The best residential mortgage rates this week 13.03.20 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 13/03/2020

The Bank of England’s unexpected announcement that it was cutting base rate from 0.75% to 0.25% is good news for mortgage borrowers as it could result in mortgage rates dropping even further over the next few months. Saying this, borrowers should keep in mind that the lowest rate available might not be the best deal for their personal circumstances. Instead, borrowers should consider factors such as product fees, flexible features and incentives, all of which can be found on our mortgage charts, when choosing the best mortgage deal.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
HSBC 0.89% variable  Two years £999
Halifax 1.17% fixed Two years £995
HSBC 1.34% fixed Three years £999
Skipton Building Society 1.41% fixed Five years £1,995

Homeowners looking to move home will find that this week HSBC had the lowest rate overall offering 0.89% (3.7% APRC) variable for two years, which reverts to 4.19%. This mortgage is available to those looking for a 60% loan-to-value (LTV) and who earn a minimum income of £15,000. This deal charges £999 in product fees and comes with the incentive of a free valuation. HSBC also offered the lowest three year fixed rate offering 1.34% (3.5% APRC) fixed until 30 June 2023 and then reverts to 4.19%. This mortgage has the same terms and conditions as the variable deal.

Halifax once again had the lowest rate in the two year fixed chart offering 1.17% (3.8% APRC) fixed until 31 May 2022, which then reverts to 4.24%. This mortgage is available to those looking for a 60% LTV and charges £995 in product fees. It does not have any incentives.

The lowest moving home mortgage in the five year fixed chart came from Skipton Building Society this week offering 1.41% (3.7% APRC) fixed until 31 May 2025, which reverts to 4.99%. This deal is available to those looking for a 60% LTV. It charges £1,995 in product fees and comes with the incentive of a 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 fees
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
Saffron Building Society 2.67% fixed Five years £180

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

Newcastle Building Society had the lowest two year fixed deal this week offering 2.59% (5.1% APRC) fixed until 30 June 2022, which reverts to 4.49%. This deal is available to those looking for a 95% LTV. It charges £498 in product fees. There are no incentives with this mortgage.

Saffron Building Society had the lowest five year fixed first-time buyer mortgage this week offering 2.67% (3.9% APRC) fixed until 31 August 2025, which then reverts to 4.64% discounted variable (1.00% discount – collared at 2.00%). This deal is available to those looking for a 95% LTV and charges £180 in product fees. It comes with the incentive of a free valuation.

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
HSBC 0.89% variable Two years £999
NatWest Int Sol 1.19% fixed Two years £995
HSBC 1.34% fixed Three years £999
Skipton Building Society 1.41% fixed Five years £1,995

The lowest rate in the remortgage chart this week came from HSBC offering 0.89% (3.7% APRC) variable for two years, which reverts to 4.19%. 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 incentive of a free valuation and no legal fees. HSBC also offered the lowest three year fixed remortgage rate this week at 1.34% (3.5% APRC) fixed until 30 June 2023, which then reverts to 4.19%. This deal has the same terms and conditions as the variable rate deal.

NatWest Int Sol had the lowest two year fixed remortgage rate this week offering 1.19% (3.8% APRC) fixed until 30 June 2022. This deal is only available through selected intermediaries. It is available to those looking for a 60% LTV and charges £995 in product fees. It comes with the incentives of a free valuation and no legal fees.

Skipton Building Society had the lowest five year remortgage rate this week offering 1.41% (3.7% APRC) fixed until 31 May 2025, which then reverts to 4.99%. This deal is available to those looking for a 60% LTV. It charges £1,995 in product fees and comes with the incentives of a free valuation and no legal fees.

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 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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