Derin Clark

Derin Clark

Online Reporter
Published: 15/09/2019

The mortgage charts continue to be highly competitive this week and those looking to borrow will find attractive rates available across the charts. There was good news this week for homeowners planning to remortgage onto a long-term rate, as the top rate in the five year fixed remortgage chart has dropped by 0.02%, while the top five-year fixed rate in the home-movers chart has also fallen. While there has been no movement at the top of the first-time buyer charts, the rates available still remain highly competitive.   

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
HSBC 1.24% fixed Two years £999
HSBC 1.44% fixed Three years £999
NatWest 1.58% fixed Five years £995

HSBC still tops the moving home chart with its rate of 1.24% (3.7% APRC) fixed until 31 January 2022, after which it reverts to 4.19%. HSBC is also topping the three year fixed rate chart with its rate of 1.44% (3.5% APRC), which is fixed until 31 January 2023 and then reverts to 4.19%. Both these deals are available to those looking for a 60% LTV and who require a minimum loan of £10,000 to a maximum of £5m. Both are only available to those with a minimum earned income of £15,000. They charge £999 in product fees and include the incentive of free valuation. Overpayments are allowed.

New to the top of the five year fixed moving home chart this week is NatWest offering a rate of 1.58% (3.2% APRC), which is fixed until 31 January 2025 and then reverts to 4.24%. This deal is available to those seeking a 60% LTV and who require a minimum loan of £25,000 to a maximum of £2m. It charges £995 in product fees and includes the incentive of £250 cashback. Overpayments are allowed.  

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Newcastle Building Society 2.59% fixed Two years £498
Marsden Building Society 2.89% fixed Three years £0
Barclays Mortgage 2.75% fixed Five years £0

Once again Newcastle Building Society topped the first-time buyer chart with a rate of 2.59% (5.2% APRC), which is fixed until 31 October 2021, reverting to 4.49% thereafter. This deal is available to those looking for a 95% LTV and who require a minimum loan of £30,000, while the maximum is dependent on LTV. It charges £498 in product fees. There are no incentives with this mortgage, but it does include the flexible feature of allowing overpayments.

Marsden Building Society topped the three year fixed first-time buyer chart with its rate of 2.89% (5.4% APRC), which is fixed until 2.89% and then reverts to 6.20%. This deal is available to those looking for a 95% LTV and who require a minimum loan of £30,000 to a maximum of £350,000. As well as this, it requires a minimum earned income of £20,000. There are no product fees with this deal, and it includes free valuation for properties valued to a maximum of £500,000. Overpayments are allowed.

Barclays Mortgage was offering the top rate in the five year fixed first-time buyer chart with its rate of 2.75% (3.7% APRC), which is fixed until 31 October 2024 and then reverts to 4.24%. It is available to those looking for a 95% LTV and who require a minimum loan of £5,000 to a maximum of £500,000. It doesn’t charge any product fees and includes the incentive of free valuations for properties valued to a maximum of £2m. It also allows overpayments.

The best remortgage rates

Provider Rate Initial rate period Product fee
HSBC 1.24% fixed Two years £999
HSBC 1.44% fixed Three years £999
Post Office Money 1.58% fixed Five years £995

HSBC topped the remortgage chart overall with its rate of 1.24% (3.7% APRC), which is fixed until 31 January 2022, reverting to 4.19% thereafter. It also topped the three year chart this week with its rate of 1.44% (3.5% APRC), which is fixed until 31 January 2023 and then reverts to 4.19%. Both deals require a minimum earned income of £15,000 and are available to those looking for a 60% LTV. They are available to borrowers requiring a minimum loan of £10,000 to a maximum of £5m. Both charge £999 in product fees and include the incentives of free valuation and no legal fees. Overpayments are allowed.

Post Office Money topped the five year fixed rate remortgage chart this week with its rate of 1.58% (3.6% APRC) that is fixed until 30 November 2024 and then reverts to 4.74%. This deal is available to those looking for a 60% LTV and who require a minimum loan of £25,001 while the maximum is dependent on LTV. It is also only available to those with a minimum income of £20,000. This deal charges £995 in product fees and includes the incentive of free valuations. It also 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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