than you would otherwise have been able to earn in savings interest. However, always compare mortgage rates across the whole market before making a decision, as rates may be less competitive in this sector due to its lower profile. 

Loan-to-value ratios

Loan-to-value (LTV) refers to the ratio between the amount you borrow (the loan) and the value of the property you are mortgaging (or remortgaging). LTV is expressed as a percentage. For example, if you have a mortgage of £150,000 on a house that’s worth £200,000, you have a loan-to-value of 75% – with £50,000 as equity. 

The LTV you have will typically determine the rate you’re able to access – generally, the lower the LTV, the lower the rate, so it’s worth saving as big a deposit as possible, particularly if you’re a first-time buyer. 

How much deposit/equity do you have for your mortgage? 

The deposit you have to put down, or equity you already have in your home, plays a crucial part in the best mortgage deals you can get. The 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. You can learn more about loan-to-value in our LTV guide. 

What are you looking to do? 

Move home 

If you’re planning on moving home, you will likely want to get a new mortgage on your new property (some mortgages do allow you to port your current deal to a new property, so it may be worth considering that as an option as well). 

Assuming you’re looking for a new mortgage, you will want to consider the type of rate you’re willing to pay (see above for more details) and your LTV ratio. Once you know what you want and what is available to you, you can start the application process.

Remortgage 

If you have reached the end of your initial fixed or discounted variable period or will do soon, then you may want to avoid paying your lender’s SVR. This is where remortgaging comes in. 
If you look at the best remortgaging deals, you’ll find that they usually pay better rates than an SVR, regardless of whether you are after a fixed or a variable remortgage rate. 

Note that if you’re looking to remortgage before the end of your term, you’ll first want to check the terms of your current mortgage. That’s because your current mortgage provider may charge an early repayment charge (ERC) before they will allow you to change to a different deal. However, this may be worth it if you can significantly reduce your mortgage repayments in the process. 

Don’t forget to check with your own provider when considering remortgage rates, as they may be inclined to make the process easier for you if you stay with them, and may offer lower rates or fees as a result. 

Buy your first home

It’s difficult to get a big enough deposit together to take that first step on the housing ladder, especially as house prices continue to rise, which is where first-time buyer mortgages come in. These deals are typically offered at LTVs of 90-95% to help those who only have enough saved up for a 5% or 10% deposit.

As providers are taking on extra risk by lending at such a high LTV, the rates on offer cannot be considered the best mortgage rates available, but they can be a lifesaver for those looking to buy their first property. Just bear in mind that you’ll be facing higher repayments than if you could cobble together a bigger deposit – if you can, it may be worth waiting until you can secure a lower LTV. Use our mortgage search tool to compare the different rates.

Become a landlord

Buy-to-let (BTL) mortgages are a specialist type of mortgage for those who are or want to be landlords. They have much stricter lending criteria and require even more upfront research than a normal mortgage would warrant, which is why it’s best to seek independent financial advice before choosing to become a landlord. BTL mortgages have their own separate section on this website, with plenty more specific information in our guides.

How do you want to pay for your mortgage?

When deciding how to pay for your mortgage, you generally have one of two options – you can apply for an interest-only deal or opt for full repayment.

Repayment mortgages 

Repayment mortgages are designed so that, by the end of the mortgage term – which can range from 25-35 years and beyond – you’ll have paid off the full balance plus interest, and will have nothing further to pay. Your repayments will be calculated accordingly, and while they’ll be higher than if you had an interest-only deal, you can be confident that you’ll have paid off everything by the end of the term.

You may even be able to shorten your mortgage term if you make overpayments, which will also reduce the amount of interest you pay. Remember, too, that when you pay off more capital you’ll be able to move down the LTV scale, enabling you to secure lower rates, and therefore lower repayments, should you decide to remortgage onto a different product.

Interest-only mortgages 

With this type of mortgage, your repayments are generally lower, but only because you’re not actually repaying the balance of the loan or increasing your equity (though if your property increases in value over this time, then your equity will increase as well; conversely if your property loses value you could find yourself in a sticky situation).

You will only be repaying the interest on the mortgage, which means that at the end of the term, you’ll still be left with the full balance of your initial loan. You will have to come up with a lump sum to pay off your outstanding mortgage debt.

