Another week has passed with mutuals and lenders competing to offer the best deals for homemovers, families remortgaging and first-time buyers.
It is the turn of Yorkshire Building Society, Barclays and Virgin Money to top this week’s latest round of residential mortgage deals, with Nationwide and Santander also offering attractive deals.
In Virgin Money’s case, the lender has the lowest two-year fix deal up to 60% loan to value (LTV) as well as inviting incentive packages.
During a week where the Bank of England voted to keep the base rate at 5.25% for the second consecutive time, here are the best residential mortgage rates available, based on Moneyfacts’ data.
The best remortgage rates
Virgin Money boasts the lowest two-year rate available through intermediaries, costing 5.26% up to 60% LTV for borrowers. It also offers an incentive package including a free valuation and £250 cashback available to UK customers.
Here are the best of the rest:
- Barclays: The best two-year fixed rate at 5.49% up to 60% LTV, which does not charge a product fee and offers a free valuation, free legal fee plus £150.
- The Co-operative Bank: A three-year deal up to 60% LTV with a 5.09% mortgage rate, comes with £999 product fee.
- Yorkshire Building Society: Lowest five-year rate at 4.84% with a maximum of 75% LTV. Includes free valuation, free legal fees as an incentive and charges £1,495 in product fees.
The best mortgage rates for homemovers
Borrowers looking to move home should consider the lowest two-year fix from Barclays Mortgages priced at 5.10%. This can be purchased through an intermediary or direct with the bank and is available up to 60% LTV. This deal comes with £899 in product fees and offers a free valuation on properties valued at a maximum of £2m.
The next best are:
- Nationwide Building Society: For the second consecutive week, the three-year fix is on the market at 4.99% up to 60% LTV, with £999 product fees, plus eco-friendly incentives.
- Yorkshire Building Society: A Moneyfacts best buy at a rate of 5.03% up to 75% LTV which includes a free valuation but with a £1,495 product fee.
- Santander: For another week, Santander offers the best five-year fix deal at 4.64% up to a maximum of 60% LTV and £999 in product fees.
The best first-time buyer mortgages
Buyers in the market to own a property for the first time may want to make the most of Yorkshire Building Society’s 5.54% offer on a two-year fixed rate. This is for buyers with a 10% deposit and as an incentive, there is a free valuation and a product fee of £1,495.
The next in line:
- Virgin Money: Offers a lower rate of 5.11% for a five-year fix and charges £1,295 in fees but includes a free valuation.
- TSB: For top incentives, the Moneyfacts best buy is priced at 6.39% with no product fees, a free valuation and £500 cashback.
- Skipton Building Society: Five-year fix with a 5% deposit at an initial rate of 5.59% and £1,295 in product fees, plus a free valuation.
