Derin Clark

Derin Clark

Online Reporter
Published: 07/02/2020

The mortgage charts continued their slow start to 2020 this week with very little changes at the top of the charts. This should not disappoint borrowers however, as the highly competitive rates that entered the chart towards the end of last year are still available and rates overall remain low.

Saying this, while choosing a mortgage deal with a low interest rate is important, mortgage borrowers should also keep in mind that the lowest rate available might not be the best deal for their personal circumstances. Instead, borrowers should consider a range of factors such as product fees, flexible features and incentives, when choosing the best deal.

The best mortgage rates for home-movers

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

Once again, Halifax offered the lowest moving home mortgage chart rate of 1.17% (3.8% APRC) fixed until 31 May 2022, which then reverts to 4.24% variable. This mortgage is available to those looking for a 60% loan-to-value (LTV) and charges product fees totalling £995. There are no incentives with this deal. Halifax also continued to offer the lowest five year fixed moving home rate this week. It offers 1.46% (3.2% APRC) fixed until 31 May 2025, which then reverts to 4.24% variable. This mortgage has the same terms and conditions as the two year fixed deal.

HSBC continued to offer the lowest rate in the three year fixed chart this week, offering a rate of 1.44% (3.6% APRC), which is fixed until 31 March 2023 and then reverts to 4.19% variable. This mortgage 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 comes with the incentive of 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 £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

While Progressive Building Society continued to top the first-time buyer chart overall, its deal is only available for those located in Northern Ireland. For those located in all England, Wales and mainland Scotland, Bath Building Society offers the lowest rate in the chart. Bath Building Society offers 2.49% (4.8% APRC) discounted variable for three years, which then reverts to 5.44% variable. This deal is available to those looking for a 95% LTV. It charges £872 in product fees but there are no incentives with this deal. Bath Building Society also continued to offer the lowest three year fixed rate, offering 2.59% (4.9% APRC) fixed for three years and then reverts to 5.44% variable. This mortgage has the same terms and conditions as the three year discounted variable deal.

The lowest two year fixed first-time buyer mortgage came from Newcastle Building Society this week, offering a rate of 2.58% (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 and charges £498 in product fees. There are no incentives with this deal.

Barclays Mortgage once again offered the lowest rate in the five year fixed first-time buyer chart, offering 2.75% (3.7% APRC) fixed until 30 April 2025, which then reverts to 4.24% variable. This deal is available to those looking for a 95% LTV. There are no product fees with this mortgage, but it includes the incentive of free valuation for properties valued to a maximum of £2m.

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 1.44% fixed Three years £999
Virgin Money 1.46% fixed Five years £1,495

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

Offering the lowest rate in the three year fixed remortgage chart this week was HSBC, offering a rate of 1.44% (3.6% APRC) fixed until 31 March 2023, which then reverts to 4.19% variable. 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 free valuation and no legal fees.

The lowest rate in the five year fixed rate remortgage chart was being offered by Virgin Money offering 1.46% (3.6% APRC) fixed until 1 May 2025, reverting to 4.99% variable thereafter. This deal is available to those looking for a 65% LTV. It charges £1,495 in product fees and comes with the incentives of free valuation and no legal fees.

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

Remortgages

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

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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