The Best Residential Mortgage Rates 14.05.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 14/05/2021

Homeowners looking to remortgage can now get a fixed rate deal offering a rate lower than 1%. As well as this, across all the mortgage charts rates continue to be highly competitive, with all the lowest rates currently available in the charts highlighted below.

When looking for a new mortgage deal, borrowers should keep in mind that the lowest rate may not be the best deal for them. Instead, borrowers should consider all aspects of the deal, including product fees and incentives, to ensure that they choose the right deal for their individual financial situation and requirements. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

The best remortgage rates

Provider Rate Initial rate period Product fee  
TSB 0.99% fixed Two years £1,495 Speak to a broker
Coventry Building Society 1.39% fixed Three years £999 Speak to a broker
Santander
TSB
Nationwide Building Society
1.19% fixed
1.19% fixed
1.19% fixed
Five years
Five years
Five years
£1,249
£1,495
£1,499
Speak to a broker
Speak to a broker
Speak to a broker

 

Homeowners looking to remortgage can now get a rate below 1%, with TSB offering 0.99% (3.2% APRC) fixed until 31 August 2023 and then reverts to 3.59% variable. This deal is available at a 60% loan-to-value (LTV). It charges £1,495 in product fees and comes with the incentive of free valuation and no legal fees.

The lowest three year rate in our remortgage chart this week came from Coventry Building Society, which offers 1.39% (3.8% APRC) fixed until 30 June 2024, which then reverts to 3.99% variable. This deal is available at a 50% LTV and charges £999 in product fees. It comes with the incentive of free valuation (up to a maximum of £670) and no legal fees.

Three mortgage providers offered the lowest rate in our five year fixed remortgage chart this week. Santander offers 1.19% (2.6% APRC) fixed until 2 August 2026, after which it reverts to 3.35% variable. This deal is available to those looking for a 70% LTV and requires a £350,000 minimum loan. It charges £1,249 in product fees and comes with the incentive of 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, as well as £250 cashback on completion or no legal fees. TSB offers 1.19% (2.7% APRC) fixed until 31 August 2026 and then reverts to 3.59% variable. This deal is available at a 60% LTV and charges £1,495 in product fees. It comes with the incentive of free valuation and no legal fees. Nationwide Building Society offers 1.19% (2.7% APRC) fixed for five years, which then reverts to 3.59% variable. It is available at a 60% LTV and requires a £300,000 minimum loan. The deal charges £1,499 in product fees and comes with the incentive of free valuation, along with £500 cashback on completion or no legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Halifax
Platform
1.04% fixed
1.04% fixed
Two years
Two years
£1,495
£1,499
Speak to a broker
Speak to a broker
TSB 1.34% fixed Three years £995 Speak to a broker
HSBC 1.21% fixed Five years £1,499 Speak to a broker

 

Both Halifax and Platform had the lowest rates in our two year fixed moving home chart this week. Halifax offers 1.04% (3.2% APRC) fixed until 31 August 2023 and then reverts to 3.59% variable. This deal is available at a 60% LTV and requires a minimum loan of £250,000. It charges £1,495 in product fees. There are no incentives with this deal. Platform, which is part of the Co-operative Bank, offers a rate of 1.04% (3.8% APRC) fixed until 31 August 2023, which then reverts to 4.34% variable. This deal is available at a 60% LTV and charges £1,499 in product fees. It comes with the incentive of free valuation, no legal fees and £250 cashback.

The lowest rate in our three year fixed moving home chart this week came from TSB, which offers 1.34% (3.1% APRC) fixed until 31 August 2024, after which it reverts to 3.59% variable. This deal is available at a 60% LTV and charges £995 in product fees. It has the incentive of free valuation.

HSBC had the lowest five year fixed moving home rate this week, offering 1.21% (2.7% APRC) fixed until 31 August 2026 and then reverts to 3.54% variable. This deal is available at a 60% LTV and has a number of opening restrictions, including requiring a minimum income of £75,000. It charges £1,499 in product fees and comes with the incentive of free valuation.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
Clydesdale Bank 2.89% Two years £1,999 Speak to a broker
Clydesdale Bank 3.28% Five years £1,999 Speak to a broker

 

First-time buyers will find that this week Clydesdale Bank continued to have the lowest rates in the two and five year fixed first-time buyers charts on deals available to those located in all areas of the UK. In the two year chart, it offers 2.89% (4.5% APRC) fixed until 31 July 2023 and then reverts to 4.55% variable. In the five year chart, it offers 3.28% (4.3% APRC) fixed until 31 July 2026, after which it reverts to 4.55% variable. Both deals are available at a 90% LTV and require a minimum loan of £80,000 to a maximum of £450,000. They charge £1,999 in product fees and come with the incentive of a free valuation for properties with a maximum purchase price of £3 million.

Compare first-time buyer mortgages

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