The best residential mortgage rates this week 17.01.20 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 17/01/2020

Despite not many changes happening in the mortgage charts this week, competitive rates remain at the top of all the charts, with low rates available across loan-to-value (LTV) deals. Saying this, it is important to remember that when looking for the best mortgage deal, the lowest rate might not be the best option. Instead, borrowers should take into account a wide range of factors when choosing a mortgage deal, including product fees, incentives and flexible features.

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

Consumers looking to move home will find that the lowest rate in the moving home chart comes from Halifax this week. Halifax offers 1.17% (3.8% APRC) fixed until 28 February 2022, which then reverts to 4.24% variable. This rate is available to those looking for a 60% loan-to-value (LTV). It charges £995 in product fees but does not offer any incentives. Halifax also offered the lowest rate in the five year fixed moving home chart this week. It offers 1.46% (3.2% APRC) fixed until 28 February 2025, reverting to 4.24% variable thereafter. This deal has the same terms and conditions as the two year fixed mortgage.

The lowest rate in the three year fixed chart once again came from HSBC, which offers 1.44% (3.6% APRC) fixed until 31 March 2023, and then reverts to 4.19% variable. 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 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

Bath Building Society continued to offer the lowest rate in the first-time buyer chart for those based outside Northern Ireland, offering a discounted variable rate of 2.49% (4.8% APRC) for three years, which then reverts to 5.44% variable. This deal is available to those looking for a 95% LTV to those who earn a minimum income of £35,000. It charges £872 in product fees, but there are no incentives with this deal. Bath Building Society also offers the lowest rate in the three year fixed chart, where it offers a rate of 2.59% (4.9% APRC) fixed for three years and then reverts to 5.44% variable. This deal has the same terms and conditions as the three year discounted variable mortgage.

In the two year fixed chart, Newcastle Building Society offered the lowest rate for those located in all areas of Great Britain. It offers a rate of 2.59% (5.1% APRC) fixed until 30 June 2022, which then reverts to 4.49% variable. This mortgage is available to borrowers looking for a 95% LTV and charges £498 in product fees. There are no incentives with this mortgage.
Continuing to offer the lowest rate in the five year fixed chart this week was Barclays Mortgage offering 2.75% (3.7% APRC) fixed until 30 April 2025 , reverting to 4.24% variable thereafter. 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.

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 £1,499

Those looking to remortgage this week will find the chart remained highly competitive. NatWest Int Sols offers 1.19% (3.8% APRC) fixed until 31 March 2022, which then reverts to 4.24% variable. This deal 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 has the lowest rate in the three year fixed chart this week offering 1.44% (3.6% fixed) until 31 March 2023, reverting to 4.19% variable thereafter. This deal is available to borrowers looking for a 60% LTV who earn a minimum income of £15,000. It charges £999 in product fees and includes the incentives of free valuation and no legal fees.

Offering the lowest rate in the five year fixed chart this week was Santander offering 1.39% (3.1% APRC) fixed until 2 April 2025, which then reverts to 4.00% variable. It is available to those looking for a 60% LTV and charges £1,499 in product fees. It comes with the incentives of £250 cashback on completion or free legal fees, as well as free valuation to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuations for those in Scotland.

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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