The best residential mortgage rates 01.10.21 | moneyfacts.co.uk

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Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 01/10/2021

There were no changes to the best remortgage deals or moving home mortgage deals available this week. The best rates for first-time buyer mortgages reduced this week.

Although we’ve highlighted the lowest rates across our mortgage charts, mortgage borrowers should always keep in mind that the lowest rate may not be the best, or most cost effective, deal for them. Instead, it is important to consider factors such as product fees and incentives when comparing mortgage deals, as these can have a significant impact on the cost of the mortgage. Consumers unsure of which deal is right for them should consider speaking to a mortgage broker, who will be able to provide advice on the best deal for their individual circumstances.

 

The best remortgage rates

Provider Rate Initial rate period Product rate  
Platform 0.79% fixed Two years £1,499 Speak to a broker
Nationwide Building Society 0.89% fixed Three years £999 Speak to a broker
HSBC 0.91% fixed Five years £1,499 Speak to a broker

This week the best remortgage rates at 60% loan-to-value (LTV) remained the same and from the same lenders.
The best two year fixed rate remortgage is from Platform, part of The Co-operative Bank, with a rate of 0.79% (3.8% APRC) fixed until 31 December 2023. After the fixed rate ends the rate reverts to 4.34%. This deal charges £1,499 in product fees and offers incentives of a free valuation, free legal fees, and £250 cashback. This mortgage is only available via selected intermediaries.
Nationwide Building Society retains the best three year fixed rate remortgage this week. This remortgage has a rate of 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. It has a £999 product fee and comes with free valuation fees, as well as £500 cashback on completion or free legal fees.
The lowest five year fixed remortgage rate this week is again from HSBC. It offers a rate of 0.91% (2.6% APRC) fixed until 30 November 2026, which then reverts to 3.54%. Borrowers wanting this remortgage will need to earn at least £75,000 per annum and hold an HSBC Premier Current Account. There is a large fee of £1,499 and incentives of a free valuation and free legal fees. Those not meeting this criteria could choose the next best rate of 0.94% (2.6% APRC) with a lower fee of £999, also from HSBC. Find out more in our five year fixed rate mortgage chart.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial Rate Period Product fee  
Platform 0.79% fixed Two years £1,499 Speak to a broker
Nationwide Building Society 0.89% fixed Three years £999 Speak to a broker
HSBC 0.96% fixed Five years £1,499 Speak to a broker

Those searching for a new mortgage who are moving home and have at least 40% equity or deposit (60% LTV) will find the best mortgage rates and lenders have remained consistent this week.
The lowest rate for a two year fixed rate mortgage for those moving home is from Platform, part of The Co-operative Bank. This deal offers 0.79% (3.8% APRC) fixed until 31 December 2023 and then reverts to 4.34%. There is a product fee of £1,499 and is only available via selected intermediaries.
Nationwide Building Society has the lowest rate in the three year fixed moving home chart this week. It offers 0.89% (3.0% APRC) fixed for three years, after which it reverts to 3.59%. This deal charges £999 in product fees. It has the incentive of a free valuation fee, along with cashback of up to £500 for eligible properties.
This week, HSBC has the lowest five year fixed fate mortgage for those moving home. This deal offers 0.96% (2.6% APRC) fixed until 30 November 2026, after which it reverts to 3.54%. This deal charges £1,499 in product fees and comes with free valuation fees. Those applying for this mortgage need to hold an HSBC Premier current account.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
Halifax 1.79% fixed Two years £995  
HSBC 2.46% fixed Five years £1,499  

The lowest rate in our two year fixed first-time buyer mortgage chart at 90% LTV comes from Halifax, at 1.79% fixed (3.4%) until 30 November 2023, after which it reverts to 3.59%. This deal charges a £995 product fee.
HSBC reduced its rate on its 90% LTV five year fixed rate mortgage on 23 September to 2.46% fixed until 30 November 2026, after which it reverts to 3.54%.
Its rate is 2.46% fixed (3.2% APRC) until 30 November 2026, after which it reverts to 3.54%. This deal has a product fee of £1,499 and a free valuation. Those applying for this mortgage must have an HSBC Premier current account.

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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