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Derin Clark

Derin Clark

Online Reporter
Published: 08/03/2019

The big news in mortgages this week was the fact that lending to first and second-time buyers and those remortgaging has increased year-on-year, however, with the current economic uncertainties, borrowers may well be looking to renew their mortgage to get a competitive fixed rate. To help you find the best deal here are the top mortgage rates this week.

A selection of the best two-year fixed rate mortgages

This week the one of the best mortgage packages in the two-year fixed market came from Yorkshire Building Society which offers a 1.46% fixed rate until 31 March 2021 and then reverts to a variable rate of 4.25%. This deal requires a 35% deposit and charges a £995 completion fee. The mortgage allows underpayments, overpayments and allows borrowers to take payment holidays.

Yorkshire Building Society also took a place within our tables, with a mortgage rate of 1.63% fixed until 31 March 2021 and then reverts to a variable rate of 4.25%. To get this mortgage you will need a deposit of 25% and pay a £995 completion fee
. It also offers £500 cashback. Underpayments, overpayments and payment holidays are all available.

Another competitive deal within the top packages this week is from first direct
, with its two-year fixed rate of 1.65%, reverting to a variable rate of 4.19% thereafter. A 25% deposit is required for this mortgage. Booking fees start at £490 for a maximum £400,000 mortgage advance, but the fee is higher for advances above this limit. The deal carries an incentive package of free valuation for all borrowers and free legal fees for remortgage customers. Overpayments are allowed with this mortgage.

A selection of the best three-year fixed rate mortgages

One of the best three-year fixed rate mortgages this week is from
HSBC UK. The bank is offering a 1.75% fixed rate to 30 April 2022 that then reverts to a variable rate of 4.19%. A 25% deposit is required for this mortgage and it charges a booking fee of £999. The deal includes an incentive package for remortgage customers that include legal fees and free valuation. Overpayments are allowed.


Barclays also took a place this week with its fixed mortgage priced at 1.79% until 30 April 2022, which then reverts to 4.24% variable. A deposit of 25% is required and it charges an arrangement fee of £999. An incentive package of free valuation for all borrowers is included for properties valued at a maximum of £2 million and remortgage customers also get free legal fees. This mortgage also allows overpayments.

Also featuring is Coventry Building S
ociety with its fixed rate of 1.89% until 31 March 2022, which then reverts to 4.99% for 23 months, and then 4.75% thereafter. The deal is available to borrowers with a 15% deposit. There is a £999 arrangement fee to pay, and incentive package of free valuation and free legal fees for remortgage customers. Overpayments are permitted with this mortgage.

A selection of the best five-year and over fixed rate mortgages

Yorkshire Building Society offered one of the best long-term fixed rate mortgages this week with a rate of 1.96% until 31 March 2024, reverting to a variable rate of 4.99% thereafter. This mortgage charges a completion fee of £995 and requires a deposit of 25%. An incentive package of free valuation fees and £500 cashback is included. This mortgage allows underpayments, overpayments and allows borrowers to take payment holidays.

Another spot taken this week if from
TSB with its fixed rate mortgage for house purchase customers of 2.04% until 31 May 2024 and then reverts to a variable rate of 4.24%. A minimum deposit of 20% is needed for this deal and borrowers will need to pay an arrangement fee of £995. The deal provides a free valuation and overpayments and payment holidays are allowed.

One other place in our tables taken
this week went to Yorkshire Building Society with its 2.06% fixed rate for house purchase customers with an end date of 31 March 2024, reverting to a variable rate of 4.99% thereafter. A minimum deposit of 15% is required and a completion fee of £995 is payable. The deal comes with a free valuation
and £250 cashback incentive. Underpayments, overpayments and payment holidays are allowed.

A selection of the best remortgage deals

This week one of the best remortgage deals came from Skipton Building S
ociety which is offering a 1.58% variable rate for two years, reverting to 4.99% variable thereafter. The deal is for remortgage customers at 60% loan-to-value. The deal comes with an incentive package of
free valuation, free legal fees and charged no arrangement fee. Overpayments and payment holidays are allowed.

Another place in our tables taken this week went to Sainsbury's Bank which is offering a rate of 1.62% fixed until 31 March 2021, reverting to 4.49% variable thereafter. The deal is for remortgage customers at 80% loan-to-value. An arrangement fee of £995 is payable but the deal also carries an incentive package of a free valuation and free legal fees. Underpayments, overpayments and payment holidays are allowed with this mortgage.

Mansfield Building S
ociety took a spot in our tables this week with its discounted variable rate deal priced at 2.05% for three years (collared at 1.50% and is discounted by 3.70% from its standard variable rate of 5.75% ). The deal is for remortgage customers at 80% loan-to-value and charges a completion fee of £300 and booking fee of £199. The deal includes an incentive package of free valuation and free legal fees. Overpayments are permitted with this mortgage.

Rates and details are correct at the time of publication (22.02.2019)

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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