Derin Clark

Derin Clark

Online Reporter
Published: 30/08/2019

The mortgage charts continue to be highly competitive this week, with new top rates entering both the moving home and remortgage charts. While the first-time buyer chart didn’t see any changes at the top, overall the rates on offer still remain highly competitive across all terms.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
NatWest 1.24% variable Two years £995
Santander 1.28% fixed Two years £999
Coventry Building Society 1.55% fixed Three years £999
Barclays 1.64% fixed Five years £999

Once again NatWest was offering the overall lowest rate in the moving home mortgage chart offering 1.24% (3.7% APRC) variable until 31 January 2022, which then reverts to 4.24%. This mortgage is available to those seeking a 60% loan-to-value (LTV) and who require a minimum loan of £25,000 to £2m. It charges £995 in product fees and comes with the incentive of £250 cashback. As well as this, overpayments are allowed.

While Barclays, NatWest and RBS also offered the lowest two year fixed rate of 1.28%, Santander has the lowest APRC on its 1.28% deal (3.6% APRC). The rate of 1.28%is fixed until 2 December 2021 and then reverts 4.00%. This deal is available to homeowners looking for a 60% LTV and who require a minimum loan of £6,000 to a maximum of £1m. Santander charges £999 in product fees, however it includes the incentives of free valuation to a maximum of £1,190 for properties valued to a maximum of £2.5m and £250 cashback. Overpayments are also allowed.

On Friday, Coventry Building Society was new to the top of the three year fixed chart, offering 1.55% (4.0% APRC) fixed until 30 September 2022, which then reverts to 4.99%. This deal is available to those looking for a 65% LTV and while there is no minimum loan required, the maximum is dependent on LTV. This deal charges £999 in product fees and includes the incentive of free valuation to a maximum of £670. Overpayments are allowed.

New to the top of the five year fixed chart this week was Barclays Mortgage offering a rate of 1.64% (3.3% APRC) until 31 October 2024. This mortgage is available on a 60% LTV and requires a minimum loan of £5,000 to a maximum of £1m. It charges £999 in product fees and includes the incentive of free valuation for properties valued to a maximum of £2m. It also allows overpayments.

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

Newcastle Building Society once again topped the first-time buyer chart this week, with its rate of 2.59% (5.1% APRC) fixed until the 31 October 2021 and then reverts to 4.49%. This deal is available to buyers looking for a 95% LTV and who require a minimum loan of £30,000, while the maximum is dependent on LTV. It charges £498 in product fees and while there are no incentives, it does include the flexible feature of allowing overpayments.

Topping the three year fixed rate chart this week was Marsden Building Society offering a rate of 2.89% (5.4% APRC) fixed until 30 September 2022, which then reverts to 6.20%. The mortgage is available to those seeking a 95% LTV and who require a minimum loan of £30,000 to a maximum of £350,000. As well as this, an earned income of a minimum of £20,000 is required for this deal. It doesn’t charge any product fees and includes the incentive on free valuation for properties valued to a maximum of £500,000. As well as this, overpayments are allowed.

In the five year fixed rate chart, Barclays Mortgage again topped the chart, with its rate of 2.75% (3.7% APRC) fixed until 31 October 2024, reverting to 4.24% thereafter. This deal is available to those looking for a 95% LTV and who require a minimum loan of £5,000 to a maximum of £500,000. It doesn’t charge any product fees 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
Barclays Mortgage 1.28% fixed Two years £999
Coventry Building Society 1.55% fixed Three years £999
Barclays Mortgage 1.64% fixed Five years £999

The remortgage chart was topped by Barclays Mortgage this week, offering 1.28% (3.8% APRC) fixed until 31 October 2021, which then reverts to 4.24%. This mortgage is available to those seeking a 60% LTV and requires a minimum loan of £5,000 to a maximum of £2m. It charges £999 in product fees and includes the incentives of free valuation, as well as no legal fees or £200 cashback. Overpayments are allowed.

New to the top of the three-year fixed chart this week is Coventry Building Society offering a rate of 1.55% (4.1%) fixed until 30 September 2022, which then reverts to 4.99%. This mortgage is available on a 65% LTV and has no minimum loan requirement, which the maximum is dependent on LTV. It charges £999 in product fees and includes the incentives of free valuation to a maximum of £670 and no legal fees. It also allows overpayments.

Barclays Mortgage was new to the top of the five year chart this week offering a rate of 1.64% (3.3% APRC) that is fixed until 31 October 2024 and then reverts to 4.24%. This mortgage is available on a 60% LTV and requires a minimum loan of £5,000 to a maximum of £1m. It charges £999 in product fees and includes the incentives of free valuation, along with no legal fees or £400 cashback. Overpayments are also 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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