This week has seen only a little movement in terms of the best mortgage rates available. In the two-year fixed rate mortgage chart, the best rate being offered was still 1.54%, while those wanting to fix their mortgage term for longer could again get top rates of just 1.74% in the three-year fixed rate Best Buy chart or 1.89% in the five-year and over fixed rate best Buy chart. The remortgage chart also remained unchanged yet still highly competitive this week, with a rate of 1.43% (variable) topping the Best Buy chart.
A selection of the best two-year fixed rate mortgages
Yorkshire Building Society – 1.54%
NatWest – 1.60%
First direct – 1.64%
There was no movement at the top of the fixed rate mortgage Best Buy charts this week, with Yorkshire Building Society remaining at the top of the two-year fixed rate chart offering a rate of 1.54% on a 35% deposit/equity (65% LTV). This rate is fixed until 30 June 2021 and charges a completion fee of £995. It does however come with the incentives of free valuation and £250 cashback, while also allowing underpayments, overpayments and payment holidays.
NatWest remained in second place in this week's Best Buy chart with a rate of 1.60% on 20% deposit/equity (80% LTV) that remains fixed until 31 October 2021. A fee of £995 is required, but this product includes the incentive of £250 cashback and allows overpayments. Meanwhile, first direct continued in third place with a rate of 1.64% that is fixed for two years for those with a 25% deposit/equity (75% LTV). This deal charges a booking fee of £490, which increases depending on the amount borrowed, but does offer the incentive of fees valuation and, for remortgagors, free legal fees, while also allowing overpayments.
A selection of the best three-year fixed rate mortgages
•HSBC – 1.74%
•Barclays Mortgage – 1.79%
•Yorkshire Building Society – 1.89%
HSBC was again offering the top rate in the three-year Best Buy chart this week with 1.74% on a 25% deposit/equity (75% LTV), which is fixed until 31 July 2022. The product carries a fee of £999, but it includes the incentive of free valuation for all borrowers and free legal fees too for remortgage customers. Barclays Mortgage took second place again this week with a rate of 1.79% on a 25% deposit/equity (75% LTV), which is fixed until 31 July 2022. A fee of £999 is charged, however it includes the incentive of free valuation for properties valued to a maximum of £2m and again, legal fees are free for remortgagors. Both these deals have the flexibility of allowing overpayments too. In third place this week was Yorkshire Building Society offering 1.89% fixed until 30 June 2022 for a 15% deposit/equity (85% LTV). This deal charges a completion fee of £995 but does offer free valuation as an incentive. This product also allows underpayments, overpayments and payment holidays.
A selection of the best five-year fixed rate mortgages
•Santander – 1.89%
•Sainsbury's Bank – 2.01%
•Yorkshire Building Society – 2.10%
As is normal, those wanting to fix their mortgage for a term of five years or more had to compromise with the highest fixed term rates again this week. Santander offered the most competitive rate in this Best Buy chart of 1.89% that is fixed until 2 August 2024. This deal requires a 25% deposit/equity (75% LTV) and charges a fee of £999. It does however include the incentive of free valuation up to £1,190 for all borrowers and free legal fees or £250 cashback for remortgage customers too, as well as permitting overpayments. Sainsbury's Bank was offering a rate of 2.01% that is fixed until 30 June 2024, which put it in second place in the chart this week. This rate requires a 20% deposit/equity (80% LTV) and charges an arrangement fee of £995. However, it includes the incentive of free valuation and allows underpayments, overpayment and payment holidays. Yorkshire Building Society featured strongly in the charts this week and could be found in third place in the long-term fixed rate chart offering a rate of 2.10% for a 15% deposit/equity (85% LTV). This rate is fixed until 30 June 2024 and charges a completion fee of £995. It offers the incentives of free valuations and £500 cashback. Underpayments, overpayments and payment holidays are also allowed.
A selection of the best remortgage deals
•NatWest – 1.43%
•Lloyds Bank – 1.63%
•Mansfield Building Society – 2.05%
NatWest remained at top of the Best Buy remortgage chart this week with their 1.43% variable rate offer. This deal requires a 60% LTV and charges a booking fee of £995. It includes an incentive package of free valuation, no legal fees and £250 cashback and allows overpayments. Also offering a remortgage rate below 2.00% this week was Lloyds Bank offering 1.63% fixed rate until 31 August 2021. This rate requires an 80% LTV and charges an arrangement fee of £999. It offers the incentives of free valuations and no legal fees, while also permitting overpayments and payment holidays. Mansfield Building Society was third in the remortgage Best Buy chart this week offering a discount variable rate of 2.05% for three years on an 80% LTV. This deal charges a completion fee of £300 and a booking fee of £199. It does however include the incentives of no legal fees, free valuation and allows overpayments.
