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This week’s best residential mortgage products

This week’s best residential mortgage products
Matt Browning
Written By:
Matt Browning

Cumberland Building Society has risen to the top of the residential mortgage product chart this week and Virgin Money has a raft of appealing offers across all markets too.

Halifax reigns supreme for borrowers moving home, while last week’s top provider Nationwide remains a good option for first-time buyers.

After research into the popularity of homebuyers Google searches was revealed, the head of mortgages at Barratt Developments said “there are a lot of new products available now tailored to specific buyers.”

So, here are the best deals across a range of products for borrowers to consider, according to Moneyfacts.

The best remortgage rates

Cumberland Building Society tops the charts for two-year deals this week with a 4.65% rate up to 60% loan to value (LTV). There is a free valuation and no legal fees but a £999 charge needs to be paid to bag the offer.

The best of the rest:

  1. Cumberland BS: A Moneyfacts ‘best buy’ for borrowers wanting to finance up to 75% of their property, with a 4.70% rate. This comes with a £999 fee.
  2. Virgin Money: The lowest three-year fix is 4.78% for up to 70% LTV and comes with a complimentary valuation while a £995 product fee is required too.
  3. Principality BS: Another Moneyfacts ‘best buy’ thanks to a deal of 4.65% at 80% LTV. There is a fee of £1,395 to pay but a free valuation is included.

The best remortgage rates for home movers

Prospective property owners moving home ought to check out the lowest two-year rate from Halifax priced at 4.62%. This finances up to 60% of your new home and has a ‘Green Home’ incentive of £250 for properties with an Energy Efficiency Band (EEB) of A or B or a rating of 81 or higher.

The next in line:

  1. Nationwide BS: The 4.70% rate for up to 75% LTV is a ‘best buy’ too and comes with a product fee of £999. There are also cashback incentives worth £250 and £500 for homes that reach a high Energy Performance Certificate (EPC) score.
  2. Santander: This provider offers the lowest three-year fix with a deal of 4.70% rate up to 60% LTV. A product fee of £999 is included.
  3. Halifax: Topping the five-year market this week with a 4.28% rate up to 60% LTV and a £999 product fee.

The best first-time buyer mortgages

Home buyers jumping on the property ladder for the first time have leading offers from Virgin Money and Yorkshire Building Society this week.

Virgin Money is the provider for buyers with a 10% deposit wanting a two-year fix, thanks to a price of 5.19%. However, the deal requires customers to part ways with £1,295 for product fees.

More top deals:

  1. Virgin Money: The top five-year fix of 4.71% with a 10% deposit and the same value product fee as the two-year alternative.
  2. Yorkshire BS: For a 5% deposit to fix for two years, this mutual has a rate of 5.69% to offer, but a £1,495 product fee charge is included to secure the deal.
  3. Yorkshire BS: With a 5.24% rate, this is the choice for buyers looking to fix for five years, while laying down a 5% deposit.