The best residential mortgage rates this week 24.01.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 24/01/2020

While movement lower down the charts picked up this week, the mortgage sector overall continued to be slow, and there were no major changes at the tops of the charts. Saying this, the mortgage charts overall continue to be highly competitive, with low rates available across all charts.

Mortgage borrowers should be aware that when looking for the best 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

The moving home mortgage chart remained highly competitive this week with Halifax continuing to offer the lowest rate of 1.17% (3.7% APRC) fixed until 31 May 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 deal. Halifax also continued to offer the lowest rate in the five year chart this week, offering 1.46% (3.2% APRC) fixed until 31 May 2025, reverting to 4.24% thereafter. This mortgage has the same terms and conditions as the two year fixed deal.

Home movers looking to lock into a three year fixed deal this week will find that HSBC offered the lowest rate of 1.44% (3.6% APRC) fixed until 31 March 2023, which then reverts to 4.19%. 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 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

This week Bath Building Society once again offered the lowest rate in the first-time buyers chart for those located outside Northern Ireland. Bath Building Society offers 2.49% (4.8% APRC) discounted variable for three years, which then reverts to 5.44%. This deal is available to those looking for a 95% LTV and 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 offered the lowest three year fixed mortgage in the first-time buyer charts this week. It offers 2.59% (4.9% APRC) fixed for three years and then reverts to 5.44%.

First-time buyers looking to lock into a two year fixed deal will find the lowest rate for those located in all areas of Great Britain comes from Newcastle Building Society. The building society offers 2.59% (5.1% APRC) fixed until 30 June 2022, which reverts to 4.49% thereafter. This mortgage is available to those looking for a 95% LTV and it charges £498 in product fees. It does not have any incentives.

Barclays Bank offered the lowest rate in the five year fixed chart this week, offering 2.75% (3.7% APRC) fixed until 30 April 2025. This mortgage is available to those looking for a 95% LTV. It does not charge any product fees and comes with the incentives of free valuations 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 1.49% fixed Five years £999

NatWest Int Sols continued to offer the lowest rate overall in the remortgage chart this week, offering 1.19% (3.8% APRC) fixed until 31 March 2022, which then reverts to 4.24%. This deal is available to those looking for a 60% LTV and charges £995 in product fees. This mortgage comes with the incentives of free valuations and no legal fees. Borrowers should be aware that this deal is only available via selected intermediaries.

Homeowners looking to remortgage for a three year term will find that HSBC offered the lowest rate this week. HSBC offers 1.44% (3.6% APRC) fixed until 31 March 2023, reverting to 4.19% thereafter. 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 valuations and no legal fees.

Santander continued to offer the lowest rate in the five year fixed chart this week, offering 1.49% (3.1% APRC) fixed until 2 May 2025, which then reverts to 4.00%. This deal is available to homeowners looking for a 60% LTV and charges £999 in product fees. It also comes with the incentives of a free valuation to a maximum of £1,190 for those in England, Wales and Northern Ireland, or £95 towards a valuation for those in Scotland, as well as £250 cashback on completion or 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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