The Best Residential Mortgage Rates 15 10 21 | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.


Derin Clark

Derin Clark

Online Reporter
Published: 15/10/2021

A rate rise by HSBC on its five year fixed remortgage deal this week has resulted in the lowest rate in this chart now standing at 0.97%, compared to 0.91% available last week. Although this is the only rate rise to impact the lowest rates on offer, it could suggest that mortgage rates have hit their lowest point. Consumers may want to act quickly to secure the best fixed rate deal soon in case rates start to rise in the coming months.

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 rate  
Santander
TSB
0.84% fixed
0.84% fixed
Two years
Two years
£749
£995
Find out more
Find out more
Nationwide Building Society 0.89% fixed Three years £999 Find out more
Nationwide Building Society
Royal Bank of Scotland
NatWest Int Sols
NatWest

0.97% fixed

0.97% fixed

0.97% fixed
0.97% fixed

Five years

Five years

Five years
Five years

£1,499

£995

£995
£995

Find out more

Go to provider’s site
Find out more
Go to provider's site

 

Santander and TSB both have the lowest two year fixed remortgage rate this week. Santander offers 0.84% (3.0% APRC) fixed until 2 January 2024 and then reverts to 3.35%. This deal is available to those who own 40% equity in their home and charges £749 in product fees. It comes with the incentive of a free valuation 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 free legal fees. TSB offers 0.84% (3.2% APRC) fixed until 29 February 2024, after which it reverts to 3.59%. The deal is available to homeowners with 40% equity in their home. It charges £995 in product fees and has the incentive of free valuation and legal fees.

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

Nationwide Building Society, Royal Bank of Scotland, NatWest Int Sols and NatWest all have the lowest five year fixed remortgage rate this week. Nationwide Building Society offers 0.97% (2.7% APRC) fixed for five years and then reverts to 3.59%. This deal is available to those with 40% equity in their home and requires a minimum mortgage of £300,000 to be taken. It charges £1,499 in product fees and comes with the incentive of a free valuation, as well as £500 cashback on completion or free legal fees. Royal Bank of Scotland, NatWest Int Sols (which is only available through mortgage brokers) and NatWest all offer 0.97% (2.6% APRC) fixed to 28 February 2027 and then revert to 3.59%. These deals are available to homeowners with 40% equity in their home and they all charge a product fee of £995. The Royal Bank of Scotland and NatWest deals come with the incentive of a free valuation and legal fees plus £250 cashback, while the deal from NatWest Int Sols also offers free valuation and legal fees but has a higher cashback of £350.

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 two year fixed rate in our moving home chart this week comes from Barclays Mortgage which offers 0.86% (3.2% APRC) fixed until 30 November 2023, after which it reverts to 3.59%. This deal is available to those with a 40% deposit in their home 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 continues to have the lowest three year fixed moving home mortgage rate this week offering 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. Mortgage borrowers must have a minimum of 40% deposit for this deal. It charges £999 in product fees. It 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 remortgage chart, Nationwide Building Society continues to have the lowest rate of 0.94% (2.6% APRC) fixed for five years, which then reverts to 3.59%. This deal is available to those with 40% deposit and requires a minimum mortgage loan of £275,000 to be taken. It charges £1,499 in product fees and comes with the incentive of a free valuation, along with a green reward of up to £500 cashback for eligible properties.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
HSBC 1.74% fixed Two years £999 Find out more
Platform 2.16% fixed Five years £1,999 Find out more

 

The lowest rate for first-time buyers with a 10% deposit comes from HSBC which offers 1.74% (3.3% APRC) fixed until 31 January 2024, after which it reverts to 3.54%. This deal charges £999 in product fees and comes with the incentive of a free valuation.

Platform, part of the Co-operative Bank, has the lowest rate in our five year fixed first-time buyer chart this week. This deal offers 2.16% (3.5% APRC) fixed until 31 December 2026, which then reverts to 4.34%. It is available to first-time buyers with a 10% deposit and a minimum mortgage loan of £400,000 must be taken. The deal charges £1,999 in product fees and comes with the incentive of free valuation and legal fees.

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.

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.

young couple receiving house keys

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy