The Best Residential Mortgage Rates 13 08 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 13/08/2021

The mortgage rate war continued this week, notably with TSB reducing rates on its remortgage deals which resulted in it offering the lowest rate in our two year fixed remortgage chart of 0.84%. Halifax also reduced rates on its moving home deals this week, resulting in it now offering the lowest two year fixed moving home rate of 0.83%.

To help mortgage borrowers get an idea of the competitive rates currently available we’ve highlighted the lowest rates on deals throughout our mortgage charts. When looking at mortgage deals it is important to keep in mind that the lowest rate may not be the best deal. Instead, borrowers should consider the total cost of the mortgage, including product fees, as well as taking into account additional factors such as incentives offered on deals. 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 fee

 

TSB

0.84% fixed

Two years

£995

Speak to a broker

Nationwide Building Society

0.94% fixed

Three years

£999

Speak to a broker

HSBC

0.96% fixed

Five years

£1,499

Speak to a broker

 

The lowest two year fixed remortgage rate this week came from TSB, which offers 0.84% (3.2% APRC) fixed until 30 November 2023 and then reverts to 3.59%. This deal is available to those with 40% equity in their home, 60% loan-to-value (LTV), and charges £995 in product fees. It comes with the incentive of free valuations and no legal fees.

Nationwide Building Society had the lowest three year fixed remortgage rate this week offering 0.94% (3.0% APRC) fixed for three years, after which it reverts to 3.59%. This deal is available to those with 40% equity in their home (60% LTV). It charges £999 in product fees and comes with the incentive of free valuations, as well as £500 cashback on completion or no legal fees.

This week, the lowest five year fixed remortgage rate came from HSBC which offers 0.96% (2.6% APRC) fixed until 30 November 2026 and then reverts to 3.54%. Homeowners must have a minimum of 40% equity in their home (60% LTV) for this deal and it has a number of opening restrictions including needing to earn a minimum of £75,000. This deal charges £1,499 in product fees and comes with the incentive of free valuations and no legal fees.

Compare remortgages

The best mortgage rates for home-movers

 

Provider

Rate

Initial rate period

Product fee

 

Halifax

0.83% fixed

Two years

£1,495

Speak to a broker

Nationwide Building Society

0.94% fixed

Three years

£999

Speak to a broker

HSBC

0.96% fixed

Five years

£1,499

Speak to a broker

 

Halifax had the lowest rate in the two year fixed moving home chart this week offering 0.83% (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 borrowers must take a minimum loan of £250,000. It charges £1,495 in product fees and comes with the incentive of cashback of up to £250 for properties with an Energy Efficiency Band of A or B or a rating of 81 or higher.

The lowest three year fixed moving home rate this week came from Nationwide Building Society which offers 0.94% (3.0% APRC) fixed for three years and then reverts to 3.59%. A 40% deposit (60% LTV) is needed for this mortgage, which charges £999 in product fees. It comes with the incentive of free valuations and a green reward of up to £500 for eligible properties.

HSBC has the lowest five year fixed moving home rate this week offering 0.96% (2.6% APRC) fixed until 30 November 2026 and then reverts to 3.54%. It is available to home movers with a 40% deposit (60% LTV) and has a number of opening restrictions including needing to earn a minimum of £75,000. This deal charges £1,499 in product fees and comes with the incentive of free valuations.

Compare moving home mortgages

The best first-time buyer mortgages

 

Provider

Rate

Initial rate period

Product fee

 

Coventry Building Society

2.15% fixed

Two years

£999

Speak to a broker

Digital Mortgages by Atom Bank

2.74% fixed

Five years

£1,500

Speak to a broker

 

The lowest rate in our two year fixed first-time buyer chart this week came from Coventry Building Society, which offers 2.15% (4.1% APRC) fixed until 30 September 2023, after which it reverts to 3.99%. This deal is available to those with 10% deposit (90% LTV) and charges £999 in product fees. It has the incentive of free valuations to a maximum of £670.

Digital Mortgages by Atom Bank had the lowest five year fixed first-time buyer rate this week offering 2.74% (3.3% APRC) fixed until 30 November 2026 and then reverts to 3.50%. It is available to those with a 10% deposit (90% LTV) and borrowers must take a minimum loan of £145,000. This deal charges £1,500 in product fees and comes with the incentive of free valuations.

Compare first-time buyer mortgages

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