The Best Residential Mortgage Rates 23.04.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 23/04/2021

This week saw a number of high street banks launch mortgage deals for those with a 5% deposit under the Government’s mortgage guarantee scheme. Mortgage borrowers interested in these deals should visit our 95% loan-to-value (LTV) chart, where they will be able to see all the mortgage deals available for those with a 5% deposit and compare rates being offered.

For those looking for a new mortgage deal, below we’ve highlighted the lowest rates currently available in the remortgage, moving home and first-time buyer charts. Mortgage borrowers should be aware, however, that the lowest rate on a mortgage deal may not mean that the deal is the best choice for them. Instead, borrowers should consider a range of factors such as incentives, product fees and flexible features when comparing deals. For those uncertain about which deal is right for them, speaking to a mortgage broker may be beneficial when choosing a mortgage deal.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Santander 1.05% fixed Two years £1,249 Speak to a broker
Coventry Building Society 1.39% fixed Three years £999 Speak to a broker
Nationwide Building Society 1.19% fixed Five years £1,499 Speak to a broker

 

The lowest two year fixed remortgage rate this week came from Santander, which offers 1.05% (3.0% APRC) fixed until 2 August 2023, and then reverts to 3.35% variable. This deal is available at a 70% loan-to-value (LTV) and borrowers must take a minimum loan of £350,000. It charges £1,249 in product fees and comes with the incentive of free valuations up to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuation fees for those in Scotland. It also has the incentive of £250 cashback on completion or no legal fees.

Coventry Building Society had the lowest three year fixed remortgage rate in the chart this week, offering 1.39% (3.7% APRC) fixed until 30 June 2024 and then reverts to 3.99% variable. It is available to those looking for a 50% LTV. It charges £999 in product fees. The deal comes with the incentives of free valuation (up to a maximum of £670) and no legal fees.

In the five year fixed rate remortgage chart Nationwide Building Society had the lowest rate, offering 1.19% (2.8% APRC) fixed for five years, after which it reverts to 3.59% variable. This deal is available at a 60% LTV and borrowers must take a minimum loan of £300,000. It charges £1,499 in product fees and comes with the incentives 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  
Platform 1.06% fixed Two years £1,499 Speak to a broker
TSB 1.34% fixed Three years £995 Speak to a broker
Nationwide Building Society
Halifax

1.24% fixed

1.24% fixed

Five years

Five years

£1,499

£1,495

Speak to a broker

Speak to a broker

 

Platform, which is part of the Co-operative Bank, had the lowest two year fixed moving home rate this week, offering 1.06% (3.8% APRC) fixed until 31 July 2023 and then reverts to 4.34% variable. This deal is available to those looking for a 60% LTV. It charges £1,499 in product fees and comes with the incentives 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, after which it reverts to 3.59% variable. This deal is available at a 60% LTV. It charges £995 in product fees and comes with the incentive of free valuation.

Both Nationwide Building Society and Halifax had the lowest rate in the five year fixed moving home chart this week. Nationwide Building Society offers 1.24% (2.8% APRC) fixed for five years, which then reverts to 3.59% variable. This deal is available at a 60% LTV and borrowers must take a minimum loan of £275,000. It charges £1,499 in product fees and comes with the incentive of free valuation. Halifax offers 1.24% (2.7% APRC) fixed until 31 August 2026, after which it reverts to 3.59% variable. It is available at a 60% LTV and borrowers are required to take a minimum loan of £250,000. The deal charges £1,495 in product fees.

Compare moving home mortgages

The best first-time buyer mortgages

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

 

This week Clydesdale Bank had the lowest rate in the two year fixed first-time buyers chart on a deal without localised opening restrictions. It offers 2.89% (4.4% APRC) fixed until 31 July 2023, which then reverts to 4.55% variable. This deal is available at a 90% LTV and borrowers need to take a minimum loan of £80,000. It charges £1,999 in product fees and comes with the incentive of free valuation up to a maximum of £3 million of the purchase price.

Clydesdale Bank also had the lowest rate in the five year fixed first-time buyers chart on a deal without localised opening restrictions. This deal offers 3.28% (4.2% APRC) fixed until 31 July 2026 and then reverts to 4.55% variable. It has the same terms and conditions as the two year fixed deal highlighted above.

Compare first-time buyer mortgages

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.

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