The Best Residential Mortgage Rates 27.11.20 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 27/11/2020

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.

The best remortgage rates

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

1.39% fixed

Five years
Five years

Five years

£999
£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 remortgages

The best mortgage rates for home-movers

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 moving home mortgages

The best first-time buyer mortgage rates

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 first-time buyer mortgages

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