The Best Residential Mortgage Rates 24.09.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 24/09/2021

Mortgage rates have remained highly competitive this week with borrowers remortgaging and moving home able to lock into sub-1% rates. As well as this, those buying homes with low deposits are now starting to see more competitive rates trickle through, most notably in the first-time buyer charts as new lower rates are now available for those with just a 10% deposit.

To give an idea of the competitive rates available to mortgage borrowers, below we’ve highlighted the lowest rates in our charts this week. Mortgage borrowers should, however, 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 individual circumstances.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Platform 0.79% fixed Two years £1,499 Speak to a broker
Nationwide Building Society 0.89% fixed Three years £999 Speak to a broker
HSBC 0.91% fixed Five years £1,499 Speak to a broker

 

Homeowners looking for a two year fixed remortgage deal will find that the lowest rate this week came from Platform, which is part of the Co-operative Bank. This deal offers 0.79% (3.8% APRC) fixed until 31 December 2023, after which it reverts to 4.34%. It is available to those with 40% equity in their home – 60% loan-to-value (LTV) – and charges £1,499 in product fees. The deal has the incentive of free valuation and legal fees, as well as £250 cashback.

The lowest rate in the three year fixed remortgage chart this week was Nationwide Building Society’s deal offering 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. Homeowners need to have 40% equity in their home (60% LTV) for this deal. It charges £999 in product fees and comes with the incentive of free valuation fees, along with £500 cashback on completion or free legal fees.

HSBC had the lowest rate in the five year fixed remortgage chart this week offering 0.91% (2.6% APRC) fixed until 30 November 2026 and then reverts to 3.54%. This deal is available to those with 40% equity in their home (60% LTV) and has a number of opening restrictions, including needing a minimum earned income of £75,000. It charges £1,499 in product fees and comes with the incentive of free valuation and legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Platform 0.79% fixed Two years £1,499 Speak to a broker
Nationwide Building Society 0.89% fixed Three years £999 Speak to a broker
Nationwide Building Society 0.94% fixed Five years £1,499 Speak to a broker

 

This week, Platform had the lowest rate in the moving home two year fixed chart this week with a deal offering 0.79% (3.8% APRC) fixed until 31 December 2023, which then reverts to 4.34%. This deal is available to those with a 40% deposit (60% LTV) and charges £1,499 in product fees. It comes with the incentive of free valuation and legal fees, along with £250 cashback.

Nationwide Building Society had the lowest three year fixed moving home rate this week with a deal offering 0.89% (3.0% APRC) fixed for three years and then reverts to 3.59%. It is available to those with a 40% deposit (60% LTV) and charges £999 in product fees. It comes with the incentive of free valuation fees, as well as a green reward of up to £500 for eligible properties.

Home movers looking for a five year fixed deal will find that Nationwide Building Society also had the lowest rate in this chart. This deal offers 0.94% (2.6% APRC) fixed for five years and then reverts to 3.59%. It is available to those with a 40% deposit (60% LTV) and requires borrowers to take a minimum loan of £275,000. The deal charges £1,499 in product fees and comes with the incentive of free valuation fees, along with a green reward of up to £500 for eligible properties.

Compare moving home mortgages

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
HSBC 1.84% fixed Two years £999 Speak to a broker
HSBC 2.46% fixed Five years £1,499 Speak to a broker


First-time buyers with a 10% deposit (90% LTV) will find that HSBC had the lowest rate in this chart with a deal offering 1.84% (3.3% APRC) fixed until 30 November 2023, after which it reverts to 3.54%. This deal charges £999 in product fees and has the incentive of free valuation fees.

HSBC also had the lowest rate in the first-time buyer five year fixed chart offering 2.46% (3.2% APRC) fixed until 30 November 2026 and then reverts to 3.54%. It is available to first-time buyers with a 10% deposit (90% LTV) and has a number of opening restrictions, including needing an earned income of a minimum of £75,000. It charges £1,499 in product fees and has the incentive of free valuation fees.

Compare first-time buyer mortgages

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