The Best Residential Mortgage Rates 21 05 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 21/05/2021

Mortgage lenders continued to offer highly competitive rates this week, with deals offering rates under 1.00% available in the remortgage charts. As well as this, competition within the first-time buyer market has continued to grow, with lenders introducing new deals.

Although we have highlighted the lowest rates available in the charts, borrowers should remember 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 decide which is right for them. 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

 

The lowest two year fixed remortgage rate this week came from TSB, which offers 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) and charges £1,495 in product fees. It has the incentive of free valuation and no legal fees.

Coventry Building Society continued to have the lowest rate in our three year fixed remortgage chart offering 1.39% (3.8% APRC) fixed until 30 June 2024, after which it reverts to 3.99% variable. This deal is available at a 50% LTV and charges £999 in product fees. It has the incentive of free valuation (up to a maximum of £670) and no legal fees.

Santander, TSB and Nationwide Building Society all offered the lowest rate in the five year fixed remortgage chart this week. Santander offers 1.19% (2.6% APRC) fixed until 2 September 2026 and then reverts to 3.35% variable. This deal is available at a 70% LTV and requires a minimum loan of £350,000. It charges £1,249 in product fees and comes with the incentive of free valuation up to a maximum of £1,190 in England, Wales and Northern Ireland or £95 towards valuations 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, which 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, after which it reverts to 3.59% variable. This deal is available at a 60% LTV and requires a minimum loan of £300,000. It charges £1,499 in product fees and comes with the incentive of free valuation, as well as £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, which is part of The Co-operative Bank, had the lowest rate in our two year fixed moving home chart this week. Halifax offers 1.04% (3.2% APRC) fixed until 31 August 2023, after which it 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. Platform offers 1.04% (3.8% APRC) until 31 August 2023 and then reverts to 4.34% variable. It is available at a 60% LTV and charges £1,499 in product fees. It comes with the incentive of free valuation 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 and then reverts to 3.59% variable. It is available at a 60% LTV and charges £995 in product fees. It comes with the incentive of free valuation.

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

Compare moving home mortgages

The best first-time buyer mortgage

Provider Rate Initial rate period Product fee  
Halifax 2.88% fixed Two years £995 Speak to a broker
Clydesdale Bank 3.28% fixed Five years £1,999 Speak to a broker

 

The lowest rate on a deal without localised opening restrictions in our two year fixed first-time buyers chart came from Halifax this week. This deal offers 2.88% (3.6% APRC) fixed until 31 August 2023 and then reverts to 3.59% variable. It is available at a 90% LTV and charges £995 in product fees.

Clydesdale Bank continued to offer the lowest rate in the five year fixed first-time buyer chart on a deal without localised opening restrictions. It offers 3.28% (4.3% APRC) fixed until 31 July 2026, after which it reverts to 4.55% variable. This deal is available at a 90% LTV and requires a minimum loan of £80,000. It charges £1,999 in product fees and comes with the incentive of free valuation for properties with a maximum purchase price of £3 million.

Compare first-time buyer mortgages

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