Derin Clark

Derin Clark

Online Reporter
Published: 01/05/2020

Despite the current economic crisis caused by the Coronavirus pandemic, the mortgage charts have remained highly competitive. While we have only focused on the lowest rates available in the fixed rate charts this week, borrowers should be aware that the lowest rate may not be the best deal for their personal circumstances. Instead, borrowers should consider a range of factors such as product fees and incentives, along with the rate when choosing the best mortgage deal.

The best mortgage rate for home-movers

Provider Rate Initial rate period Product fee
HSBC 1.19% fixed Two years £999
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

HSBC offered the lowest moving home mortgage rate in the two, three and five year fixed charts this week. Its two year fixed deal offers a rate of 1.19% (3.2% APRC) fixed until 30 September 2022, which then reverts to 3.54% variable. This deal is available to those looking for a 60% loan-to-value (LTV) and who earn a minimum income of £15,000. It charges £999 in product fees and comes with the incentive of free valuation. It three year deal offers a rate of 1.34% (3.0% APRC) fixed until 30 September 2023, reverting to 3.54% variable thereafter. This deal has the same terms and conditions as the two year fixed mortgage.

The five year deal from HSBC offers a rate of 1.41% (2.8% APRC) fixed until 30 September 2025, which reverts to 3.54% variable. This deal is available to those looking for a 60% LTV and who earn a minimum of £75,000. It charges £1,499 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 3.09% fixed Two years £999
Nationwide Building Society 3.39% fixed Three years £999
Barclays Mortgage 2.75% fixed Five years £0

The lowest rate in the two year fixed first-time buyer chart this week came from Nationwide Building Society, which offers 3.09% (3.6% APRC) fixed for two years, after which it reverts to 3.59% variable. This deal is available to those looking for a 95% LTV and charges £999 in product fees. It comes with the incentives of free valuation and £500 cashback. Nationwide Building Society also had the lowest three year fixed first-time buyer mortgage this week, offering a rate of 3.39% (3.7% APRC) fixed for three years, reverting to 3.59% variable thereafter. This deal has the same terms and conditions as the two year fixed mortgage.

The lowest five year fixed first-time buyer deal this week came from Barclays Mortgage, which offers a rate of 2.75% (2.7% APRC) fixed until 31 July 2025 and then reverts to 2.59% variable. This deal is available to those looking for a 95% LTV. It does not charge any product fees and comes with the incentive of free valuation for properties valued to a maximum of £2m. It should be noted that this is an assisted mortgage and therefore additional terms & conditions apply.

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 1.19% fixed Two years £999
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

The lowest two year fixed remortgage deal this week came from HSBC, which offers a rate of 1.19% (3.2% APRC) fixed until 30 September 2022 and then reverts to 3.54% variable. This deal is available to those looking for a 60% LTV and who have a minimum income of £15,000. It charges £999 in product fees and comes with the incentives of free valuation and no legal fees. HSBC also had the lowest three year fixed remortgage deal this week, offering a rate of 1.34% (3.0% APRC) fixed until 30 September 2023, reverting to 3.54% variable thereafter. This deal has the same terms and conditions as the two year fixed mortgage.

As well as this, HSBC also had the lowest five year fixed remortgage deal, offering 1.41% (2.8% APRC) fixed until 30 September 2025, which then reverts to 3.54% variable. This deal is available to those looking for a 60% LTV and who earn a minimum of £75,000. It charges £1,499 in product fees and comes with the incentives of 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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