Derin Clark

Derin Clark

Online Reporter
Published: 06/03/2020

The mortgage charts remained highly competitive this week. First-time buyers will be pleased to see that a new lower rate now tops the first-time buyer five year chart, but borrowers should keep in mind that the lowest rate available might not be the best deal for their personal circumstances. Instead, borrowers should consider factors such as product fees, flexible features and incentives, all of which can be found on our mortgage charts, when choosing the best mortgage deal.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.17% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

Those looking to move home will find that Halifax once again offered the lowest rate overall in the home-movers chart this week. Halifax offers 1.17% (3.8% APRC) fixed until 31 May 2022, which then reverts to 4.24% variable. This deal is available to those looking for a 60% loan-to-value (LTV). It charges £995 in product fees and there are no incentives with this deal.

For borrowers looking for a three year fixed deal, HSBC once again offered the lowest rate. It offers 1.34% (3.5% APRC) fixed until 30 June 2023, reverting to 4.19% variable thereafter. This deal is available to those looking for a 60% LTV. A minimum income of £15,000 is required for this mortgage. It charges £999 in product fees and comes with the incentive of a free valuation.

Home-movers looking for a five year mortgage deal will find that HSBC also continued to offer the lowest rate in this chart. HSBC offers 1.41% (3.2% APRC) fixed until 30 June 2025, which then reverts to 4.19% variable. It is a restrictive deal only available to Premier customers. This deal is available to those looking for a 60% LTV and who have a minimum earned income of £75,000. It charges £1,499 in product fees and includes the incentive of a free valuation.

Moving home mortgages

All the rates available can be found on our moving home chart.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Bath Building Society 2.49% discounted variable Three years 0.40% of advance (from a minimum of £599) + £200
Newcastle Building Society 2.59% fixed Two years £498
Bath Building Society 2.59% fixed Three years 0.40% of advance (from a minimum of £599) + £200
Saffron Building Society 2.67% fixed Five years £180

The lowest rate overall in the first-time buyer chart once again came from Bath Building Society which offers 2.49% (4.8% APRC) discounted variable for three years, and then reverts to 5.44%. This deal is available to those looking for a 95% LTV. It requires a minimum earned income of £35,000. The product fee on this deal is 0.40% of advance (from a minimum of £599) plus £200. There are no incentives. Bath Building Society also offered the lowest rate in the three year fixed chart offering 2.59% (4.9% APRC) fixed for three years and then reverts to 5.44% variable. This deal has the same terms and conditions as the three year discounted variable option.

First-time buyers looking for a two year fixed deal will find Newcastle Building Society offering the lowest rate for those located in all areas of Great Britain. It offers 2.59% (5.1% APRC) fixed until 30 June 2022, reverting to 4.49% variable thereafter. This deal is available to those looking for a 95% LTV. It charges £498 in product fees. There are no incentives with this deal.

Saffron Building Society offered the lowest rate in the five year fixed chart this week. It offers 2.67% (3.9% APRC) fixed until 31 August 2025, which then reverts to 4.64% variable. This deal is available to those looking for a 95% LTV, but is only available to those located in Wales and England. It charges £180 in product fees and comes with the incentive of a free valuation. This is a Family Support mortgage and extra terms and conditions will apply.

First-time buyer mortgages

All the rates available can be found on our first-time buyer chart.

The best remortgage rates

Provider Rate Initial rate period Product fee
NatWest Int Sols 1.19% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

This week, NatWest Int Sols continued to offer the lowest rate overall in the remortgage chart. It offers 1.19% (3.8% APRC) fixed until 30 June 2022, which then reverts to 4.24% variable. This deal is only available through intermediaries and for those looking for a 60% LTV. It charges £995 in product fees and comes with the incentives of a free valuation and no legal fees.

Those looking for a three year fixed remortgage deal will find that HSBC once again offered the lowest rate in this chart. It offers 1.34% (3.5% APRC) fixed until 30 June 2023, reverting to 4.19% variable thereafter. This deal is available to those looking for a 60% LTV and who earn a minimum income of £15,000. It charges £999 in product fees and comes with the incentives of a free valuation and no legal fees.

HSBC also continued to offer the lowest rate in the five year fixed remortgage chart this week. It offers 1.41% (3.2% APRC) fixed until 30 June 2025, which then reverts to 4.19% variable. This deal is only available to Premier customers who are looking for a 60% LTV. A minimum income of £75,000 is required for this deal. It charges £1,499 in product fees and comes with the incentives of a free valuation and no legal fees.

Remortgages

All the rates available can be found on our remortgage chart.

Borrowers who are interested in any of these deals can speak to a mortgage broker for more information.

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.

for sale sign outside residential house

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