This week’s best residential mortgage products

But NatWest offers the leading choice for borrowers needing to remortgage their property, boasting a 4.59% rate.

During the week when the Bank of England’s Monetary Policy Committee kept the base rate at 5.25%, providers have continued to slash rates on a range of mortgages.

Here’s a round-up of the best prices for borrowers to consider, using data from Moneyfacts.

The best remortgage rates

NatWest commands the top spot in the two-year fixed rate markets, with a 4.82% offer for homeowners at a maximum of 60% loan to value (LTV). Product fees are included to the tune of £1,495 but free legal fees and complimentary valuation are also part of the deal. Nationwide Building Society offers the same rate and finance amount as NatWest but gives borrowers a choice between free legal fees or £500 cashback.

The other best options:

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1. Yorkshire BS: The lowest rate across the remortgage market, its 4.59% rate is fixed for five years and covers up to 75% LTV. A £1,495 product fee charge is also required.
2. First Direct:  The next best five-year rate is at 4.64% and can finance up to 60% of your property. Incentives come in the form of free legal fees and complimentary valuation.
3. Yorkshire BS: This 4.79% deal has no product fees or legal costs to pay and will cater for a maximum of 75% LTV of your home.

The best mortgage rates for home movers

Nationwide also offers a leading deal on two-year fixed deals for home movers with a 4.65% rate that finances 60% of your property. A product charge of £999 is needed to secure the product but to offset that fee there is a £250 cashback incentive for if your home has an Energy Performance Certificate (EPC) score between 86 and 91. If the EPC score is higher than 92, that cashback doubles to £500. A free valuation is also part of this package.

The next best:

1. Santander: Lowest rate for three-year fixes, priced at 4.74% up to 60% LTV with a £999 fee, but a free valuation is part of the deal. This valuation has a limit of £1,190 on properties with a maximum value of £2.5 million.
2. Santander: If you wish to finance more of your property, this Moneyfacts ‘best buy’ rate of 4.91% is ideal to cover up to 75% of your home. The same incentives as the three-year fix are also part of this offer.
3. Nationwide: The best rate for a five-year fix at 4.29% will finance a maximum of 60% LTV. A charge of £999 needs to be paid for in product fees but the same incentives as the two-year fix are included.

The best first-time buyer mortgages

It’s almost a clean sweep of the best residential rates for Nationwide, as its 4.79% rate is the cheapest on the market for five-year fixes. There is a £999 product fee to pay for – perks come in the form of a £500 green incentive and a free valuation.

The best alternatives:

1. Yorkshire BS: A two-year fixed rate of 5.29% with a free valuation of your new property included. But there is also a £1,495 product charge on top of that.
2. Yorkshire BS: For a longer-term rate, the mutual also has a 5.24% deal if you have a 5% deposit to get on the property ladder. There is a £995 charge to cover product fees.
3. Nationwide: The best three-year fix on the market is 5.31% and this deal covers up to 90% LTV and requires £999 to pay for product fees.