Derin Clark

Derin Clark

Online Reporter
Published: 08/11/2019

Once again, the mortgage chart remained highly competitive this week, with a new low rate entering the top of the moving home mortgage chart. As well as this, first-time buyers will be pleased to see that the competitive rates being offered last week are still available.

It is important when looking at the mortgage charts that borrowers keep in mind that the lowest rate on offer might not be the best deal for their individual circumstances. Instead, they should consider a range of extra factors such as product fees, incentives and payment flexibility when choosing the right mortgage deal for their needs.

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee
Halifax 1.08% fixed Two years £995
HSBC 1.44% fixed Three years £999
Halifax 1.46% fixed Five years £995

New to the top of the moving home chart this week was Halifax, offering a highly competitive 1.08% (3.7% APRC) fixed until 28 February 2022, which then reverts to 4.24%. This deal is available to those looking for a 60% loan-to-value (LTV) and charges £995 in product fees. Halifax was also new to the top of the five year fixed chart this week, offering 1.46% (3.2% APRC) fixed until 28 February 2025, reverting to 4.24% thereafter. This mortgage has the same terms and conditions as the two year fixed deal.

Remaining at the top of the three year fixed chart this week is HSBC offering 1.44% (3.6% APRC) fixed until 31 January 2023 and then reverts to 4.19%. This mortgage is available for those who earn a minimum income of £15,000 and who are looking for a 60% LTV. It charges £999 in product fees and includes the incentive of free valuation.

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

First-time buyers will be pleased to see that last week’s lowest rate is still available in the chart this week. Bath Building Society continued to offer a discounted variable rate of 2.49% (4.8% APRC) for three years, which then reverts to 5.44%. This deal is available to those with a minimum income of £35,000 and who are looking for a 95% LTV. It charges £872 in product fees. Bath Building Society also offered the lowest rate in the three year fixed chart offering a rate of 2.59% (4.9% APRC) that is fixed for three years and then reverts to 5.44%. This mortgage has the same terms and conditions as the discounted variable deal.

Continuing to top the two year fixed chart this week was Newcastle Building Society offering 2.59% (5.1% APRC), which is fixed until 28 February 2022, reverting to 4.49% thereafter. This deal is available to those looking for a 95% LTV and it charges £498 in product fees.

Once again, Barclays Mortgage topped the five year fixed rate chart, offering 2.75% (3.7% APRC) fixed until 31 January 2025 and then reverts to 4.24%. This deal is available to those looking for a 95% LTV and while it does not charge any product fees, it includes the incentive of free valuation for properties valued to a maximum of £2m.

The best remortgage rates

Provider Rate Initial rate period Product fee
Santander 1.21% fixed Two years £999
HSBC 1.44% fixed Three years £999
Virgin Money 1.46% fixed Five years £1,495

Those looking to remortgage will find the lowest rate in the chart coming from Santander this week, which is offering 1.21% (3.6% APRC) fixed until 2 February 2022 and then reverts to 4.00%. This deal is available to those looking for a 60% LTV and charges £999 in product fees. It includes the incentives of £250 cashback on completion or no legal fees, as well as free valuation up to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuations for those in Scotland. 

HSBC topped the three year fixed chart this week offering 1.44% (3.6% APRC), which is fixed until 31 January 2023 and then reverts to 4.19%. This mortgage is available to those who have a minimum income of £15,000 and who are looking for a 60% LTV. It charges £999 in product fees and includes the incentives of free valuation and no legal fees.

Topping the five year fixed chart again this week was Virgin Money offering 1.46% (3.6% APRC), which is fixed until 1 March 2025 and then reverts to 4.99%. This mortgage is available to those looking for a 65% LTV and charges £1,495 in product fees. It includes the incentives of free valuation and no legal fees.

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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