The best residential mortgage rates this week 27.03.20 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 27/03/2020

Today, the Government has urged people not to move house in an effort to reduce the spread of coronavirus. This could not just impact those looking to move home but could also affect those looking to remortgage with a different provider, as they may find it difficult to get a valuation on their property completed. In addition to this, it was also reported this week that providers have started withdrawing their riskier mortgage deals, particularly those on 80% loan-to-value (LTV) and above, while Halifax has withdrawn all its mortgage products from a 60% LTV and above (via intermediaries).

Despite the current challenging housing market, there are still many highly competitive mortgage deals available. Here, we’ve highlighted the lowest rates available in our charts, but mortgage 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 rates for home-movers

Provider Rate Initial rate period Product fee
Leeds Building Society 1.14% fixed Two years £1,999
HSBC 1.34% fixed Three years £999
HSBC 1.46% fixed Five years £1,499

The lowest rate in the moving home mortgage chart this week came from Leeds Building Society, which offers 1.14% (4.7% APRC) fixed until 30 June 2022 and then reverts to 4.44% variable. This deal is available to those looking for a 75% loan-to-value (LTV). It charges £1,999 in product fees and comes with the incentive of free valuation to a maximum of £999.

HSBC had the lowest rate in the three year fixed moving home chart this week, offering 1.34% (3.5% APRC) fixed until 30 June 2023, after which it reverts to 4.19% variable. This deal is available to those looking for a 60% LTV and who have a minimum earned income of £15,000. It charges £999 in product fees and comes with the incentive of free valuation.

HSBC also had the lowest rate in the five year moving home chart, offering 1.46% (3.2% APRC) fixed until 30 June 2025, which reverts to 4.19% variable thereafter. This deal is available to those looking for a 60% LTV and who have a minimum earned 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
Newcastle Building Society 2.59% fixed Two years £498
Bath Building Society 2.69% fixed Three years £872
Saffron Building Society 2.67% fixed Five years £180

Newcastle Building Society had the lowest rate in the two year fixed first-time buyer chart this week. It offers 2.59% (5.1% APRC) fixed until 30 June 2022, which then reverts to 4.49% variable. This deal is available to those looking for a 95% LTV. It charges £498 in product fees and there are no incentives with this deal.

The lowest rate in the three year fixed first-time buyer chart this week once again came from Bath Building Society, which offers 2.69% (4.9% APRC) fixed for three years, reverting to 5.44% variable thereafter. This deal is available to those looking for a 95% LTV and who have a minimum earned income of £20,000. It charges £872 in product fees. There are no incentives with this deal.

Saffron Building Society had the lowest rate in the five year fixed first-time buyer chart, offering 2.67% (3.9% APRC) fixed until 31 August 2025, after which it reverts to 4.64% variable. This deal is available to those looking for a 95% LTV. It charges £180 in product fees and comes with the incentive of free valuation.

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
Leeds Building Society 1.14% fixed Two years £1,999
HSBC 1.34% fixed Three years £999
Skipton Building Society 1.41% fixed Five years £1,995

This week, Leeds Building Society has the lowest remortgage rate overall, offering 1.14% (4.7% APRC) fixed until 30 June 2022, which then reverts to 4.44% variable. This deal is available to those looking for a 75% LTV and charges £1,999 in product fees. It comes with the incentives of free valuation to a maximum of £999 and help towards remortgage costs.

HSBC had the lowest three year fixed remortgage rate this week, offering 1.34% (3.5% APRC) fixed until 30 June 2023, reverting to 4.19% variable thereafter. This deal is available to those looking for a 60% LTV and who have a minimum earned income of £15,000. It charges £999 in product fees and comes with the incentives of free valuation and no legal fees.

The lowest rate in the five year fixed remortgage chart came from Skipton Building Society, offering 1.41% (3.7% APRC) fixed until 31 May 2025, which then reverts to 4.99% variable. This deal is available to those looking for a 60% LTV and charges £1,995 in product fees. It comes with the incentives of free valuations 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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