Derin Clark

Derin Clark

Online Reporter
Published: 14/02/2020

After a slow start to the year, there has been more movement in the mortgage charts this week with new, lower rates, topping some of the charts. In addition to this, the mortgage charts continue to offer highly competitive rates for home movers, first-time buyers and those remortgaging.

Consumers looking for a mortgage should take into account when choosing a deal that the lowest rate might not be the best option. Instead, consumers should consider a range of factors such as product fees, flexible features and incentives, when choosing 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 1.34% fixed Three years £999
HSBC 1.44% fixed Five years £999

This week, Halifax once again had the lowest rate in the moving home mortgage chart, offering 1.17% (3.8% APRC) fixed until 31 May 2022 and then reverting to 4.24% variable. This deal is available to borrowers looking for a 60% loan-to-value (LTV) and charges £995 in product fees. There are no incentives with this mortgage.

HSBC offered the lowest rate in the three year chart this week, offering 1.34% (3.5% APRC) fixed until 30 June 2023, reverting to 4.19% variable thereafter. This deal is available to those looking for a 60% LTV and requires a minimum earned income of £15,000. It charges £999 in product fees and comes with the incentive of a free valuation.

This week also saw HSBC offer the lowest rate in the five year fixed moving home chart. Its lowest rate of 1.41% is quite exclusive and requires a minimum income of £75,00 but it also offers the next lowest rate of 1.44% (3.1% APRC) fixed until 30 June 2025 and reverts to 4.19% variable thereafter. This deal has the same terms and conditions as the three year deal.

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
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

Bath Building Society continued to offer the lowest rate in the first-time buyer chart with a deal available to those located in England, Wales and mainland Scotland. It offers 2.49% (4.8% APRC) discounted variable for three years, which then reverts to 5.44% variable. This deal is available to those looking for a 95% LTV and requires a minimum earned income of £35,000. The product fees on this deal total £872 and there are no incentives. Bath Building Society also continued to offer the lowest rate in the three year fixed chart. It offers 2.59% (4.9% APRC) fixed for three years, reverting to 5.44% variable thereafter. This deal has the same terms and conditions as the discounted variable mortgage.

Newcastle Building Society offered the lowest rate in the two year fixed chart for those located in all areas of Britain. It offers 2.59% (5.1% APRC) fixed until 30 June 2022 and then reverts to 4.49% variable for term. This deal is available to those looking for a 95% LTV and charges £498 in product fees. There are no incentives with this mortgage.

This week, Barclays Mortgage continued to offer the lowest rate in the five year fixed first-time buyer chart. It offers 2.75% (3.7% APRC) fixed until 30 April 2025, after which it reverts to 4.24% variable. This deal is available to those looking for a 95% LTV. There are no product fees with this deal, which comes with the incentive of free valuation for properties valued to a maximum of £2m.

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
NatWest Int Sols 1.19% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

The lowest rate in the remortgage chart once again was being offered by NatWest Int Sols this week. NatWest Int Sols offers 1.19% (3.8% APRC) fixed until 30 June 2022 and then reverts to 4.24% variable. This deal is only available through selected intermediaries and is available to those looking for a 60% LTV. It charges £995 in product fees and comes with the incentives of free valuation and no legal fees.

HSBC offered the lowest three year fixed remortgage deal this week. It offers 1.34% (3.5% APRC) fixed until 30 June 2023, after which it reverts to 4.19% variable. It is available to those looking for a 60% LTV and requires a minimum earned income of £15,000. This deal charges £999 in product fees and includes the incentives of free valuation and no legal fees.

This week, HSBC also offered the lowest rate in the five year fixed remortgage chart. Its lowest rate of 1.41% is only available to those with a minimum income of £75,000 and is quite exclusive, but it also offers the next lowest rate of 1.44% (3.2% APRC) fixed until 30 June 2025, reverting to 4.19% variable thereafter. This deal has the same terms and conditions as the three year mortgage.

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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