Derin Clark

Derin Clark

Online Reporter
Published: 06/12/2019

After a year of intense mortgage rate competition, there has been little movement at the top of the charts over the last few weeks. In fact, this week saw an increase in the top rate available in the moving home chart. Saying this, competition within the charts continues and there are some highly competitive rates available across all the charts.

Borrowers should be aware that it is important to factor in many considerations when choosing the right mortgage deal and not just look at the rate on offer. For example, some borrowers might find a better deal at a higher rate when factoring incentives and flexible features into the deal as well.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.17% Two years £995
HSBC 1.44% Three years £999
Halifax 1.46% Five years £995

This week, although Halifax increased the rate on its chart-topping moving home mortgage deal, it still remained at the top of the chart. It now offers 1.17% (3.8% APRC) fixed until 28 February 2022, reverting to 4.24% thereafter. This deal is available for those looking for a 60% loan-to-value (LTV) and charges £995 in product fees. There are no incentives with this mortgage.

HSBC remained at the top of the three-year chart this week, continuing to offer 1.44% (3.6% APRC) fixed until 31 January 2023, after which it reverts to 4.19%. This deal is available to those looking for a 60% LTV and requires an earned minimum income of £15,000. It charges £999 in product fees and includes the incentive of free valuations.

With last weeks’ top rate in the five-year chart from Skipton Building Society no longer available, Halifax was new to the top of the chart this week. Halifax offers 1.46% (3.2% APRC) fixed until 28 February 2025, which then reverts to 4.24%. This deal has the same terms and conditions as the two-year version.  

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Bath Building Society 2.49% discounted variable Three years £872
Newcastle Building Society 2.59% fixed Two years £498
Bath Building Society 2.59% fixed Three years £872
Barclays Mortgage 2.75% fixed Five years £0

Bath Building Society remained at the top of the first-time buyer chart this week, offering the lowest rate for those in England and Wales. It offers a 2.49% (4.8% APRC) discounted variable rate for three years, which then reverts to 5.44%. This deal is available to those looking for a 95% LTV and is only available to those who earn a minimum income of £35,000. It charges £872 in product fees and there are no incentives with this deal. Bath Building Society also continues to top the three-year fixed rate chart this week, offering 2.59% (4.9% APRC) fixed for three years, and then reverting to 5.44%. This deal has the same terms and conditions as the discounted variable deal.

Newcastle Building Society continued to offer the lowest two-year fixed rate for those located in England and Wales. It offers 2.59% (5.1% APRC) fixed until 28 February 2022, which then reverts to 4.49%. This deal is available to those looking for a 95% LTV and charges £498 in product fees. There are no incentives with this deal.

Also remaining at the top of the five-year chart this week was Barclays Mortgage, offering 2.75% (3.7% APRC) fixed until 31 January 2025, reverting to 4.24% thereafter. This deal is available to those looking for a 95% LTV. It does not charge any product fees, but comes with the incentive of free valuations for properties valued to a maximum of £2m.

The best remortgage rates

Provider Rate Initial rate period Product fee
NatWest Int Sols 1.19% Two years £995
HSBC 1.44% Three years £999
Santander 1.49% Five years £999

Remaining at the top of the remortgage chart this week was NatWest Int Sols, offering 1.19% (3.8% APRC) fixed until 31 March 2022, which then reverts to 4.24%. Borrowers should be aware that this deal is only available through a broker and to those looking for a 60% LTV. It charges £995 in product fees and includes the incentives of free valuations and no legal fees.

Topping the three-year chart this week was HSBC, offering 1.44% (3.6% APRC) fixed until 31 January 2023, and then reverting to 4.19%. This deal is available to those looking for a 60% LTV and who have a minimum earned income of £15,000. It charges £999 in product fees and includes the incentive of free valuations and no legal fees.

With last week’s top five-year fixed remortgage rate no longer available, Santander topped the chart this week, offering 1.49% (3.1% APRC) fixed until 2 March 2025, which then reverts to 4.00%. This deal is available for those looking for a 60% LTV and charges £999 in product fees. It includes the incentives of free valuations, to a maximum of £1,190 for those in England, Wales and Northern Ireland, or £95 towards valuations fees for those in Scotland, as well as £250 cashback on completion, or no legal fees.

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.

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