The mortgage charts have remained highly competitive this week, with low rates continuing to be offered in both the remortgage and moving home charts. Although first-time buyers with a low deposit of 10% or less will still find the market challenging, there are options available, but those struggling to find a deal should consider speaking to a mortgage broker who will be able to provide help finding the best deals available.
Below we have highlighted the lowest rates available in the remortgage and moving home charts, as well as some of the best deals in the guarantor mortgage chart. Borrowers should be aware the lowest rates may not offer the best deal overall and should also consider factors such as product fees and incentives when choosing a mortgage.
Provider | Rate | Initial rate period | Product fee |
Lloyds Bank | 1.17% fixed | Two years | £999 |
Coventry Building Society | 1.45% fixed | Three years | £999 |
Lloyds Bank Nationwide Building Society Virgin Money |
1.39% fixed 1.39% fixed |
Five years Five years |
£999 £1,495 |
Remortgage rates remained highly competitive this week, with Lloyds Bank continuing to offer the lowest rate overall of 1.17% (3.2% APRC) fixed until 28 February 2023, which then reverts to 3.59% variable. This deal is available at a 60% loan-to-value (LTV) and charges £999 in product fees. It comes with the incentive of free valuation and no legal fees, as well as £200 cashback for those with a Lloyds Bank current account.
The lowest rate in the three year fixed remortgage chart continues to be offered by Coventry Building Society, which has a rate of 1.45% (3.8% APRC) fixed until 31 December 2023, after which it reverts to 3.99% variable. This deal is available at a 65% LTV. It charges £999 in product fees and comes with the incentives of free valuation (up to a maximum of £670) and no legal fees.
Lloyds Bank, Nationwide Building Society and Virgin Money all had the lowest five year fixed remortgage rate this week. Lloyds Bank offers 1.39% (2.8% APRC) fixed until 28 February 2026. This deal is available at a 60% LTV. It charges £999 in product fees and comes with the incentives of free valuation and no legal fees. Nationwide Building Society offers a rate of 1.39% (2.8% APRC) fixed for five years, after which it reverts to 3.59% variable. This deal is available at a 60% LTV and charges £999 in product fees. It comes with the incentives of free valuation and either no legal fees or £500 cashback on completion. Virgin Money offers a rate of 1.39% (3.1% APRC) fixed until 1 March 2026, after which it reverts to 4.34% variable. This deal is available at a 65% LTV and charges £1,495 in product fees. It comes with the incentives of free valuation and no legal fees.
Compare the best remortgage rates on our charts.
Provider | Rate | Initial rate period | Product fee |
Clydesdale Bank | 1.19% fixed | Two years | £1,999 |
Barclays Mortgage | 1.49% fixed | Three years | £999 |
Virgin Money | 1.39% fixed | Five years | £1,495 |
The lowest moving home mortgage rate this week came from Clydesdale Bank, which offers 1.19% (4.1% APRC) fixed until 31 January 2023 and then reverts to 4.55% variable. This deal is available for those looking for a 75% LTV. It charges £1,999 in product fees. There are no incentives with this deal.
The lowest three year fixed moving home mortgage rate came from Barclays Bank, which offers 1.49% (3.1% APRC) fixed until 31 January 2024, after which it reverts to 3.59% variable. This deal is available at a 60% LTV and charges £999 in product fees. It comes with the incentive of free valuation for properties valued to a maximum of £2 million.
In the five year fixed moving home chart, the lowest rate this week came from Virgin Money, offering 1.39% (65% LTV) fixed until 1 March 2026 and then reverts to 4.34% variable. This deal is available to those looking for a 65% LTV. It charges £1,495 in product fees and comes with the incentive of free valuation.
Compare the best mortgage rates for moving home on our charts.
Provider | Rate | Initial rate period | Product fee |
Nationwide Building Society | 3.49% fixed | Two years | £999 |
Barclays Mortgage | 3.05% fixed | Five years | £0 |
The lowest rate in the two year fixed first-time buyer chart that is not location-restricted or a guarantor mortgage, comes from Nationwide Building Society, offering 3.49% (3.7% APRC) fixed for two years and then reverts to 3.59% variable. This deal is available at a 90% LTV and charges £999 in product fees. It comes with the incentives of free valuation and £500 cashback.
The lowest rate in the five year fixed first-time buyers chart is Barclays Mortgage’s Springboard Mortgage deal. This guarantor mortgage deal offers 3.05% (2.8% APRC) fixed until 31 January 2026 and then reverts to 2.59% variable. This deal is available at a 95% LTV. It does not charge any product fees and it comes with the incentive of free valuation for properties valued to a maximum of £2 million.
Compare the best rates for first-time buyer mortgages on our charts.
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.
There was some good news for first-time buyers this week as we reported that the number of first-time buyer deals has almost doubled month on month
There was some good news for first-time buyers this week as we reported that the number of first-time buyer deals has almost doubled month on month
Although locking into a new mortgage deal can reduce monthly repayments, especially if the borrower is currently on the lender’s standard variable rate (SVR)
Although locking into a new mortgage deal can reduce monthly repayments, especially if the borrower is currently on the lender’s standard variable rate (SVR)
A combination of rising house prices, mortgage lenders withdrawing deals for those with a 10% or less deposit, and savings rates at a historic low, resulted in potential first-time buyers facing a highly challenging market last year
A combination of rising house prices, mortgage lenders withdrawing deals for those with a 10% or less deposit, and savings rates at a historic low, resulted in potential first-time buyers facing a highly challenging market last year
There was some good news for first-time buyers this week as we reported that the number of first-time buyer deals has almost doubled month on month
There was some good news for first-time buyers this week as we reported that the number of first-time buyer deals has almost doubled month on month
Although locking into a new mortgage deal can reduce monthly repayments, especially if the borrower is currently on the lender’s standard variable rate (SVR)
Although locking into a new mortgage deal can reduce monthly repayments, especially if the borrower is currently on the lender’s standard variable rate (SVR)
A combination of rising house prices, mortgage lenders withdrawing deals for those with a 10% or less deposit, and savings rates at a historic low, resulted in potential first-time buyers facing a highly challenging market last year
A combination of rising house prices, mortgage lenders withdrawing deals for those with a 10% or less deposit, and savings rates at a historic low, resulted in potential first-time buyers facing a highly challenging market last year
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