Many people once banked on rising house prices to help them do that – they were hoping to sell their home at a higher price than when they first bought it, which would have theoretically covered their mortgage. However, the financial crisis and rapidly falling house prices meant that often didn’t happen. Similarly, others banked on pensions, endowment funds or savings, but poor investment returns left many far short of the sum needed. This is why such deals are now less common – they’re more often used in the buy-to-let sector, with full repayment the preferred choice for residential mortgages.

Which mortgage is best for you?

Now that you have a general idea of the different types of mortgages available, it’s time to start thinking about how they apply to your specific situation, and which one would be the most appropriate for you. For some of these mortgage types, it’s easy to see which one would be best. If you’re a first-time buyer with a small deposit, a first-time mortgage deal will probably be your best (and only) option. If you have a large savings pot that isn’t gaining you as much interest as you’d like, an offset mortgage might be for you.

A less obvious choice is that between a fixed and a variable rate mortgage. This choice may come down to personal preference – whether you’d prefer to know your exact monthly repayments for the foreseeable future, or are happy with some degree of uncertainty in exchange for the possibility of a lower rate.

However, don’t forget to compare mortgage rates across the board. Sometimes, it may be that fixed mortgage rates are particularly high, in which case it would be better to opt for a variable rate deal which may even decrease. At other times, such as when there is a lot of uncertainty in the market, it may be better to fix your mortgage for as long as possible, to ride out any storms and avoid a variable rate which may increase by more than you’re comfortable paying.

Finding the best mortgage deals

Aside from scouring the Best Buys for the top rates and comparing the best fixed and variable mortgages, borrowers may also want to look at who is providing the best mortgage deals. High street providers may be the ones with the biggest marketing budgets, and therefore generally the ones that draw the eye, but they don’t necessarily offer the best rate mortgages. Sometimes, a challenger is a lot more eager to sign people up, and will offer better deals as a result.

Also remember that the cheapest mortgage rate isn’t always the best one for you. To make a fully informed decision, look not just at the rate and the term, but also how much it will cost upfront in mortgage fees, whether or not the lender will allow you to remortgage if rates become lower in the future, and anything else that you find important. Be on the lookout for incentives, too, but don’t be swayed by them – the true cost of the mortgage, including the rate and fee, is what counts.

Mortgage Calculators

How much will I pay monthly?How much will I pay monthly?
Work out how much your monthly mortgage repayments will be.

Remortgage boost predicted
Remortgage boost predicted

A remortgaging boost could be on the cards as borrowers face increasingly high revert rates, with th... More

The best mortgage rates this week
The best mortgage rates this week

First-time buyers have been in the news this week with the latest research showing that the number o... More

Rising popularity of 40-year mortgages
Rising popularity of 40-year mortgages

Nearly half of first-time buyers would consider taking out a 40-year mortgage to get onto the proper... More

Mortgage providers compete for first-time buyers
Mortgage providers compete for first-time buyers

Latest research reveals that the number of providers offering mortgages to those with a 5% deposit h... More

The best mortgage rates this week
The best mortgage rates this week

The biggest change this week was in the remortgage chart, which saw two new rates taking first and s... More

How to choose an estate agent
How to choose an estate agent

Find out how to choose the best estate agent in this guide. We look at practical ways to shortlist, ... More

Mortgage valuations are not in-depth surveys
Mortgage valuations are not in-depth surveys

Mortgage valuations shouldn’t be confused with a property survey. You should consider having a surve... More

You and your mortgage
You and your mortgage

What is your relationship with your mortgage? Are you repaying it off as quickly as you can – are yo... More

Market-leading 10yr fixed mortgage enters charts
Market-leading 10yr fixed mortgage enters charts

TSB has reduced selected fixed mortgage rates, with its 10-year mortgage rate decreasing by 0.10% an... More

Sainsbury’s reduced 2yr mortgage Best Buy
Sainsbury’s reduced 2yr mortgage Best Buy

Sainsbury’s Bank has amended its range, reducing one of its two-year mortgage deals by 0.08%. This s... More

Leek United tops first-time buyer chart
Leek United tops first-time buyer chart

Leek United BS has released a new two-year discounted variable rate mortgage designed for first-time... More

AA’s first-time buyer mortgage enters chart
AA’s first-time buyer mortgage enters chart

AA Mortgages has launched a new mortgage for first-time buyers (FTBs), which offers a competitively ... More

West Brom’s 2-year FTB mortgage now number 2
West Brom’s 2-year FTB mortgage now number 2

West Brom BS has reduced the rate on its two-year fixed first-time buyer (FTB) mortgage by 0.15%, wh... More

Close