The Best Residential Mortgage Rates 02 07 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 02/07/2021

The mortgage charts remained highly competitive this week with many lenders reducing rates on their fixed deals. Notably Nationwide Building Society and TSB reduced the rates on some of their moving home fixed rate deals, resulting in both now offering the lowest rates in the five year fixed moving home chart. As well as this, several mortgage lenders launched new deals this week, such as Hinckley & Rugby Building Society launching a range of fixed deals that resulted in its two year fixed deal at a 90% loan-to-value (LTV) having the lowest rate in the two year fixed first-time buyer chart.

Below we’ve highlighted the lowest rates in our mortgage charts, but borrowers should keep in mind that the lowest rate may not be the best deal and should instead consider the total cost of the mortgage, including product fees and incentives, when considering deals. Mortgage borrowers 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 fee

 

TSB

0.94% fixed

Two years

£995

Speak to a broker

HSBC

1.14% fixed

Three years

£999

Speak to a broker

TSB
Nationwide Building Society

1.14% fixed
1.14% fixed

Five years
Five years

£995
£1,499

Speak to a broker
Speak to a broker

 

The lowest rate in the two year fixed remortgage chart this week came from TSB offering 0.94% (3.2% APRC) fixed until 31 August 2023 and then reverts 3.59%. This deal is available at a 60% loan-to-value (LTV) and charges £995 in product fees. It comes with the incentive of a free valuation and no legal fees.

HSBC had the lowest three year fixed remortgage rate this week offering 1.14% (3.0% APRC) fixed until 31 August 2024, after which it reverts to 3.54%. This deal is available at a 60% LTV and charges £999 in product fees. It comes with the incentive of a free valuation and no legal fees.

This week saw both TSB and Nationwide Building Society continuing to have the lowest five year fixed remortgage rates. TSB offers 1.14% (2.7% APRC) fixed until 31 August 2026, which then reverts to 3.59%. It is available at a 60% LTV and charges £995 in product fees. This deal comes with the incentive of a free valuation and no legal fees. Nationwide Building Society offers 1.14% (2.7% APRC) fixed for five years and then reverts to 3.59%. This deal is available at a 60% LTV and requires 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

0.95% fixed

Two years

£1,499

Speak to a broker

HSBC

1.14% fixed

Three years

£999

Speak to a broker

TSB
Nationwide Building Society

1.09% fixed
1.09% fixed

Five years
Five years

£995
£1,499

Speak to a broker
Speak to a broker

 

This week Platform had the lowest rate in the two year fixed moving home chart offering 0.95% (3.9% APRC) fixed until 31 August 2023, after which it reverts to 4.34%. This deal is available at a 60% LTV and charges £1,499 in product fees. It comes with the incentives of a free valuation and £250 cashback.

The lowest rate in the three year fixed moving home chart this week came from HSBC which offers 1.14% (3.0% APRC) fixed until 31 August 2024 and then reverts to 3.54%. It is available at a 60% LTV and charges £999 in product fees. This deal has the incentive of a free valuation.

New lower rates were available in the five year fixed moving home chart this week with TSB and Nationwide Building Society both offering the lowest rate of 1.09%. TSB offers 1.09% (2.7% APRC) fixed until 31 August 2026, after which it 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. Nationwide Building Society offers 1.09% (2.7% APRC) fixed for five years, after which it reverts to 3.59%. It also comes with the incentive of a free valuation, however, requires a minimum loan of £275,000.

Compare moving home mortgages

The best first-time buyer mortgages

 

Provider

Rate

Initial rate period

Product fee

 

Hinckley & Rugby Building Society

2.50% fixed

Two years

£999

Speak to a broker

Digital Mortgages by Atom Bank

3.04% fixed

Five years

£1,500

Speak to a broker

 

The lowest two year fixed first-time buyer mortgage rate available to those in all areas of England and Wales comes from Hinckley & Rugby Building Society, which offers 2.50% (5.1% APRC) fixed for two years and then reverts to 4.24% discounted variable. This deal is available at a 90% LTV and borrowers must take a minimum loan of £100,000. It charges £999 in product fees. There are no incentives for first-time buyers with this deal.

Digital Mortgages by Atom Bank had the lowest rate in the five year first-time buyer chart this week offering 3.04% (3.4% APRC) fixed until 30 September 2026, after which it reverts to 3.50%. It is available at a 90% LTV and requires a minimum loan of £350,001. This deal charges £1,500 and comes with the incentive of a free valuation.

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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