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This week’s best residential mortgage rates

Rebecca Goodman
Written By:
Rebecca Goodman
Posted:
Updated:
28/09/2023

It’s better news for mortgages this week as rates have fallen below 5% on some deals for the first time since June.

Ever since the Bank of England (BoE) decided to hold the base rate last week, mortgage rates have also continued to fall.

Yorkshire Building Society, for example, this week has a 4.99% remortgage rate with a maximum 75% loan to value (LTV).

Virgin Money offers a 4.82% five-year fixed-rate mortgage with a 75% LTV for home movers.

There’s stiff competition however, and Bank of Ireland UK for Intermediaries remains at the top of the tables across different mortgage types.

Here we look at the week’s best mortgage rates, using Moneyfacts data.

The best remortgage rates

The best rate for remortgaging this week comes from Bank of Ireland UK for Intermediaries with a two-year fixed rate of 5.39%. It is fixed until 31 January 2026 when the rate reverts to 8.04%.

The maximum LTV is 75% and there is a fee of £1,495. This mortgage, also includes a free valuation and £300 cashback. The next-best, as picked by Moneyfacts, are the following:

  1. Bank of Ireland UK for Intermediaries: set at 5.43% until 31 January 2027, this mortgage has a fee of £995 and a maximum LTV of 75%. It pays £300 cashback and includes a free valuation.
  2. Yorkshire Building Society: with a set rate of 4.99% until 30 November 2028, there is a fee of £1,495 with this mortgage which reverts to 8.24% after five years. It has a maximum LTV of 75%.
  3. Bank of Ireland UK for Intermediaries: a five-year fixed mortgage, the rate is 4.99% until 31 January 2029, when it will revert to 8.04%. There’s a fee of £1,495 and it has a maximum LTV of 75%. It pays £500 cashback and includes a free valuation.

The best mortgage rates for homemovers

For homemovers, the best rates this week are the same as those for remortgagers above. The best deal comes from Bank of Ireland UK for Intermediaries. It’s a two-year fixed mortgage, set at 5.39% until 31 January 2026 when it will revert to 8.04%. It has a fee of £1,495 and a maximum LTV of 75%.

The next-best this week are the following:

  1. Bank of Ireland UK for Intermediaries: set at 5.43% until 31 January 2027 when it reverts to 8.04%, this is the second-best home movers mortgage of the week, as picked by Moneyfacts. It has a fee of £995 and a maximum LTV of 75%.
  2. Virgin Money: set at 4.82% until 1 December 2028, when it reverts to 9.49%, this five-year fixed mortgage has a fee of £1,295 and an LTV of 75%.

The best first-time buyer mortgages

For first-time buyers, Skipton Building Society is in the top spot this week with it’s two-year fixed-rate mortgage set at 5.70% until 31 December 2025 when it will rise to 6.24%. It has an LTV of 90% and a fee of £1,995.

The next-best mortgages for first-time buyers are the following:

  1. Skipton Building Society: set at 5.28% until 31 December 2028, when it rises to 6.79%, this five-year fixed-rate mortgage has a fee of £1,995 and an LTV of 90%.
  2. Yorkshire Building Society: a two-year fixed-rate mortgage at 6.19% until 30 November 2025, when it rises to 6.05%, there is a £1,495 fee and an LTV of 95%.
  3. Yorkshire Building Society: with a fixed rate of 5.69% until 30 November 2028 when it rises to 8.24%, there is a fee of £995 and an LTV of 95%.