The Best Residential Mortgage Rates 02.12.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 02/12/2021

This week a number of lenders increased rates on some of their mortgage deals, including Halifax, Leeds Building Society and Lloyds Bank. Across the charts rates available on deals requiring a high level of equity or deposit are more likely to see rate rises. Saying this, mortgage rates remain highly competitive at the moment, with first-time buyers particularly seeing a more competitive market over recent weeks.

Although we’ve highlighted the lowest rates across our mortgage charts, 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 circumstances.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Yorkshire Building Society 1.12% fixed Two years £1,495 Speak to a broker
TSB 0.94% fixed Three years £995 Speak to a broker
Santander 1.34% fixed Five years £999 Speak to a broker

 

The lowest two-year fixed remortgage rate this week that is available to homeowners in all areas of the UK is from Yorkshire Building Society. This deal offers 1.12% (3.8% APRC) fixed until 29 February 2024 and then reverts to 3.75%. It is available to homeowners with 25% equity in their property. The deal charges £1,495 in product fees and comes with the incentive of a free valuation.

TSB continues to have the lowest three-year fixed remortgage rate this week offering 0.94% (3.0% APRC) fixed until 28 February 2025, after which it reverts to 3.59%. Homeowners need to have 40% equity in their home to apply for this deal. It charges £995 in product fees and has the incentive of a free valuation and legal fees.

In our five-year fixed remortgage chart this week the lowest rate available to homeowners in all areas of the UK comes from Santander. It offers 1.34% (2.7% APRC) fixed until 2 March 2027, which then reverts to 3.35%. Homeowners need to have 40% equity in their property for this deal and it charges £999 in product fees. The deal comes with the incentive of a free valuation up to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuation fees for those in Scotland; along with £250 cashback on completion or free legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Yorkshire Building Society 1.12% fixed Two years £1,495 Speak to a broker
TSB 1.09% fixed Three years £995 Speak to a broker
Nationwide Building Society 1.32% fixed Five years £1,499 Speak to a broker

 

This week, Yorkshire Building Society has the lowest two-year fixed moving home mortgage rate available to home movers in all areas of the UK. Its deal offers 1.12% (3.8% APRC) fixed until 29 February 2024, which then reverts to 3.75%. This deal is available to home movers with a 25% deposit and charges £1,495. It comes with the incentive of a free valuation.

The lowest three-year fixed moving home rate this week is TSB’s deal offering 1.09% (2.3% APRC) fixed until 28 February 2025 and then reverts to 2.59%. This deal requires a 40% deposit and charges £995 in product fees. It comes with the incentive of a free valuation fee.

Nationwide Building Society has the lowest five year fixed rate in our moving home chart this week on a deal available to those in all areas of the UK. Its deal offers 1.32% (2.8% APRC) fixed for five years and then reverts to 3.59%. It is available to home movers with a 40% deposit and who are looking to borrow a minimum of £275,000. It charges £1,499 in product fees and comes with the incentive of a free valuation fee, as well as a £500 green reward cashback for eligible properties.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
Halifax 1.64% fixed Two years £995 Speak to a broker
Platform 2.16% fixed Five years £1,999 Speak to a broker

 

Halifax continues to offer the lowest two-year fixed mortgage rate for those living in all areas of the UK. Its deal offers 1.64% (3.3% APRC) fixed until 29 February 2024, which then reverts to 3.59%. It is available to those with a 10% deposit and who are looking to borrow a minimum of £100,000. It charges £995 in product fees.

The lowest rate in our five year fixed first-time buyer chart this chart comes from Platform, which is part of The Co-operative Bank. The deal offers 2.16% (3.5% APRC) fixed until 28 February 2027 and then reverts to 4.34%. It is available to first-time buyers with a 10% deposit and who are looking to borrow a minimum of £400,000. It charges £1,999 in product fees and comes with the incentive of £250 cashback.

Compare first-time buyer mortgages

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