Derin Clark

Derin Clark

Online Reporter
Published: 26/07/2019

There was a lot of movement in the moving home and remortgage charts this week, with HSBC entering the charts and offering the top rate for many of the terms. The first-time buyer chart also remained highly competitive this week, with a two-year fixed rate continuing to offer the top rate for those looking to take their first steps on the property ladder. 

The best moving home mortgage rates

Provider Rate Initial rate period Product fee
Furness Building Society 1.29% discounted variable Two years £999
HSBC 1.31% fixed Two years £1,499
HSBC 1.56% fixed Three years £1,499
HSBC 1.71% fixed Five years £1,499

Furness Building Society continued to top the moving home mortgage chart this week, offering a discounted variable rate of 1.29% (5.1% APRC) for two years. This deal is for a maximum 60% loan-to-value (LTV) and requires a minimum loan of £30,000, while the maximum is dependent on LTV. A product fee of £999 is charged and it comes with the incentives of free valuation up to a maximum of £665 and allows overpayments.

New to the top of the two-year fixed rate mortgage chart this week was HSBC, offering 1.31% (3.8% APRC) fixed until 31 October 2021 for a maximum 60% LTV. This deal requires a minimum loan of £10,000 to a maximum of £5m. It charges £1,499 in product fees and includes the incentives of free valuation. It also allows overpayments.

Coventry Building Society, which topped the three-year fixed rate chart last week, dropped out of the chart by the end of the week, leaving HSBC to top the chart offering 1.56% (3.6% APRC) fixed until 31 October 2022. HSBC also topped the five-year fixed rate chart this week offering 1.71% (3.3% APRC) fixed until 31 October 2024. Both these mortgages are for a maximum 60% LTV and require a minimum loan of £10,000 to a maximum of £5m. They charge £1,499 in product fees and include free valuation, as well as allowing overpayments.

It is important to note that all the HSBC mortgage deals are only available to HSBC customers with a premier current account. 

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Newcastle Building Society 2.59% fixed Two years £498
Marsden Building Society 2.89% fixed Three years £0
Barclays Mortgage 2.75% fixed Five years £0

The top rate in the first-time buyer chart without restrictions continues to be offered on a two-year fixed rate mortgage from Newcastle Building Society, which offers 2.59% (5.2% APRC) fixed until 31 July 2021. This mortgage is for a maximum 95% LTV and requires a minimum loan of £10,000, while the maximum is dependent on LTV. This mortgage charges £498 in product fees and while there are no incentives, overpayments are allowed.

Those looking to lock their mortgage into a three-year deal could get the best rate from Marsden Building Society, which offers 2.89% (5.4% APRC) fixed until 30 September 2022 on a maximum 95% LTV. The minimum loan required is £20,000 to a maximum of £350,000. There are no product fees and it includes the incentives of free valuation for properties valued to a maximum of £500,000. Overpayments are allowed.

For first-time buyers wanting the security of locking their mortgage into a long-term deal, the best rate in the five-year fixed chart came from Barclays Mortgage offering 2.75% (3.7% APRC). This deal is for a maximum 95% LTV and requires a minimum loan of £5,000 to a maximum of £500,000. There are no product fees and it includes the incentives of free valuation for properties valued to a maximum of £2m. This mortgage also allows overpayments.  

The best remortgage rates

Provider Rate Initial rate period Product fee
Furness Building Society 1.29% discounted variable Two years £999
HSBC 1.31% fixed Two years £1,499
HSBC 1.56% fixed Three years £1,499
HSBC 1.71% fixed Five years £1,499

Topping the remortgage chart again this week was Furness Building Society offering a 1.29% (5.2% APRC) discounted variable rate for two years. This mortgage is for a maximum 60% LTV and requires a minimum loan of £30,000, while the maximum is dependent on LTV. It charges £999 in product fees and includes the incentives of free valuation to a maximum of £665 and free legal fees in England and Wales or £150 towards legal fees. It also allows overpayments.

HSBC was new to the top of the two years, three years and five years fixed rate remortgage charts this week. It offers a rate of 1.31% (3.8% APRC) fixed until 31 October 2021, 1.56% (3.6% APRC) fixed until 31 October 2022 and 1.71% (3.3% APRC) fixed until 31 October 2024. All these deals are for a maximum 60% LTV and require a minimum loan of £10,000 to a maximum of £5m. They also all charge a product fee of £1,499 and include the incentives of free valuation and no legal fees, as well as allowing overpayments. It is important to note that the HSBC mortgage deals are only available to HSBC customers with a premier current account. 

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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