The Best Mortgage Rates This Week 12.06.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 12/06/2020

After reintroducing high loan-to-value (LTV) deals into the mortgage market, this week a number of mortgage lenders including Virgin Money and Accord Mortgages, have temporarily withdrawn their 90% LTV products, while many more providers have been slow to reintroduce 95% LTV deals. Although this means that there is less competition within the first-time buyer charts and for homeowners looking for a high LTV deal, the mortgage market remains highly competitive overall this week.

Although in this round-up we’ve highlighted the lowest rates available, when looking for the best deal, borrowers should consider a range of factors such as flexible features and incentives, along with rate. Alternatively, a mortgage broker will be able to provide the best options for a borrower’s individual circumstances.

The best mortgage rate for home-movers

Provider Rate Initial rate period Product fees
Cumberland Building Society 1.13% discounted variable Two years £1,999
HSBC 1.14% fixed Two years £999
HSBC 1.29% fixed Three years £999
Skipton Building Society 1.35% fixed Five years £1,995

The lowest moving home mortgage rate in the chart that is available to home buyers located in all areas of Great Britain came from Cumberland Building Society this week. Cumberland Building Society offers a rate of 1.13% (3.7% APRC) discounted variable for two years, which then reverts to 4.09%. This deal is available to those looking for a 60% loan-to-value (LTV) and charges £1,999 in product fees. It comes with the incentive of free valuation.

HSBC continued to offer the lowest rate in both the two and three year fixed rate moving home mortgage charts this week. In the two year chart, it offers a rate of 1.14% (3.2% APRC) fixed until 30 September 2022, after which it reverts to 3.54% variable. In the three year chart, it offers 1.29% (3.0% APRC) fixed until 30 September 2023, reverting to 3.54% variable thereafter. Both these deals are available to those looking for a 60% LTV. They both charge £999 in product fees and include the incentive of free valuation.

Skipton Building Society offered the lowest rate in the five year fixed moving home chart this week, offering 1.35% (3.4% APRC) fixed until 31 August 2025, which then reverts to 4.64% variable. This deal is available to those looking for a 60% LTV. It charges £1,995 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
Nationwide Building Society 1.84% fixed Two years £999
HSBC 2.14% fixed Three years £999
Nationwide Building Society 2.24% fixed Five years £999

Overall, the lowest rate available in the first-time buyer chart for those located in all areas of Great Britain comes from Nationwide Building Society, which offers 1.84% (3.4% APRC) fixed for two years, after which it reverts to 3.59% variable. This deal is available to those looking for a 90% LTV. It charges £999 in product fees and comes with the incentives of free valuation and £500 cashback. Borrowers should be aware that this deal is only available by phoning Nationwide directly. 

The lowest rate available in the three year first-time buyer chart came from HSBC, offering 2.14% (3.3% APRC) fixed until 30 September 2023, reverting to 3.54% variable thereafter. This deal is available to first-time buyers looking for a 90% LTV. It charges £999 in product fees and comes with the incentive of free valuation.

First-time buyers looking for a five year fixed deal will find that the lowest rate this week came from Nationwide Building Society, offering 2.24% (3.2% APRC) fixed for five years, which then reverts to 3.59% variable. This deal has the same terms and conditions as the two-year deal. Borrowers should be aware that this deal is only available by phoning Nationwide directly. 

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
Lloyds Bank 1.13% fixed Two years £999
HSBC 1.29% fixed Three years £999
Lloyds Bank 1.35% fixed Five years £999

Those looking to remortgage at a 60% LTV will find that Lloyds Bank offered the lowest rate overall in the remortgage chart this week. It offers 1.13% (3.2% APRC) fixed until 31 August 2022, which then reverts to 3.59% variable. This deal charges £999 in product fees and comes with the incentives of free valuation and no legal fees.

Homeowners looking to remortgage at a 60% LTV on a three year fixed deal will find that HSBC had the lowest rate in the chart this week. It offers a rate of 1.29% (3.0% APRC) fixed until 30 September 2023, reverting to 3.54% variable thereafter. It charges £999 in product fees and comes with the incentives of free valuation and no legal fees.

The lowest five year fixed remortgage deal at a 60% LTV comes from Lloyds Bank, offering a rate of 1.35% (2.8% APRC) fixed until 31 August 2025, after which it reverts to 3.59% variable. This deal charges £999 in product fees and comes with the incentives of free valuation, no legal fees and £200 cashback.

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. Speak To A Broker today 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.

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