Derin Clark

Derin Clark

Online Reporter
Published: 28/06/2019

There has been some movement in the mortgage charts this week, especially in the first-time buyer mortgage chart. A new provider topped the chart this week offering a slightly higher rate than last week, but no product fees. Competitive rates continue to be offered across all the mortgage charts.

The best moving home mortgage rates

Provider Rate Initial rate period Product fee
Cumberland Building Society 1.26% discounted variable Two-year variable £1,999
NatWest 1.38% fixed until 31.10.2021 Two-year fixed £995
Coventry Building Society 1.55% fixed until 30.09.2022 Three-year fixed £999
Skipton Building Society 1.75% fixed until 30.09.2024 Five-year fixed £1,995

Topping the moving home mortgage chart again this week was Cumberland Building Society offering a 1.26% discounted variable rate for two years (4.3% APRC), after which it reverts to 4.74%. This mortgage requires a 60% loan-to-value (LTV) and the minimum amount that can be borrowed is £50,000 to a maximum of £500,000. A total of £1,999 is charged in product fees and, although it doesn’t offer any incentives, overpayments are allowed.

New to the top of the two-year fixed rate moving home chart this week was NatWest with a rate of 1.38% fixed to 31 October 2021 (3.8% APRC), which reverts to 4.24% thereafter. This mortgage requires a 60% LTV and offers a minimum loan of £25,000 to a maximum of £2m. It charges product fees of £995 and includes the incentive of £250 cashback. Overpayments are allowed.

Those looking to fix their mortgage for a three-year term could find the top rate coming from Coventry Building Society, which offers 1.55% fixed until 30 September 2022 (4.0% APRC), after which it reverts to 4.99%. To get this mortgage a 65% LTV is required, and it doesn’t have a restriction on the minimum amount that can be borrowed, while the maximum is dependent on LTV. This mortgage charges £999 in product fees and includes the incentive of free valuation (up to a maximum of £670). It allows overpayments.

Skipton Building Society topped the five-year fixed rate chart offering a rate of 1.75% fixed until 30 September 2024 (3.8% APRC), after which time it reverts to 4.99%. This mortgage requires a 60% LTV and has no minimum loan amount, while the maximum it will lend is dependent on LTV. A total of £1,995 in product fees is charged with this mortgage, but it includes the incentive of free valuation and allows both overpayments and payment holidays.

The best first-time buyer mortgage rates

Provider Rate Initial rate period Product fee
Monmouthshire Building Society 2.55% discounted variable for two years Two-year variable £0.00
Newcastle Building Society 2.59% fixed until 31.07.2021 Two-year fixed £498
Marsden Building Society 2.89% fixed until 30 September 2022 Three-year fixed £0.00
Barclays Mortgage 2.75% fixed until 31 October 2024 Five-year fixed £0.00

There have been a number of changes in the first-time buyer mortgage charts this week. Monmouthshire Building Society has taken the top spot in the chart overall, offering a 2.55% discounted variable rate for two years (4.9% APRC), after which it reverts to 5.24%. This mortgage requires a 95% LTV and will loan a minimum amount of £40,000, while its maximum is dependent on LTV. No product fee is charged with this mortgage and it offers free valuations for properties valued to a maximum of £1m. Overpayments are allowed.

Newcastle Building Society continued to top the two-year fixed chart this week offering 2.59% fixed until 31 July 2021 (5.2% APRC), which then reverts to 4.49%. To get this mortgage a 95% LTV is required. It will loan a minimum amount of £10,000, while the maximum is dependent on LTV. A product fee of £498 is charged and, while it doesn’t offer any incentives, it does allow overpayments.

With Barclays Mortgage dropping off the top of the three-year fixed rate chart this week, Marsden Building Society has taken top spot offering 2.89% fixed until 30 September 2022 (5.4% APRC), which reverts to 6.20%. This mortgage requires a 95% LTV and will offer a minimum loan of £20,000 to a maximum of £350,000. There are no product fees charged with this mortgage and it offers the incentive of free valuation for properties valued to a maximum of £500,000. Overpayments are allowed.

While Barclays Mortgage has moved from the three-year chart, it is now topping the five-year fixed rate chart, offering a rate of 2.75% fixed until 31 October 2024 (3.7% APRC), after which it reverts to 4.24%. This mortgage requires a 95% LTV and will lend as little as £5,000 to a maximum of £500,000. It doesn’t charge a product fee and includes the incentive of free valuation for properties valued to a maximum of £2m. Overpayments are allowed.

The best remortgage rates

Provider Rate Initial rate period Product fee
Cumberland Building Society 1.26% discounted variable for two years Two-year discounted variable £1,999
Furness Building Society 1.39% fixed for two years Two-year fixed £1,250
Coventry Building Society 1.55% fixed until 30.09.2022 Three-year fixed £999
Skipton Building Society 1.75% fixed until 30.09.2024 Five-year fixed £1,995

Once again topping the remortgage chart this week is Cumberland Building Society offering a 1.26% discounted variable rate for two years (4.3% APRC), after which it reverts to 4.74%. This mortgage requires a 60% LTV and offers a minimum loan of £50,000 to a maximum of £500,000. It charges £1,999 in product fees and offers the incentives of free valuation and free legal fees. It allows overpayments.

Topping the two-year fixed chart this week is Furness Building Society offering a rate of 1.39% fixed for two years (5.2% APRC), reverting to 5.79%. This mortgage requires a 60% LTV and offers a minimum loan of £30,000, while the maximum is dependent on LTV. A total of £1,250 in product fees is charged and it comes with the incentives of free valuation (up to a maximum of £665) and free legal fees in England and Wales or £150 towards legal fees in Scotland. It allows overpayments.  

Taking the top place in the three-year fixed remortgage chart this week is Coventry Building Society offering a rate of 1.55% fixed until 30 September 2022 (4.0% APRC), reverting to 4.99%. A 65% LTV is required for this mortgage, which has no minimum loan amount and its maximum is dependent on LTV. This mortgage charges £999 in product fees and includes the incentives of free valuation (up to a maximum of £670) and free legal fees. Overpayments are allowed.

The five-year fixed rate chart was topped this week by Skipton Building Society offering a rate of 1.75% fixed until 30 September 2024 (3.8% APRC), after which it reverts to 4.99%. This mortgage requires a 60% LTV and has no minimum loan amount, while the maximum is dependent on LTV. It charges £1,995 in product fees and includes the incentives of free valuation and free legal fees. Overpayments and payment holidays are allowed.

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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