The Best Residential Mortgage Rates 08.10.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 08/10/2021

Although some of the lowest rates in the mortgage charts last week are no longer available, the charts have remained highly competitive this week, with sub-1% rates available in all the remortgage and moving home charts. The first-time buyer chart is also becoming more competitive, with a new lower five year fixed rate now available in the chart for those with a 10% deposit.

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  
Santander
HSBC
TSB
0.84% fixed
0.84% fixed
0.84% fixed
Two years
Two years
Two years
£749
£999
£995
Find out more
Find out more
Find out more
Nationwide Building Society 0.89% fixed Three years £999 Find out more
HSBC 0.91% fixed Five years £1,499 Find out more

 

Three lenders have the lowest two year fixed remortgage rate this week. Santander offers 0.84% (3.0% APRC) fixed until 2 January 2024, which reverts to 3.35%. This deal is available to homeowners who own 40% equity in their home – 60% loan-to-value (LTV). It charges £749 in product fees. It comes with the incentive of free valuation fees to a maximum of £1,190 for homeowners in England, Wales and Northern Ireland or £95 towards the valuation fee for those in Scotland, as well as £250 cashback on completion or free legal fees. HSBC offers 0.84% (3.1% APRC) fixed until 31 January 2024, after which it reverts to 3.54%. This deal is available to those who own 40% equity in their home (60% LTV) and charges £999 in product fees. It comes with the incentive of free valuation and legal fees. TSB offers 0.84% (3.2% APRC) fixed until 30 November 2023 and then reverts to 3.59%. It is available to homeowners with 40% equity in their home (60% LTV). It charges £995 in product fees and comes with the incentive of a free valuation and free legal fees.

The lowest rate in the three year fixed remortgage chart this week comes from Nationwide Building Society, which offers 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. This deal is available to homeowners with 40% equity in their home (60% LTV) and charges £999 in product fees. It comes with the incentive of a free valuation, as well as £500 cashback on completion or free legal fees.

HSBC has the lowest rate in the five year fixed remortgage chart this week, offering 0.91% (2.6% APRC) fixed until 31 January 2027 and then reverts to 3.54%. It is available to those who own 40% equity in their home (60% LTV) and borrowers should be aware it comes with a number of opening restrictions, including needing a minimum earned income of £75,000. The deal charges £1,499 in product fees and comes with the incentive of a free valuation and legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial Rate Period Product fee  
Barclays Mortgage 0.86% fixed Two years £999 Go to provider’s site
Nationwide Building Society 0.89% fixed Three years £999 Find out more
Nationwide Building Society 0.94% fixed Five years £1,499 Find out more

 

The lowest rate in the two year fixed moving home chart this week comes from Barclays Mortgage which offers 0.86% (3.2% APRC) fixed until 30 November 2023 and then reverts to 3.59%. This deal is available to those with a 40% deposit (60% LTV) and charges £999 in product fees. It comes with the incentive of a free valuation for properties valued to a maximum of £2 million.

Nationwide Building Society has the lowest rate in the three year fixed moving home chart this week offering 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. It is available to those with a 40% deposit (60% LTV). It charges £999 in product fees and comes with the incentive of a free valuation, as well as a green reward of up to £500 cashback for eligible properties.

In the five year fixed moving home chart the lowest rate this week also comes from Nationwide Building Society, which offers 0.94% (2.6% APRC) fixed for five years, after which it reverts to 3.59%. This deal is available to those with a 40% deposit (60% LTV) and a minimum mortgage loan of £275,000 must be taken. It charges £1,499 in product fees and comes with the incentive of a free valuation, along with a green reward for eligible properties.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
Halifax 1.79% fixed Two years £995 Find out more
Platform 2.16% fixed Five years £1,999 Find out more

 

The lowest rate in the first-time buyer chart this week comes from Halifax, which offers 1.79% (3.4% APRC) fixed until 30 November 2023 and then reverts to 3.59%. This deal is available to those with a 10% deposit (90% LTV) and a minimum mortgage loan of £100,000 must be taken. It charges £995 in product fees.

Platform, which is part of the Co-operative Bank, has the lowest rate in the five year fixed first-time buyer chart this week. It offers 2.16% (3.6% APRC) fixed until 31 December 2026 and then reverts to 4.34%. This deal is available to those with a 10% deposit (90% LTV) and a minimum mortgage loan of £400,000 must be taken. It charges £1,999 in product fees and comes with the incentive of £250 cashback and a free valuation.

Compare first-time buyer mortgages

How to find the best mortgage deal

To find the best mortgage deal it may be worthwhile speaking to a mortgage broker who will have access to all market deals and be able to highlight the best deals for your circumstances.

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