Derin Clark

Derin Clark

Online Reporter
Published: 22/11/2019

While mortgage providers continued to drop rates throughout the week, the lowest rates remained unchanged in the charts. This is good news for borrowers who are looking to take advantage of the ongoing fierce mortgage competition by locking into a competitive rate.

Borrowers should, however, be aware that the lowest rate available does not necessarily mean this is the best rate in the chart. Instead, when choosing the right mortgage deal, borrowers should consider a range of factors including product fees, incentives and the flexible features being offered.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.08% fixed Two years £995
HSBC 1.44% fixed Three years £999
Skipton Building Society 1.44% fixed Five years £995

Homeowners looking for a moving-home mortgage will be pleased to see that last week’s lowest rate is still sitting at the top of the chart. Halifax offers the lowest rate of 1.08% (3.7% APRC), which is fixed until 28 February 2022 and then reverts to 4.24% variable. This deal is available to those looking for a 60% loan-to-value (LTV) and it charges £995 in product fees. There are no incentives with this mortgage.

Continuing to offer the lowest three year fixed rate this week was HSBC offering 1.44% (3.6% APRC), which is fixed until 31 January 2023 and then reverts to 4.19% variable. This deal is available to those looking for a 60% LTV and it requires a minimum income of £15,000. This mortgage charges £999 in product fees and includes the incentive of free valuation.

Offering the lowest rate in the five year fixed chart this week is Skipton Building Society with its rate of 1.44% (3.7% APRC) fixed until 31 December 2024, reverting to 4.99% variable thereafter. This deal is available to those looking for a 60% LTV and charges £995 in product fees. It comes with the incentive of free valuation.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fees
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

There was no movement at the top of the first-time buyer chart this week, with Bath Building Society continuing to offer the lowest rate of 2.49% (4.8% APRC) discounted variable for three years, after which it reverts to 5.44% variable. This deal is available to those with a minimum income of £35,000 and who are looking for a 95% LTV. It charges £872 in product fees and does not include any incentives. Bath Building Society also continued to offer the lowest rate in the three year fixed chart, with its rate of 2.59% (4.9%) fixed for three years, which then reverts to 5.44% variable. This deal has the same terms and conditions as the discounted variable deal.

Offering the lowest rate in the two year fixed chart is Newcastle Building Society with its 2.59% (5.1% APRC) fixed until 28 February 2022, reverting to 4.49% variable thereafter. This deal is available to those looking for a 95% LTV and charges £498 in product fees. It does not offer any incentives.

Barclays Mortgage continued to offer the lowest rate in the five year fixed chart this week with its 2.75% (3.7% APRC) fixed until 31 January 2025, which then reverts to 4.24% variable. This deal is available to those looking for a 95% LTV. It doesn’t charge any product fees and includes the incentives of free valuation for properties valued to a maximum of £2 million.

The best remortgage rates

Provider Rate Initial rate period Product fee
NatWest Int Sol 1.19% fixed Two years £995
HSBC 1.44% fixed Three years £999
Skipton Building Society 1.44% fixed Five years £995

NatWest Int Sol continued to offer the lowest rate in the remortgage chart this week with its rate of 1.19% (3.8% APRC), which is fixed until 31 March 2022 and then reverts to 4.24% variable. This deal is available to those looking for a 60% LTV on only available via an intermediary. It charges £995 in product fees and includes the incentives of free valuation and no legal fees.   

Offering the lowest rate in the three year fixed remortgage chart this week was HSBC with a rate of 1.44% (3.6% APRC) fixed until 31 January 2023, which then reverts to 4.19% 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 includes the incentives of free valuation and no legal fees.

This week Skipton Building Society continued to offer the lowest rate in the five year fixed chart offering a rate of 1.44% (3.7% APRC) fixed until 31 December 2024, which then reverts to 4.99% variable thereafter. This deal is available to those looking for a 60% LTV and charges £995 in product fees. It includes the incentives of free valuation and no legal fees.

 

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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