Derin Clark

Derin Clark

Online Reporter
Published: 13/12/2019

After a highly competitive year in the mortgage charts, with just a few weeks left of 2019 competition seems to have eased at the top of the charts with no new top rates available this week. Saying this, there are still low mortgage rates available across the charts.

While the rate is important when choosing a mortgage deal, borrows should also take into account other factors when choosing the best deal for their personal circumstances, such as product fees and incentives. It should be noted that the charts below only highlight the lowest rate available and, as such, these might not be the best deal.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.17% fixed Two years £995
HSBC 1.44% fixed Three years £999
Halifax 1.46% fixed Five years £995

The moving home mortgage chart remained highly competitive this week and saw Halifax continue to offer the lowest rate overall, at 1.17% (3.8% APRC) fixed until 28 February 2022, reverting to 4.24% thereafter. This rate is available to those looking for a 60% loan-to-value (LTV) and charges £995 in product fees. It offers no incentives. Halifax also topped the five year moving home chart this week offering 1.46% (3.2% APRC) fixed until 28 February 2025 and then reverts to 4.24%. This mortgage has the same terms and conditions as the two year fixed deal.

HSBC continued to offer the lowest rate in the three year fixed chart, offering 1.44% (3.5% APRC) fixed until 31 March 2023, after which it reverts to 4.19%. This deal is available to those looking for a 60% LTV and who have a minimum earned income of £15,000. It charges £999 in product fees and includes the incentive of free valuation.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
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
Barclays Mortgage 2.75% fixed Five years £0

Once again Bath Building Society topped the first-time buyer chart offering the lowest rate for those located in England and Wales. It offers a rate of 2.49% (4.8% APRC) discounted variable for three years, after which it reverts to 5.44%. The deal is for those looking for a 95% LTV and is only available to those who earn a minimum income of £35,000. It charges £872 in product fees but does not include any incentives. Bath Building Society also continued to offer the lowest rate in the three year fixed chart this week, at 2.59% (4.9% APRC) fixed for three years and then reverts to 5.44%. This mortgage has the same terms and conditions as the discounted variable deal.

Newcastle Building Society once again offered the lowest rate for those located in all areas of Britain offering 2.59% (5.1% APRC) fixed until 28 February 2022, after which it reverts to 4.49%. This deal is available to those looking for a 95% LTV and charges £498 in product fees. It offers no incentives.

The lowest rate in the five year fixed first-time buyer chart was once again from Barclays Mortgage offering 2.75% (3.7% APRC) fixed until 31 January 2025, reverting to 4.24% thereafter. This deal is available to those looking for a 95% LTV and charges no product fees. It includes the incentives of free valuation for properties valued to a maximum of £2m.

The best remortgage rates

Provider Rate Initial rate period Product fee
NatWest Int Sols 1.19% fixed Two years £995
HSBC 1.44% fixed Three years £999
Santander 1.39% fixed Five years  

The lowest rate in the remortgage chart this week came from NatWest Int Sols offering 1.19% (3.8% APRC) fixed until 31 March 2022, which then reverts to 4.24%. This deal is available to those looking for a 60% LTV and charges £995 in product fees. It includes the incentives of free valuations and no legal fees.

HSBC offered the lowest rate in the three year remortgage chart this week offering 1.44% (3.6% APRC) fixed until 31 March 2023, reverting to 4.19% thereafter. This deal is available for those looking for a 60% LTV and who have a minimum income of £15,000. It charges in £999 in product fees and includes the incentives of free valuation and no legal fees.

Santander once again offered the lowest rate in the five year fixed remortgage chart this week. It offers a rate of 1.39% (3.1% APRC) fixed until 2 April 2025 and then reverts to 4.00%. The deal is available for those looking for a 60% LTV and charges £1,499 in product fees. It includes the incentives of free valuations to a maximum of £1,190 for those located in England, Wales and Northern Ireland or £95 towards valuations for those in Scotland, as well as £250 cashback on completion or no legal fees.

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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