The Best Residential Mortgage Rates 30.04.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 30/04/2021

Today, the latest Nationwide House Price Index figures were released showing that average house prices had risen to a record high of £238,831. Those planning to move house will be pleased to see that mortgage rates in the moving home chart have remained competitively low this week. Meanwhile, for those hoping to buy their first home, last week’s lowest rates have remained available this week.

When looking for a mortgage deal, borrowers should be aware that the lowest rate on offer may not be the best deal for them. Instead, borrowers should look consider all aspects of the deal, such as product fees and incentives, to determine the best one for their individual requirements. Mortgage 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  

NatWest

Royal Bank of Scotland

1.03% fixed

1.03% fixed

Two years

Two years

£995

£995

Go to provider’s site
Go to provider’s site
Coventry Building Society 1.39% fixed Three years £999 Speak to a broker
Nationwide Building Society
Santander

1.19% fixed

1.19% fixed

Five years

Five years

£1,499

£1,249

Speak to a broker

Speak to a broker

 

Both NatWest and Royal Bank of Scotland had the lowest rate in our two year fixed remortgage chart this week. These deals are very similar, with both offering 1.03% (3.2% APRC) fixed until 31 August 2023, which revert to 3.59% variable. These deals are both available at a 60% loan-to-value (LTV), and require a minimum loan of £350,000. They charge £995 in product fees and come with the incentives of free valuation and no legal fees.

The lowest three year fixed remortgage rate in our chart this week again came from Coventry Building Society. This deal offers 1.39% (3.7% APRC) fixed until 30 June 2024, after which it reverts to 3.99% variable. It is available at a 50% LTV and charges £999 in product fees. This deal has the incentives of free valuation (up to a maximum of £670) and no legal fees.

Nationwide Building Society and Santander both had the lowest rate in the five year fixed remortgage chart this week. Nationwide Building Society offers 1.19% (2.8% APRC) fixed for five years and then reverts to 3.59% variable. This deal is available at a 60% LTV and a minimum loan of £300,000 is needed. It charges £1,499 in product fees. It comes with the incentive of free valuation, as well as £500 cashback on completion or no legal fees. Santander offers 1.19% (2.6% APRC) fixed until 2 August 2026, which then reverts to 3.35% variable. It is available at a 70% LTV and borrowers must take a minimum loan of £350,000. This deal charges £1,249 in product fees and comes with the incentive of free valuation for those in England, Wales and Northern Ireland or £95 towards valuations for those in Scotland, as well as £250 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
Halifax
Nationwide Building Society
1.24% fixed
1.24% fixed
Five years
Five years
£1,495
£1,499
Speak to a broker
Speak to a broker

 

The lowest rate in our two year fixed moving home chart this week came from Platform, which is part of The Co-operative Bank. This deal offers 1.06% (3.8% APRC) fixed until 31 July 2023 and then reverts to 4.34% variable. It is available at a 60% LTV and charges £1,499 in product fees. The deal comes with the incentives of free valuation and £250 cashback.

TSB had the lowest rate in our three year fixed moving home chart this week, offering 1.34% (3.1% APRC) fixed until 31 August 2024, which 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 Halifax and Nationwide Building Society had the lowest rates in our five year fixed moving home chart. Halifax offers 1.24% (2.7% APRC) fixed until 31 August 2026 and then reverts to 3.59% variable. This deal is available at a 60% LTV and borrowers must require a minimum loan of £250,000. It charges £1,495 in product fees. Nationwide Building Society offers 1.24% (2.8% APRC) fixed for five years, after which it reverts to 3.59% variable. It is available at a 60% LTV and a minimum loan of £275,000 must be taken. This deal charges £1,499 in product fees and comes with the incentive of free valuation.

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

 

Once again, the lowest rate in the two year fixed first-time buyer chart on a deal without localised opening restrictions came from Clydesdale Bank. This deal offers 2.89% (4.4% APRC) fixed until 31 July 2023 and then reverts to 4.55% variable. It is available at a 90% LTV and charges £1,999 in product fees. This deal comes with the incentive of free valuation on properties valued to a maximum of £3 million of the purchase price.

Clydesdale Bank also continued to offer the lowest five year fixed first-time buyer rate on a deal without localised opening restrictions. This deal is available at a rate of 3.28% (4.2% APRC) fixed until 31 July 2026, which reverts to 4.55% variable. It has the same terms and conditions as the two year deal 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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