Derin Clark

Derin Clark

Online Reporter
Published: 20/09/2019

The mortgage charts remain highly competitive this week, with new top rates entering the charts. After a few weeks of inactivity, first-time buyers will be pleased to see a new rate has topped the three year fixed chart, while home movers and those looking to remortgage will also see lower rates topping the charts this week.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
NatWest 1.21% Two years £995
HSBC 1.44% Three years £999
NatWest 1.55% Five years £995

New to the top of the moving home chart this week is NatWest, which is offering 1.21% (3.7% APRC) fixed until 31 January 2022 before reverting to 4.24% for the remaining term. This deal is available to those looking for a 60% loan-to-value (LTV) and who require a minimum loan of £25,000 to a maximum of £2m. It charges £995 in product fees and includes the incentive of £250 cashback. Overpayments are allowed.

HSBC continues to top the three year fixed chart this week with a rate of 1.44% (3.5% APRC) fixed until 31 January 2023, which reverts to 4.19% thereafter. This mortgage is available to those looking for a 60% LTV and who require a minimum loan of £10,000 to a maximum of £5m. It charges £999 in product fees and includes the incentive of free valuation. Overpayments are allowed with this deal.

NatWest was also new to the top of the five year fixed chart this week, with a rate of 1.55% (3.2% APRC) fixed until 31 January 2025 before then reverting to 4.24%. This deal is available to those looking for a 60% LTV and for a minimum loan of £25,000 to a maximum of £2m. It charges £995 in product fees and includes the incentive of £250 cashback. Overpayments are also allowed.

The best first-time buyer mortgage rates

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

Remaining at the top of the first-time buyer chart this week is Newcastle Building Society with a rate of 2.59% fixed until 31 October 2021, reverting to 4.49% thereafter. This deal is available to those looking for a 95% LTV and for a £30,000 minimum loan, while the maximum is dependent on LTV. It charges £498 in product fees and while it has no incentives it does allow overpayments.

New to the top of the three year fixed chart this week is Family Building Society with a rate of 2.84% (4.5% APRC) fixed until 28 February 2023, after which it reverts to 5.04%. Borrowers should be aware that this mortgage is only available to those in England and Wales and it requires help from a family member allowing their assets to work for the buyer as security for the mortgage. It is for those who are looking for a 95% LTV and it has a minimum loan of £45,000 to a maximum of £500,000. The product fees on this deal are £599 and it includes the incentives of free valuation for properties valued to a maximum of £500,000, free legal fees or £250 cashback. Overpayments are allowed.   

Barclays Mortgage was once again at the top of the five year fixed rate chart with a rate of 2.75% (3.7% APRC) fixed until 31 October 2024, which then reverts to 4.24%. Borrowers should be aware that this mortgage deal requires a deposit from a guarantor, such as a parent, to use as security. It is available for those looking for a 95% LTV and who require a minimum loan of £5,000 to a maximum of £500,000. It doesn’t charge any product fees and includes in the incentive of free valuation for properties valued to a maximum of £2m. Overpayments are allowed.   

The best remortgage rates

Provider Rate Initial rate period Product fee
Barclays Mortgage 1.24% Two years £999
HSBC 1.44% Three years £999
Virgin Money 1.56% Five years £995

Barclays Mortgage was offering the overall best rate for a deal that did not require a broker with a rate of 1.24% (3.8 APRC) fixed until 31 October 2021 and then reverts to 4.24%. 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 incentive of free valuation, free legal fees or £200 cashback. Overpayments are allowed.

The top rate in the three year fixed chart once again came from HSBC this week offering 1.44% (3.5%) fixed until 31 January 2023. It is available to those looking for a 60% LTV and who require a minimum loan of £10,000 to a maximum of £5m. It charges £999 in product fees and includes the incentive of free valuation and free legal fees. Overpayments are also allowed.

New to the top of the five year fixed rate chart this week is Virgin Money offering 1.56% (3.6%) fixed until 1 January 2025, which then reverts to 4.99%. This deal is available to those looking for a 65% LTV and there is no minimum or maximum loan requirement. It charges £995 in product fees and includes the incentive of free valuation, and free legal fees or £500 cashback.

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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