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The best mortgage rates this week

The best mortgage rates this week

Category: Mortgages
Author: Derin Clark
Date: 29/03/2019

While there has been little movement at the top of the residential mortgage Best Buy charts this week, the rates on offer remained highly competitive. The best rate overall from all charts was in the two-year Best Buy chart offering borrowers a rate of 1.54%. Those looking to lock their mortgage for a longer period could get a rate of 1.74% in the five-year fixed rate Best Buy chart. Borrowers looking to remortgage could find a range of deals on offer, including the top rate in the chart of 1.59% variable.

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%
  • NatWest – 1.60%
  • first direct – 1.64%

The top of the two-year fixed rate Best Buy chart remained the same this week, with Yorkshire Building Society taking the spot offering a rate of 1.54% fixed until 30 June 2021. This deal requires a deposit of 35% – 65% loan-to-value (LTV) – and charges a completion fee of £995. It includes incentives of free valuation fees and £250 cashback. Underpayments, overpayments and payment holidays are allowed with this mortgage. New into the second place this week was NatWest, offering a rate of 1.60% fixed until 30 June 2021. To get this deal, a deposit of 20% (80% LTV) is needed and it charges a booking fee of £995. It includes the incentive of £250 cashback and overpayments are allowed. Dropping into third place in the Best Buy chart this week as a result of NatWest's entry was first direct offering a rate of 1.64% that remains fixed for two years. This deal requires a minimum deposit of 25% (75% LTV) and it charges a booking fee of £490, which increases depending on the amount borrowed. It comes with the incentive of free valuation fees and allows overpayments.

A selection of the best three-year fixed rate mortgages

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

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

Topping the three-year fixed rate Best Buy chart this week was HSBC offering a rate of 1.74% that remains fixed until 31 July 2022. Borrowers need a deposit of 25% (75% LTV) to get this deal and it also charges a booking fee of £999. It includes the incentive of free valuation fees. Barclays also offered a highly competitive rate this week of 1.79% that remains fixed until 30 April 2022. This deal requires a deposit of 25% (75% LTV) and charges an arrangement fee of £999. It comes with the incentive of free valuation fees for properties valued at a maximum of £2m. Completing our top three in our Best Buy chart this week was Coventry Building Society offering a rate of 1.89% that is fixed until 30 June 2022. This deal requires a minimum deposit of 15% (85% LTV) and charges an arrangement fee of £999. It includes the incentive of free valuation fees to a maximum of £670. 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%

Borrowers looking to lock into a longer-term mortgage will find a number of competitive rates in our five-year and over fixed rate Best Buy chart. Topping the chart this week was Yorkshire Building Society offering a rate of 1.96% that is fixed until 30 June 2024. This deal requires a 25% deposit (75% LTV) and charges a completion fee of £995. It includes the incentives of free valuation fees and £500 cashback, while also allowing underpayments, overpayments and payment holidays. Yorkshire Building Society also took third place this week offering a rate of 2.06% fixed until 30 June 2024 on a 15% deposit (85% LTV). All the charges, incentives and flexible features of this deal remain the same as the 1.96% version, expect this deal includes the incentive of £250 cashback. Sitting between the first and third-place deals from Yorkshire Building Society in the Best Buy chart this week was Halifax offering a rate of 2.03% fixed until 31 May 2024. This deal requires a deposit of 20% (80% LTV) and charges an arrangement fee of £995. It permits overpayments and payment holidays.

A selection of the best remortgage deals

In the Best Buy remortgage chart this week:

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

The remortgage Best Buy chart remained competitive this week, with a wide range of deals available to borrowers. The rate topping the chart was 1.59% variable for two years from Skipton Building Society. This deal requires a 60% LTV and allows overpayments and payment holidays. A fixed rate of 1.93% until 30 June 2021 from Sainsbury's Bank was in second place in the Best Buy chart this week. This deal requires an 80% LTV and allows underpayments, overpayments and payment holidays. Both deals include the incentives of free valuation fees, free legal fees and no arrangement fees. Mansfield Building Society took third place offering a 2.05% discounted variable rate for three years for an 80% LTV. This deal charges a completion fee of £300 and a booking fee of £199, however it includes the incentives of free valuation fees and free legal fees. It also allows the flexibility of 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.

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