Derin Clark

Derin Clark

Online Reporter
Published: 11/10/2019

Mortgage rates continue to be highly competitive this week, with many of last week’s top rates still available to borrowers. As well as this, the top rates across all charts are available on two year fixed deals, which is good news for those who want the security of locking their mortgage into a fixed rate.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee

Barclays Bank

NatWest

Royal Bank of Scotland
1.21% fixed Two years

£999

£995

£995

HSBC 1.44% fixed Three years £999

NatWest

Royal Bank of Scotland
1.55% fixed Five years £995

Three mortgage lenders offered the best overall rate in the moving home mortgage chart this week. Barclays Bank, NatWest and Royal Bank of Scotland all offer a two-year fixed rate of 1.21%.

Barclays Bank offers a rate of 1.21% (3.8% APRC) fixed until 31 January 2022, which then reverts to 4.24%. This mortgage is available to those looking for a 60% loan-to-value (LTV) and who require a minimum loan of £5,000 to a maximum of £2m. This deal charges £999 in product fees and includes the incentive of free valuation. NatWest offers 1.21% (3.8% APRC) fixed until 31 January 2022, reverting to 4.24% thereafter. This deal is available to borrowers looking for a 60% LTV and who want a minimum loan of £25,000 to a maximum of £2m. This mortgage charges £995 in product fees and includes the incentive of £250 cashback. Royal Bank of Scotland offers 1.21% (3.8% APRC) fixed until 31 January 2022 and offers the same terms and conditions as the NatWest mortgage. All of these mortgages allow overpayments.

HSBC topped the three year chart offering a rate of 1.44% (3.5% APRC) which is fixed until 31 January 2023, reverting to 4.19% thereafter. This deal requires a minimum earned income of £15,000 and is available on a 60% LTV. Borrowers can get a minimum loan of £10,000 to a maximum of £5m. This mortgage charges £999 in product fees and includes the incentive of free valuation. Overpayments are allowed.

Both NatWest and Royal Bank of Scotland topped the five year chart this week offering 1.55% (3.2% APRC) fixed until 31 January 2025, then reverting to 4.24%. Both deals are available to those looking for a 60% LTV and who require a minimum loan of £25,000 to a maximum of £2m. These mortgages charge £995 in product fees and include the incentive of £250 cashback. They both allow overpayments.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Newcastle Building Society 2.59% fixed Two years £498
The Family Building Society 2.84% fixed Three years £599
Barclays Mortgage 2.75% fixed Five years £0

Competition within the first-time buyer chart remains strong, with Newcastle Building Society once again topping the chart offering a rate of 2.59% (5.1 APRC) fixed to 28 February 2022, reverting to 4.49% thereafter. This mortgage is available to those looking for a 95% LTV and it requires a minimum loan of £30,000 while the maximum is dependent on LTV. It charges £498 in product fees and while there are no incentives, overpayments are allowed.

The Family Building Society remained at the top of the three year chart this week offering 2.84% (4.5% APRC) fixed until 28February 2023, which then reverts to 5.04%. This deal is available to borrowers looking for a 95% LTV and who require a minimum loan of £45,000 to a maximum of £500,000. It charges £599 in product fees and includes the incentives of free valuation for properties valued to a maximum of £500,000, as well as no legal fees or £250 cashback. Overpayments are allowed.

First-time buyers looking to lock their mortgage into a long-term deal could get the best rate from Barclays Mortgage, which offers 2.75% (3.7% APRC) fixed until 31 January 2025 and then reverts to 4.24%. This deal is available to those looking for a 95% LTV and who require a minimum loan of £5,000 to a maximum of £500,000. There are no product fees and it includes the incentive of free valuation for properties valued to a maximum of £2m. Overpayments are allowed.

The best remortgage rates

Provider Rate Initial rate period Product fee
Barclays Mortgage 1.21% fixed Two years £999
HSBC 1.44% fixed Three years £999
Virgin Money 1.56% fixed Five years £995

Barclays Mortgage remained at the top of the remortgage chart this week offering a rate of 1.21% (3.8% APRC) fixed until 31 January 2022, reverting to 4.24% thereafter. This deal is available to those looking for a 60% LTV and who require a minimum loan of £5,000 to a maximum of £2m. It charges £999 in product fees and includes the incentives of free valuation, as well as no legal fees or £200 cashback. Overpayments are allowed.

Once again topping the three year remortgage chart this week was HSBC offering 1.44% (3.6% APRC) fixed until 31 January 2023, which then reverts to 4.19%. A minimum earned income of £15,000 is required for this deal, which is available to those looking for a 60% LTV. It has a minimum loan requirement of £10,000 to a maximum of £5m. This deal charges £999 in product fees and includes the incentives of free valuation and no legal fees. Overpayments are allowed.

Virgin Money stayed at the top of the five year remortgage chart this week offering 1.56% (3.6% APRC) fixed until 1 January 2025, reverting to 4.99% thereafter. This mortgage is available to those looking for a 65% LTV and there is no minimum loan requirement, while the maximum is dependent on LTV. It charges £995 in product fees and includes the incentives of free valuation and no legal fees. Overpayments and payment holidays are allowed.

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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