Derin Clark

Derin Clark

Online Reporter
Published: 18/10/2019

Mortgage borrowers will be pleased to see that last week’s low rates are available again this week and that competition remains strong across the mortgage charts. For those concerned about the current economic uncertainty and who are looking to lock their mortgage into a long-term deal, there are highly competitive five year fixed rate deals across all charts. Saying this, two year fixed rate deals continue to offer the lowest rates in all mortgage charts.

When looking at the mortgage charts, borrowers should be aware that the lowest rate on offer might not be the best deal available for them and instead they should consider a range of extra factors such as product fees, incentives and payment flexibility when choosing the right mortgage deal for their needs.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee

Barclays Mortgage

NatWest

Royal Bank of Scotland
1.21% fixed Two years

£999

£995

£995
HSBC 1.44% fixed Three years £999
Skipton Building Society 1.45% fixed Five years £1,495

Three mortgage lenders continued to offer the lowest rate overall in the moving home mortgage chart this week. Barclays Mortgage offers 1.21% (3.8% APRC) fixed until 31 January 2022, reverting to 4.24% thereafter. This mortgage deal is available to those looking for a 60% loan-to-value (LTV) and who require a minimum loan of £5,000 to a maximum of £2m. The deal charges £999 in product fees but includes the incentive of free valuation and allows overpayments.

NatWest offers 1.21% (3.8% APRC) fixed until 31 January 2022, which then reverts to 4.24%. This mortgage is available on a 60% LTV and to those requiring a minimum loan of £25,000 to a maximum of £2m. It charges £995 in product fees and includes the incentive of £250 cashback, while also allowing overpayments. Royal Bank of Scotland offers 1.21% (3.8%) fixed until 31 January 2022, then reverts to 4.24%. This mortgage has the same terms and conditions as NatWest’s deal.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Newcastle Building Society 2.59% fixed Two years £498
The Family Building Society 2.84% fixed Three years £599
Barclays Mortgage 2.75% fixed Five years £0

Once again, the lowest rate overall in the first-time buyer mortgage chart came from Newcastle Building Society offering 2.59% (5.1% APRC) fixed until 28 February 2022, which then reverts to 4.49%. This deal is available to those looking for a 95% LTV and who require a minimum loan of £30,000, with the maximum dependent on LTV. This mortgage charges £498 in product fees and while it does not have any incentives it does allow overpayments.

This week also saw Family Building Society remain at the top of the three year fixed chart offering a rate of 2.84% (4.5% APRC) fixed until 28 February 2023, reverting to 5.04% thereafter. This mortgage is available to those looking for a 95% LTV and who require a minimum loan of £45,000 to a maximum of £500,000. To get this mortgage, a £599 product fee is charged. It includes the incentive of free valuation for properties valued to a maximum of £500,000, as well as free legal fees or £250 cashback. It also allows overpayments.

Topping the five year fixed chart this week was Barclays Mortgage offering 2.75% (3.7% APRC) fixed until 31 January 2025. This mortgage 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 does not charge any product fees and includes the incentive of free valuation for properties valued to a maximum of £2m. It also allows overpayments.

The best remortgage rates

Provider Rate Initial rate period Product fee
Barclays Mortgage 1.21% fixed Two years £999
HSBC 1.44% fixed Three years £999
Skipton Building Society 1.45% fixed Five years £1,495

This week saw Barclays Mortgage remain at the top of the remortgage chart overall offering 1.21% (3.8% APRC) fixed until 31 January 2022, reverting to 4.24% thereafter. This deal is available to those looking for a 60% LTV and who require a minimum loan of £5,000 to a maximum of £2m. It charges £999 in product fees and includes the incentives for free valuations, along with no legal fees or £200 cashback. Overpayments are allowed.

Topping the three year fixed chart this week was HSBC offering 1.44% (3.6% APRC) fixed to 31 January 2023, then reverting to 4.19%. This mortgage is available on a 60% LTV and is available to those looking for a minimum loan of £10,000 to a maximum of £5m. It charges £999 in product fees and includes the incentives of free valuation and no legal fees. In addition to this, it allows overpayments.

New to the top of the five year fixed chart this week is Skipton Building Society offering a rate of 1.45% (3.7% APRC) fixed until 31 December 2024. This mortgage is available to those looking for a 60% LTV and while there is no minimum loan it does have a maximum of £1m. This mortgage charges a product fee of £1,495 but includes the incentive of free valuation and no legal fees. It allows both overpayments and payment holidays.

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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