The Best Residential Mortgage Rates 6 1 22 | moneyfacts.co.uk

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Cameron Bone

Data Analyst
Published: 06/01/2022

The lowest rates in our fixed rate mortgage charts remain competitive at the start of the new year and are largely unchanged from the deals seen before the holiday season started. Homeowners are still able to secure a sub-1% remortgage deal when looking to fix their mortgage for three years, while first-time buyers with a 10% deposit can now get a rate of 1.61% in our two year fixed first-time buyer chart.

Although we’ve highlighted the lowest rates across our mortgage charts, borrowers should always 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 circumstances.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Barclays Mortgage 1.11% fixed Two years £999 Speak to a broker
TSB 0.94% fixed Three years £995 Speak to a broker
Yorkshire Building Society

1.39% fixed

Five years

£1,495

Speak to a broker

 

In our two year fixed remortgage chart, Barclays Mortgage continues to have the lowest rate on a deal available to those in all areas of the UK. This deal offers 1.11% (3.4% APRC) fixed until 29 February 2024 and then reverts to 3.74%. It is available to homeowners with 40% equity in their property and charges £999 in product fees.

The lowest rate in our three year fixed remortgage chart this week is still from TSB, with a deal offering 0.94% (3.0% APRC) fixed to 28 February 2025, after which it reverts to 3.59%. This deal is available to those who own 40% equity in their home. It charges £995 in product fees and comes with incentives of a free valuation and free legal fees.

Yorkshire Building Society has the lowest five year remortgage rate and offers 1.39% (3.4% APRC) fixed until 28 February 2027, which reverts to 4.49%. This deal is available to those with 25% equity in their home and charges £1,495 in product fees. It comes with the incentives of a free valuation and free legal fees.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Barclays Mortgage 1.11% fixed Two years £999 Speak to a broker
TSB 1.09% fixed Three years £995 Speak to a broker
Nationwide Building Society 1.32% fixed Five years £1,499 Speak to a broker

 

For those located in all areas of the UK, the lowest rate in our two year fixed moving home chart this week is from Barclays Mortgage. This deal offers 1.11% (3.4% APRC) fixed until 29 February 2024, after which it reverts to 3.74%. It is available to those with a 40% deposit and charges £999 in product fees.

TSB has the lowest rate in the three year fixed moving home chart this week with a deal offering 1.09% (2.3% APRC) fixed until 28 February 2025, which then reverts to 2.59%. This deal is available to those with a 40% deposit and charges £995 in product fees. It comes with the incentive of a free valuation.

Two lenders now have the lowest five year fixed rates for those who are moving home. Nationwide Building Society offers 1.39% (2.8% APRC) fixed for five years and then reverts to 3.59%. This deal is available to those with a 40% deposit and who are looking to borrow a minimum of £300,000. It charges £1,499 in product fees and comes with the incentives of a free valuation, as well as a green cashback reward of up to £500 for eligible properties. Yorkshire Building Society also offers a 1.39% (3.3% APRC) rate until 28 February 2027, which then reverts to 4.49%. This deal is available to those with a 25% deposit and charges £1,495 in product fees. Meanwhile, the incentive of a free valuation is available.

The best first-time buyer mortgages

Provider Rate Initial rate period Product fee  
Platform 1.61% fixed Two years £1,499 Speak to a broker
Clydesdale Bank 2.18% fixed Five years £1,999 Speak to a broker

 

The lowest rate in our first-time buyer chart this week comes from Platform. This deal offers 1.61% (4.1% APRC) fixed until 30 April 2024 and then reverts to 4.49%. It is available to first-time buyers with a 10% deposit and charges £1,499 in product fees. This deal includes incentives of a free valuation and £250 cashback.

This week, Clydesdale Bank has the lowest rate in our five year fixed first-time buyer chart, offering 2.18% (3.8% APRC) fixed until 31 March 2027, which then reverts to 4.55%. This deal is available to those with a 10% deposit and who are looking to borrow a minimum of £80,000. It charges £1,999 in product fees and comes with the incentive of a free valuation for properties valued up to £3 million.

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