The best mortgage rates this week - Mortgages - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

The best mortgage rates this week

The best mortgage rates this week

Category: Mortgages
Author: Derin Clark
Date: 08/03/2019

This week there were some competitive mortgage deals available in our Best Buy charts, especially within the fixed rate mortgage sector. The lowest fixed rate deals could be found among the shorter-term fixed rates, with the two-year fixed deals offering the most competitive rates in our Best Buy charts, where there were several at a rate of less than 1.70% and the lowest rate on offer was at 1.46%. There were also good deals available in our Best Buy charts for longer-term fixed mortgages, with one five-year deal offering a highly competitive rate of 1.96%. Those looking to remortgage could also find some good rates in our charts this week for both variable and fixed rate deals. The lowest variable rate on offer was at 1.58% while the best fixed rate deal was at 1.64% on a two-year fixed rate.

A selection of the best two-year fixed rate mortgages

In the Best Buy two-year fixed rate mortgage chart this week:

  • Yorkshire Building Society - 1.46%
  • Yorkshire Building Society – 1.63%
  • first direct – 1.65%

At the top of our two-year fixed rate mortgage Best Buy chart was Yorkshire Building Society, offering a fixed rate of 1.46% until 31 March 2021. This deal required a minimum deposit of 35% and included a £995 completion fee, but came with the incentives of free valuation fees and £250 cashback. Yorkshire Building Society also took second place in this week's chart with a rate of 1.63% fixed until 31 March 2021. This deal required a 25% deposit and a completion fee of £995. It included the incentives of free valuation fees and £500 cashback. Both of these deals allowed underpayments, overpayments and payment holidays.

first direct also featured strongly in our Best Buy chart this week with a rate of 1.65% fixed for two years. To apply for this deal, borrowers required a 25% deposit and it charged a minimum booking fee of £490, which increased depending on the amount borrowed. This deal allowed overpayments and included the incentives of free valuation and for remortgage customers free legal fees. The only other mortgage deal to feature in our top 10 Best Buy chart at a rate of 1.90% or less was Post Office Money ® with a fixed rate of 1.90% until 31 May 2021. This mortgage required a 15% deposit and charged an arrangement fee of £495. It included the incentives of free valuation and £500 cashback as well as allowing overpayments.

A selection of the best three-year fixed rate mortgages

In the Best Buy three-year fixed rate mortgage chart this week:

  • HSBC – 1.75%
  • Barclays Mortgage – 1.79%
  • Coventry Building Society – 1.89%

There were three deals offering a rate under 1.90% in our top 10 Best Buy three-year fixed rate mortgage chart this week. Topping the chart was HSBC with a rate of 1.75% fixed until 30 April 2022, which required a 25% deposit and included a booking fee of £999. This deal included the incentives of free valuation and for remortgagers legal fees. Barclays Mortgage also offered a competitive deal this week, with a rate of 1.79% fixed rate until 30 April 2022. To get this deal, borrowers required a 25% deposit and it charged an arrangement fee of £999. It came with the incentives of free valuation for properties valued up to a maximum of £2m and free remortgage legal fees. Coventry Building Society offered the rate of 1.89% fixed until 30 June 2022 from a minimum deposit of 15%. It charged an arrangement fee of £999 and included the incentives of free valuation up to a maximum of £670 and for remortgage customers free legal fees. All three of these deals permitted overpayments.

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

In the Best Buy five-year and over fixed rate mortgage chart this week:

  • Yorkshire Building Society – 1.96%
  • TSB – 2.04%
  • Yorkshire Building Society 2.06%

Three products in our five-year and over fixed rate Best Buy charts this week were offering rates of less than 2.10%. Two of these deals came from Yorkshire Building Society, which offered the rate of 1.96% fixed to borrowers with a deposit of 25% and 2.06% fixed for those with a smaller deposit of deposit of 15% – both rates were fixed until 31 March 2024. Both deals charged a completion fee of £995 and included the incentive of free valuation while the 15% product came with £250 cashback and the 25% deposit deal offered £500 cashback. Another provider that offered a competitive product this week was TSB, at a rate of 2.04% fixed until 31 May 2024. This deal required a 20% deposit and included an arrangement fee of £995. Borrowers were also enticed by the incentive of free valuation fees and it allowed overpayments and payment holiday holidays.

A selection of the best remortgage deals

In the
Best Buy remortgage chart this week:

  • Skipton – 1.58% variable
  • HSBC – 1.64% fixed
  • Mansfield Building Society – 2.05% discounted variable

There were a range of deals on offer in our remortgage Best Buy charts this week including variable, fixed and discounted variable rates. One of the most competitive variable rates came from Skipton Building Society at 1.58% for two-years (collared at 1.58%). This deal required a minimum deposit of 40% and included the incentives of free valuation, free remortgage legal fees and no arrangement fees. It also permitted payment holidays and overpayments. HSBC was offering one of the most competitive fixed rates of 1.64% until 30 April 2021. It charged a booking fee of £999 and required a 20% deposit. This deal allowed overpayments and included the incentives of free legal fees and free valuation. A competitive discounted variable rate was being offered by Mansfield BS at 2.05% for three years (collared at 1.50%). This deal required a 20% deposit and charged a £300 completion fee and a £199 booking fee. It included the incentives of free legal fees and free valuation as well as also allowing overpayments.

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.

Close