Derin Clark

Derin Clark

Online Reporter
Published: 10/05/2019

Those looking to get the best mortgage rates this week should look at the two-year fixed rate mortgage chart, where the best rate being offered was 1.54%, while those wanting to fix their mortgage term for longer would be able to get a top rate of 1.74% in the three-year fixed rate Best Buy chart or 1.89% in the five-year and over fixed rate best Buy chart. The remortgage chart remained highly competitive this week, with a rate of 1.43% (variable) topping the Best Buy chart.

A selection of the best two-year fixed rate mortgages

In the Best Buy two-year fixed rate mortgage chart this week:

  • Yorkshire Building Society – 1.54%
  • NatWest – 1.60%
  • First direct bank – 1.64%

There was not much movement at the top of the fixed rate mortgage Best Buy charts this week, with Yorkshire Building Society remaining at the top of the two-year fixed rate chart offering a rate of 1.54% on a 35% deposit/equity (65% LTV). This rate is fixed until 30 June 2021 and charges a completion fee of £995. It does however come with the incentives of free valuation and £250 cashback, while also allowing underpayments, overpayments and payment holidays.

NatWest was second in the Best Buy chart this week with a rate of 1.60% on 20% deposit/equity (80% LTV) that remains fixed until 31 October 2021. A fee of £995 is required, but this product includes the incentive of £250 cashback and allows overpayments. Meanwhile, first direct took third place with a rate of 1.64% that is fixed for two years for those with a 25% deposit/equity (75% LTV). This deal charges a booking fee of £490, which increases depending on the amount borrowed, but does offer the incentive of fees valuation and, for remortgagers, free legal fees, while also allowing overpayments.

A selection of the best three-year fixed rate mortgages

In the Best Buy three-year fixed rate mortgage chart this week:

  • HSBC – 1.74%
  • Barclays Mortgage – 1.79%
  • Yorkshire Building Society – 1.89%

HSBC was offering the top rate in the three-year Best Buy chart this week with 1.74% on a 25% deposit/equity (75% LTV), which is fixed until 31 July 2022. The product carries a fee of £999, but it includes the incentive of free valuation for all borrowers and free legal fees too for remortgage customers. Barclays Mortgage took second place again this week with a rate of 1.79% on a 25% deposit/equity (75% LTV), which is fixed until 31 July 2022. A fee of £999 is charged, however it includes the incentive of free valuation for properties valued to a maximum of £2m and again, legal fees are free for remortgagers. Both these deals have the flexibility of allowing overpayments too. In third place this week was Yorkshire Building Society offering 1.89% fixed until 30 June 2022 for a 15% deposit/equity (85% LTV). This deal charges a completion fee of £995 but does offer free valuation as an incentive. This product also allows underpayments, overpayments and payment holidays.

A selection of the best five-year fixed rate mortgages

In the Best Buy five-year and over fixed rate mortgage chart this week:

  • Santander – 1.89%
  • Sainsbury's Bank – 2.01%
  • Yorkshire Building Society – 2.10%

As is normal, those wanting to fix their mortgage for a term of five years or more had to compromise with the highest fixed term rates this week. Santander offered the most competitive rate in this Best Buy chart of 1.89% that is fixed until 2 August 2024. This deal requires a 25% deposit/equity (75% LTV) and charges a fee of £999. It does however include the incentive of free valuation up to £1,190 for all borrowers and free legal fees or £250 cashback for remortgage customers too, as well as permitting overpayments. Sainsbury's Bank was offering a rate of 2.01% that is fixed until 30 June 2024, which put it in second place in the chart this week. This rate requires a 20% deposit/equity (80% LTV) and charges an arrangement fee of £995. However, it includes the incentive of free valuation and allows underpayments, overpayment and payment holidays. Yorkshire Building Society featured strongly in the charts this week and could be found in third place in the long-term fixed rate chart offering a rate of 2.10% for a 15% deposit/equity (85% LTV). This rate is fixed until 30 June 2024 and charges a completion fee of £995. It offers the incentives of free valuations and £500 cashback. Underpayments, overpayments and payment holidays are also allowed.

A selection of the best remortgage deals

In the Best Buy remortgage chart this week:

  • NatWest – 1.43%
  • Lloyds Bank – 1.63%
  • Mansfield Building Society – 2.05%

The top rate in the Best Buy remortgage chart this week was 1.43% variable, which was offered by NatWest. This deal requires a 60% LTV and charges a booking fee of £995. It includes an incentive package of free valuation, no legal fees and £250 cashback and also allows overpayments. Also offering a remortgage rate below 2.00% this week was Lloyds Bank offering 1.63% fixed rate until 31 August 2021. This rate requires an 80% LTV and charges an arrangement fee of £999. It offers the incentives of free valuations and no legal fees, while also permitting overpayments and payment holidays. Mansfield Building Society was third in the remortgage Best Buy chart this week offering a discount variable rate of 2.05% for three years on a 80% LTV. This deal charges a completion fee of £300 and a booking fee of £199. It does however include the incentives of no legal fees, free valuation and allows overpayments.

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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