The tide appeared to be turning in the direction of mortgage rates (for a moment) after Santander raised its rates for the first time in half a year.
However many providers have continued to offer competitive prices across the remortgage, home mover, and first-time buyer sectors.
Using data from Moneyfacts, here are the most attractive products for borrowers this week.
The best remortgage rates
For a second week running, Barclays Mortgage boasts the lowest two-year fix for homeowners looking to remortgage. A deal that finances up to 60% of your property is available for 4.34% and comes with a £999 arrangement fee, while a free valuation is also part of the deal.
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- Nationwide Building Society: The mutual offers an even lower two-year fix for 4.33% for borrowers needing £300,000 or more. This is available for a maximum of 60% loan to value (LTV) and incentives come in the form of a free valuation and either £500 cashback or complimentary legal fees.
- Coventry Building Society: A three-year fix on the market is priced at 4.32% from the mutual, with a £999 arrangement fee and a couple of incentives included. It comes in two deals that both finance up to 65% LTV. One has a valuation for free plus £350 cashback and the other has free valuation and legal fees.
- Nationwide Building Society: The lowest five-year option is priced at 3.88% to finance a maximum of 60% LTV. An upfront fee of £999 is required but so is a complimentary valuation and a choice of free legal fees or £500 cashback.
The best mortgage rates for home movers
Barclays Mortgage has cemented its position as the top provider of two-year fixes by dropping last week’s 4.17% rate down to 4.09%. The deal comes with a £899 arrangement fee and covers up to 60% of your new home. A free valuation also comes as part of the package, which is also available with an intermediary involved.
Top alternatives:
- Halifax: This two-year fix is perfect for greener properties, if the home has an Energy Efficiency rating of at least 81, £250 cashback could come your way. The rate is 4.17% and finances a maximum of 60% (LTV).
- Nationwide Building Society/ Santander: Both providers offer a three-year fix for 4.20% up to 60% LTV as well as a £999 fee to pay. While Santander provides free valuation, Nationwide matches that but offers an Energy Efficiency incentive, where a rating of 86 or higher gets you £250 cashback (£500 if 92 or more).
- Nationwide Building Society: The mutual tops the longer-term market after slashing its five-year fix below 4% to stand at 3.90%. A reservation fee of £999 is required and it finances a maximum of 60% LTV.
The best first-time buyer mortgages
Setting the pace in the first-time buyer sector is Virgin Money, with a two-year fixed rate of 4.87%. A bigger than average fee of £1,295 to arrange the mortgage has to be paid, but a generous £500 cashback is also part of this offer for borrowers with a 10% deposit.
Next best options:
- HSBC: Alternatively for a lower booking fee of £999 and a free valuation, HSBC’s 4.89% deal is worth considering, especially with a £250 cashback incentive.
- Newcastle Building Society: The leading rate for two-year fixes with a 5% deposit comes with a 5.20% rate and a £999 completion fee to pay. However, no incentives are included and it excludes purchases in Northern Ireland.
- Yorkshire Building Society: A five-year fix with a 5% deposit comes with a £995 completion fee but incentives include a free valuation and £250 cashback.
