The Best Mortgage Rates This Week 24.04.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 24/04/2020

This week saw the mortgage market become more competitive, with Nationwide Building Society extending its 85% lending to brokers and online, while also introducing new remortgage products. However, those looking for a high loan-to-value (LTV) mortgage will continue to find that many deals are no longer available, which can be seen in the first-time buyer chart where a number of last week’s lowest rates are not available this week.

Although a low rate is important when considering a mortgage deal, borrowers should keep in mind that the lowest rate available might not be the best deal for their personal circumstances. Instead, borrowers should consider factors such as product fees, flexible features and incentives, all of which can be found on our mortgage charts, when choosing the best mortgage deal.

The best mortgage rate for home-movers

Provider Rate Initial rate period Product fee
NatWest 1.19% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

NatWest had the lowest two year fixed rate moving home deal this week, offering 1.19% (3.2% APRC) fixed until 30 June 2022, which then reverts to 3.59% variable. This deal is available to those looking for a 60% loan-to-value (LTV) and charges £995 in product fees. It comes with the incentive of free valuation.

The lowest rate in the three year fixed moving home chart this week came from HSBC, which offers 1.34% (3.0% APRC) fixed until 30 June 2023, reverting to 3.54% variable 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 valuation.

Those looking for a five year fixed rate moving home mortgage will find that HSBC had the lowest rate this week, offering 1.41% (2.8% APRC) fixed until 30 June 2025, which reverts to 3.54% variable. This deal is available to those looking for a 60% LTV and who earn a minimum income of £75,000. It charges £1,499 in product fees and comes with the incentive of free valuation.

Moving home mortgages

All the rates available can be found on our moving home chart.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Leek United Building Society 2.60% discounted variable Two years £0
Nationwide Building Society 3.09% fixed Two years £999
Nationwide Building Society 3.39% fixed Three years £999
Barclays Mortgage 2.75% fixed Five years £0

Leek United Building Society continued to have the lowest first-time buyer rate this week offering 2.60% (4.8% APRC) discounted variable for two years, reverting to 5.19% thereafter. This deal is available to those looking for a 95% LTV and who earn a minimum income of £20,000. It does not charge any product fees and comes with the incentives of free valuation and £400 cashback on completion.

The lowest two year fixed first-time buyer rate this week came from Nationwide Building Society, which offers 3.09% (3.6% APRC) fixed for two years and then reverts to 3.59% variable. This deal is available to those looking for a 95% LTV and charges £999 in product fees. It comes with the incentives of free valuation and £500 cashback. Nationwide also had the lowest three year first-time buyer rate of 3.39% (3.7% APRC) fixed for three years, after which it reverts to 3.59% variable. This deal has the same terms and conditions as the two-year fixed option.

Barclays Mortgage had the lowest five year fixed first-time buyer rate, offering 2.75% (2.7% APRC) fixed until 31 July 2025, which then reverts to 2.59% variable. This deal is available to those looking for a 95% LTV. There are no product fees with this deal and it comes with the incentive of free valuation for properties valued to a maximum of £2m.

First-time buyer mortgages

All the rates available can be found on our first-time buyer chart.

The best remortgage rates

Provider Rate Initial rate period Product fee
NatWest Int Sols 1.19% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

This week NatWest Int Sols continued to have the lowest remortgage rate, offering 1.19% (3.3% APRC) fixed until 30 June 2022, which then reverts to 3.59% variable. This deal is only available via intermediaries and to those looking for a 60% LTV. It charges £995 in product fees and comes with the incentives of free valuation and no legal fees.

HSBC had the lowest three year fixed remortgage rate this week, offering 1.34% (3.1% APRC) fixed until 30 June 2023, after which it reverts to 3.54% 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 comes with the incentives of free valuation and no legal fees.

HSBC also had the lowest five year fixed remortgage deal, offering 1.41% (2.8%) fixed until 30 June 2025, reverting to 3.54% variable thereafter. This deal is available to those looking for a 60% LTV and who earn a minimum income of £75,000. It charges £1,499 in product fees and comes with the incentives of free valuation and no legal fees.

Remortgages

All the rates available can be found on our remortgage chart.

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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