The Best Residential Mortgage Rates 28 05 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 28/05/2021

Mortgage borrowers looking for a new deal will be pleased to see that the mortgage charts have remained highly competitive this week. In the remortgage chart, homeowners looking for a two year fixed deal can get a rate below 1%, meanwhile the lowest rate in our home moving chart is just 1.04% available on a two year fixed deal.

Borrowers should remember that although rates are competitively low at the moment, the deal offering the lowest rate may not be the best deal for them. Factors such as product fees and what incentives are included and impact the cost of the mortgage and should be considered along with the rate. 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

 

Homeowners looking to remortgage on a two year fixed deal can still get a rate below 1% with TSB offering 0.99% (3.2% APRC) fixed until 31 August 2023 and then reverts to 3.59%. This deal is available at a 60% loan-to-value (LTV) and charges £1,495 in product fees. It has the incentive of free valuations and no legal fees.

Those looking to lock into a three year remortgage deal will find that the lowest rate in our chart is from Coventry Building Society. This deal offers 1.39% (3.8% APRC) fixed until 30 June 2024. It is available at a 50% LTV. A product fee of £999 is charged and it comes with the incentive of free valuations to a maximum of £670 and no legal fees.

Santander, TSB and Nationwide Building Society all had the lowest five year fixed rate in our remortgage chart this week. Santander offers 1.19% (2.6% APRC) fixed until 2 September 2026 and then reverts to 3.35%. It is available at a 70% LTV and requires a minimum loan of £350,000. This deal charges a product fee of £1,249 and comes with the incentive of free valuations in England, Wales and Northern Ireland up to a maximum of £1,190 or £95 towards valuations in Scotland, as well as £250 cashback on completion or free legal fees. TSB offers 1.19% (2.8% APRC) fixed until 31 August 2026 and then reverts to 3.59%. This deal is available at a 60% LTV. It charges £1,495 in product fees and comes with the incentive of free valuations and no legal fees. Nationwide Building Society offers 1.19% (2.7% APRC) for five years and then reverts to 3.59%. It 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 valuations, in addition to £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

Nationwide Building Society

1.19% fixed

Five years

£1,499

Speak to a broker

 

This week Halifax and Platform, which is part of the Co-operative Bank, continued to have the lowest rate in our two year fixed moving home chart. Halifax offers 1.04% (3.2% APRC) fixed until 31 August 2023 and then reverts to 3.59%. This deal is available at a 60% LTV and requires a minimum loan of £250,000. It charges £1,495 in product fees, but there are no incentives. Platform offers 1.04% (3.8% APRC) fixed until 31 August 2023 and then reverts to 4.34%. It is available at a 60% LTV and charges £1,499 in product fees. This deal comes with the incentive of free valuations and £250 cashback.

The lowest rate in our three year fixed moving home chart came from TSB offering 1.34% (3.1% APRC) fixed until 31 August 2024 and then reverts to 3.59%. This deal is available at a 60% LTV. It charges £995 in product fees and comes with the incentive of free valuations.

Nationwide Building Society had the lowest rate in our five year fixed moving home chart this week offering 1.19% (2.7% APRC) fixed for five years and then reverts to 3.59%. It is available at a 60% LTV and requires a minimum loan of £275,000. The deal charges £1,499 in product fees and comes with the incentive of free valuations.

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

HSBC

3.26% fixed

Five years

£1,499

Speak to a broker

 

Halifax continued to have the lowest two year fixed rate in our first-time buyer chart that does not have localised opening restrictions. This deal offers 2.88% (3.6% APRC) fixed until 31 August 2023 and then reverts to 3.59%. It is available at a 90% LTV. There are no incentives with this deal.

The lowest rate in our five year fixed first-time buyer chart that does not have localised opening restrictions comes from HSBC, which offers 3.26% (3.6% APRC) fixed until 31 August 2026 and then reverts to 3.54%. This deal is available at a 90% LTV although borrowers should be aware that it has a number of opening restrictions including a minimum earned income of £75,000. This deal charges £1,499 in product fees and comes with the incentive of free valuations.

Compare first-time buyer mortgages

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