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This week’s best residential mortgage rates

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

The UK's biggest mortgage providers lead the charge this week for the top residential rates, offering a wave of prices below 5%.

NatWest and Virgin Money have muscled onto the top of the charts for remortgage, home movers and first-time buyers this week.

While HSBC slipped out of the leading names for borrowers to consider, after boasting the best-buy deal for consecutive weeks.

Using data from Moneyfacts, we analyse the best deals available on the market.

The best remortgage rates

NatWest replaces HSBC at the top of the remortgage rate table. For two-year fixed rates, look no further than the 4.82% up to 60% loan-to-value (LTV) deal which comes with a free valuation and legal fees, with a charge of £1,495.

The best of the rest:

  1. NatWest: A Moneyfacts ‘best buy’ alternative for higher finance of 75% LTV and a rate of 4.98%. It charges a £995 product fee while also having the incentives of free valuation and no legal fees included.
  2. Yorkshire Building Society: The mutual offers a three-year fix up to 75% and a rate of 4.89% plus a product fee of £1,495 and free valuation and free legal fees incentives.
  3. Yorkshire Building Society: It’s the lowest price on the market at 4.59% on a five-year fix up to 75% LTV. This offer also has free legal fees and valuation plus a £1,495 fee.

The best mortgage rates for home movers

Borrowers moving homes might want to consider Halifax’s lowest two-year fixed rate of 4.75% up to 60% of your new property. A £999 fee is included and a £250 cashback incentive for households with an Energy Efficiency Band in the A or B category (or rating of 81 or higher).

The other top options:

  1. Lloyds Bank: The provider has a deal priced at 5.14% up to 75% LTV and has a product fee of £999 but comes with free valuation and legal fees, plus the same green incentive as the 60% LTV offer.
  2. Nationwide Building Society: A Moneyfacts ‘best buy’ for a three-year fix, with a 4.79% rate up to 60% LTV, and a £999 product fee included. Another deal that has the same green incentive as Lloyds, but if you have an Energy Performance Certificate of 92 or more, you’ll bag £500 cashback.
  3. Halifax: For a five-year fix, the provider offers 4.41% up to 60% LTV and a product fee of £999. This also comes with a £250 green incentive for borrowers.

The best first-time buyer mortgages

Virgin Money has replaced Yorkshire BS as the top provider for first-time buyers this week on two-year fixed rates on a 10% deposit. Virgin Money offers 5.33% for buyers and a free valuation with a product fee charge of £1,295.

The next best:

  1. Yorkshire Building Society: With a smaller 5% deposit, the mutual still offers the lowest rate available directly on a two-year fix, priced at 5.69% and charging a £1,495 fee but has a free valuation as an incentive.
  2. Bath Building Society: The lowest rate for a 5% deposit on a five-year fix is 5.29% with a £999 product fee.
  3. Virgin Money: For a longer term, the best five-year fix has with a rate of 4.85% on a 10% deposit. This price has a product fee of £1,295 and a free valuation.