The best residential mortgage rates this week 20.12.19 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 20/12/2019

It was good news for mortgage borrowers this week as the top of the chart remained unchanged, which meant that there are still highly competitive rates available across all mortgage charts. Homeowners who have reverted back to their lender’s standard variable rate should consider remortgaging as rates remain low and it could result in borrowers saving hundreds of pounds each month.

When choosing the right mortgage deal for their personal circumstances, borrowers should factor in a number of considerations, such as product fee and incentive, and not just pick the lowest rate available. It should be noted that the rates below only highlight the lowest rates available and, as such, these might not be 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 1.44% fixed Three years £999
Halifax 1.46% fixed Five years £995

Remaining at the top of the moving home chart this week was Halifax offering 1.17% (3.8% APRC) fixed until 28 February 2022 which then reverts to 4.24%. This deal is available to those looking for a 60% loan-to-value (LTV) and charges £995 in product fees. There are no incentives with this mortgage. Halifax also remained at the top of the five year fixed chart this week offering 1.46% (3.2% APRC) which is fixed until 28 February 2025, reverting to 4.24% thereafter. This deal has the same terms and conditions as the two year fixed mortgage.

HSBC also stayed at the top of the three year chart this week offering 1.44% (3.5% APRC) fixed until 31 March 2023, then reverting to 4.19%. This mortgage is available to those looking for a 60% LTV. It charges £999 in product fees and includes the incentive of free valuations.

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

The lowest rate for first-time buyers located in England and Wales once again came from Bath Building Society offering 2.49% (4.8% APRC) discounted variable for three years, reverting to 5.44% thereafter. This deal is available to those looking for a 95% LTV and requires a minimum income of £35,000. It charges £872 in product fees. There are no incentives with this deal. Bath Building Society also continued to top the three year fixed first-time buyer chart this week offering 2.59% (4.9% APRC) fixed for three years and then reverting to 5.44%. This deal has the same terms and conditions as the three year discounted variable deal.

First-time buyers looking to lock into a two year deal will find the lowest rate for all areas of Britain from Newcastle Building Society, which offers 2.59% (5.1% APRC) fixed until 28 February 2022, reverting to 4.49% thereafter. This deal is available to those looking for a 95% LTV and charges £498 in product fees. There are no incentives with this mortgage.

Offering the lowest rate in the five year fixed chart this week was Barclays Mortgage offering 2.75% (3.7% APRC) fixed until 31 January 2025, reverting to 4.24% thereafter. This deal is available to borrowers looking for a 95% LTV. It does not charge any product fees and includes the incentive of free valuations on 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

The lowest rate available in the remortgage chart this week came from NatWest Int Sols offering 1.19% (3.8% APRC) fixed until 31 March 2022, which then reverts to 4.24%. This deal is only available through a mortgage broker and is available to those looking for a 60% LTV. It charges £995 in product fees and includes the incentives of free valuations and no legal fees.

Offering the lowest three year fixed remortgage rate this week was HSBC with its 1.44% (3.6% APRC) deal which is fixed until 31 March 2023 and then reverts to 4.19%. This mortgage is available to borrowers looking for a 60% LTV. It charges £999 in product fees and includes the incentive of free valuations and no legal fees.

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

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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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