Derin Clark

Derin Clark

Online Reporter
Published: 28/02/2020

The Nationwide House Price Index released today shows that house prices are starting to increase, and the market has experienced the strongest annual price growth since July 2018 . This is good news for homeowners, who will also be pleased to see that mortgage rates have continued to remain competitively low throughout the charts this week.

Mortgage borrowers should, however, be aware that while rates need to be taken into account when choosing a mortgage deal, it is not the only factor to take into account. Instead, borrowers should also consider factors such as product fees, flexible features and incentives when choosing the best deal for their requirements.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.17% fixed Two years £995
HSBC 1.34% fixed Three years £999
HSBC 1.41% fixed Five years £1,499

Offering the lowest rate in the moving home mortgage chart this week was Halifax, offering 1.17% (3.8% APRC) fixed until 31 May 2022, which then reverts to 4.24% variable. This mortgage is available to those looking for a 60% loan-to-value and charges £995 in product fees. There are no incentives with this mortgage.

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

As well as this, HSBC offered the lowest rate in the five year fixed moving home chart this week, offering 1.41% (3.1% APRC) fixed until 30 June 2025, reverting to 4.19% variable thereafter. This deal is quite exclusive and requires a minimum earned income of £75,000. It is available to those looking for a 60% LTV and charges £1,499 in product fees. It includes 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
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

Bath Building Society continued to offer the lowest rate overall in the first-time buyer chart for those in England, Wales and mainland Scotland. It offers 2.49% (4.8% APRC) discounted variable for three years, which then reverts to 5.44% variable. This deal is available to those looking for a 95% LTV and who have a minimum earned income of £35,000. It charges £872 in product fees. There are no incentives with this mortgage. Bath Building Society also continued to offer the lowest rate in the three year fixed first-time buyer chart this week. It offers a rate of 2.59% (4.9% APRC) fixed for three years, reverting to 5.44% variable thereafter. This deal has the same terms and conditions as the three year discounted variable deal.

This week saw Newcastle Building Society continue to offer the lowest rate in the two year fixed first-time buyer charts for those located in all areas of Britain. It offers a rate of 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. There are no incentives with this deal.

Barclays Mortgage continued to offer the lowest rate in the five year fixed first-time buyer chart this week. It offers a rate of 2.75% (3.7% APRC) fixed until 30 April 2025, after which it reverts to 4.24% variable. This deal is available to those looking for a 95% LTV. There are no product fees with this mortgage and it comes with the incentive of free valuation for properties valued to a maximum of £2m. Borrowers should be aware that this mortgage is only available to those who open a Helpful Start Account and comes with additional terms and conditions.

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

The lowest rate in the remortgage chart once again came from NatWest Int Sols this week. It offers a rate of 1.19% (3.8% APRC) fixed until 30 June 2022, which then reverts to 4.24% variable. This deal is only available through selected intermediaries and is available to those looking for a 60% LTV. It charges £995 in product fees. It comes with the incentives of free valuation and no legal fees.

HSBC continued to offer the lowest three year fixed remortgage rate this week. HSBC offers a rate of 1.34% (3.5% APRC) fixed until 30 June 2023, reverting to 4.19% thereafter. It is available to those looking for a 60% LTV and a minimum earned income of £15,000 is required for this mortgage. It charges £999 in product fees and includes the incentives of free valuation and no legal fees.

Once again, HSBC also offered the lowest rate in the five year fixed remortgage chart this week. It offers a rate of 1.41% (3.2% APRC) fixed until 30 June 2025, which then reverts to 4.19% variable. This deal is quite exclusive, and it requires a minimum earned income of £75,000. It is available to those looking for a 60% LTV and charges £1,499 in product fees. It comes with the incentives of free valuation and no legal fees.

Remortgages

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

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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