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The best mortgage rates this week

The best mortgage rates this week

Category: Mortgages
Author: Derin Clark
Date: 15/03/2019

There were rate changes at the top of several mortgage Best Buy charts this week, though unfortunately, many of those were rate rises. Most noticeably the top rate on the two-year fixed rate mortgage chart increased from 1.46% to 1.54% on a 65% loan-to-value (LTV) deal this week, but the top rate in the three-year fixed rate chart dropped by 0.01% from 1.75% to 1.74% at 75% LTV. Another noticeable change happened in the
remortgage chart with the second-best rate increasing from 1.64% to 1.93% (a two-year fixed rate at 80% LTV), though the best rate in this chart remained comfortably below this at 1.59% variable at 60% LTV, despite edging up by 0.01%.

  • The best two-year fixed rate mortgage – 1.54% at 65% LTV
  • The best three-year fixed rate mortgage – 1.74% at 75% LTV
  • The best five-year fixed rate mortgage – 1.96% at 75% LTV
  • The best remortgage deal – 1.59% variable at 60% LTV

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 1.54%
  • first direct 1.65%
  • Sainsbury's Bank 1.79%

The top two-year fixed rate in the mortgage Best Buy chart comes from Yorkshire Building Society, who remained in first place for another week. The rate of 1.54% is fixed until 30 June 2021 and requires a 35% deposit (65% LTV). A completion fee of £995 is charged, however this deal comes with the incentives of a free valuation and £250 cashback. It allows underpayments, overpayments and payment holidays.

first direct moved into second place in the chart this week offering a rate of 1.65% for a 25% deposit (75% LTV). This deal charges a minimum booking fee of £490, which increases depending on the amount borrowed. It allows overpayments and comes with the incentives of a free valuation and for remortgagors free legal fees. The only other rate at the top of the two-year fixed Best Buy chart under 1.80% this week was from Sainsbury's Bank offering a rate of 1.79% on a 25% deposit (75% LTV). This rate is fixed until 30 June 2021 and is completely fee-free, and it covers valuation fees as well. The deal allows underpayments, overpayments and payment holidays.

A selection of the best three-year fixed rate mortgages

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

  • HSBC 1.74%
  • Barclays 1.79%
  • Coventry Building Society 1.89%

The three-year fixed Best Buy chart offered a number of highly competitive rates this week with HSBC retaining the top spot with a rate of 1.74%. This rate is available to those with a 25% deposit (75% LTV) and remains fixed until 31 July 2022. A booking fee of £999 is charged, though the incentive of a free valuation could offset this somewhat, and remortgagors can benefit from free legal fees as well.

Barclays was also offering a competitive rate of 1.79% this week, which remains fixed until 30 April 2022. This deal is available to those with a 25% deposit and charges an arrangement fee of £999. It includes the incentive package of free valuation fees for properties valued at a maximum of £2m and for remortgagors free legal fees. The only other rate at the top of the three-year fixed Best Buy chart that was below 1.90% was from Coventry Building Society offering a rate of 1.89%. This rate is available on a 15% deposit (85% LTV) and remains fixed until 30 June 2022. It charges an arrangement fee of £999, though it includes the incentives of free valuation fees (up to a maximum of £670) and free legal fees for remortgagors. All these deals allow overpayments.

A selection of the best five-year fixed rate mortgages

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

  • Yorkshire Building Society 1.96%
  • Halifax 2.03%
  • Yorkshire Building Society 2.06%
  • HSBC 2.29%

By the end of the week there were only three deals at the top of the five-year Best Buy chart offering a rate under 2.10%, with Yorkshire Building Society sitting in first and third place offering a rate of 1.96% at 75% LTV and 2.06% at 85% LTV. Both these rates are fixed for five years and charge a completion fee of £995. The 1.96% product includes the incentive of £500 cashback, while the 2.06% offers £250 cashback, though both rates offer the added incentive of free valuation fees and allow underpayments, overpayments and payment holidays.

On Friday Halifax took second place in the chart offering a rate of 2.03% on a 20% deposit (80% LTV). This rate is fixed until 31 May 2024 and charges an arrangement fee of £995. This deal allows overpayments and payment holidays.

A selection of the best remortgage deals

In the Best Buy
remortgage chart this week:

  • Skipton 1.59% variable
  • Sainsbury's Bank 1.93% fixed
  • Mansfield Building Society 2.05% discount variable

The remortgage Best Buy chart offers a variety of competitive rates from fixed to variable. Topping the chart this week was Skipton Building Society offering a 1.59% variable rate for two years, available at 60% LTV. The deal includes the incentives of free valuation fees, free legal fees and no arrangement fees, and it also allows overpayments and payment holidays.

Sainsbury's Bank was offering a 1.93% fixed rate at 80% LTV, which was in second place in the Best Buy chart at the end of the week. This rate remains fixed until 30 June 2021 and includes the incentives of free valuation fees, free legal fees and no arrangement fees. It also allows underpayments, overpayments and payment holidays. Third in the chart was Mansfield Building Society offering a 2.05% discounted variable rate for three years. This deal is available at 80% LTV and includes free legal and valuation fees, and it also permits overpayments.

Rates and information correct as at 15/03/2019

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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