The Best Residential Mortgage Rate 19.03.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 19/03/2021

Mortgage borrowers looking to lock into a new fixed rate deal will be pleased to see that that fixed deals across the charts have remain highly competitive this week. As well as this, new lower rates have entered several of the charts including the remortgage and first time buyer charts.

Saying this, it is important to keep in mind when looking for a mortgage deal that the lowest rate on offer may not be the best deal. Instead, borrowers should consider all aspects of the deal, including features such as incentives, product fees and flexibility, when choosing the best deal for their needs. Those who would like more help when choosing the right deal should consider speaking to a mortgage broker, who will be able to discuss their needs and take this into account when highlighting the best deals available.

The best remortgage rates

Provider Rate Initial rate period Product fee
Platform 1.06% fixed Two years £1,499
Coventry Building Society 1.39% fixed Three years £999
Santander
Platform
Nationwide Building Society
1.24% fixed
1.24% fixed
1.24% fixed
Five years
Five years
Five years
£1,499
£1,499
£1,499

 

The lowest two year fixed remortgage rate this week came from Platform, which offers 1.06% (3.9% APRC) fixed until 30 June 2023, which then reverts to 4.34%. This deal is available at a 60% LTV and charges £1,499 in product fees. It comes with the incentive of a free valuation, no legal fees and £250 cashback.

Coventry Building Society had the lowest three year fixed remortgage rate in our chart this week offering 1.39% (3.7% APRC) fixed until 30 June 2024 and then reverts to 3.99%. This deal is available to those looking for a 50% LTV. It charges £999 in product fees and comes with the incentive of a free valuation to a maximum of £670 and no legal fees.

Three lenders had the lowest rate in our five year fixed remortgage chart this week. Santander offers 1.24% (2.6% APRC) fixed until 2 June 2026, which then reverts to 3.35%. This deal is available to those looking for a 70% LTV and who need a minimum loan of £350,000. It charges £1,499 in product fees and comes with the incentive of a free valuation to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuation fees in Scotland, as well as £250 cashback on completion or no legal fees. Platform offers 1.24% (3.2% APRC) fixed until 30 June 2026, which then reverts to 4.34%. This deal is available at a 60% LTV and charges £1,499 in product fees. It comes with the incentive of a free valuation, no legal fees and £250 cashback. Nationwide Building Society offers 1.24% (2.8% APRC) fixed for five years which then reverts to 3.59%. This deal is available at a 60% LTV and who need a minimum loan of £300,000. It charges £1,499 in product fees and comes with the incentive of a free valuation, as well as £500 cashback on completion or no legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Platform 1.06% fixed Two years £1,499
TSB 1.34% fixed Three years £995
Nationwide Building Society
Platform

1.24% fixed

1.24% fixed

Five years

Five years

£1,499

£1,499

 

The lowest rate in our two year fixed moving home chart this week came from Platform which offers 1.06% (3.8% APRC) fixed until 30 June 2023 and then reverts to 4.34%. This deal is available at a 60% LTV. It charges £1,499 in product fees and comes with the incentive of a free valuation.

TSB had the lowest rate in our three year fixed moving home chart offering 1.34% (3.1% APRC) fixed until, which reverts to 3.59%. This deal is available at a 60% LTV and charges £995 in product fees. It comes with the incentive of a free valuation.

Both Nationwide Building Society and Platform had the lowest rate in the five year fixed moving home chart this week. Nationwide Building Society offers 1.24% (2.7% APRC) fixed for five years, which then reverts to 3.59%. It is available to those looking for a 60% LTV and a minimum loan of £275,000. It charges £1,499 in product fees and comes with the incentive of a free valuation. Platform offers 1.24% (3.2% APRC) fixed until 30 June 2026 and then reverts to 4.34%. This deal is available to those looking for a 60% LTV and charges £1,499 in product fees. It comes with the incentive of a free valuation and £250 cashback.

Compare moving home mortgages

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Platform 2.99% fixed Two years £1,499
Tipton & Coseley Building Society 3.09% fixed Five years £0

 

The lowest rate in our two year fixed first time buyer chart this week that does not have location restrictions comes from Platform which offers 2.99% (4.3% APRC) fixed until 30 June 2023, which then reverts to 4.34%. This deal is available at a 90% LTV and charges £1,499 in product fees. It comes with the incentive of free a valuation and £250 cashback.

Tipton & Coseley Building Society continued to offer the lowest rate in our five year fixed first time buyer chart this week. This deal offers 3.09% (4.3% APRC) fixed until 30 April 2026, which then reverts to 4.94%. Borrowers should be aware that this deal is a guarantee mortgage, so borrowers need a minimum deposit of just 1%, up to a maximum of 10%, with the remaining security of up to the value of 20% being made up of either Tipton’s collateral charge or savings deposit option. It does not charge any product fees.

Compare first-time buyer mortgages

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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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